Having a Baby Can Break Bank

I found a really helpful article for first time parents on how to budget when planning to have a baby. Found the article from the Herald Sun.  Article is below:

“An explosion of high-end baby gear is putting pressure on mums to spend big.

The cost of raising a baby, including childcare, prams, cots, clothing and doctors’ bills, is now $9840 a year on average, research by Practical Parenting magazine shows.

But Carmel McCartin, who runs budgeting website Budget Bitch, estimates parents could save thousands by taking shortcuts.

New top of the range prams can cost $1400, while a mid-range stroller is $500-$600. But eBay sells them near-new for hundreds of dollars less. Other tips include joining a babysitter club with other mothers to avoid up to $100 a day in childcare costs.

Free baby gear can be found at freecycle.org, and hiring a baby capsule from the local council will cost between $70 and $100 with a refundable bond.

For those who have the time, cloth nappies are an economical alternative. Estimates suggest a child will have an average of 6500 nappy changes from birth to toilet training, costing more than $3000.

But terry towelling nappies cost about $3 each, while more effective modern cloth nappies can cost about $25 each new – an overall outlay of about $700.

Real Mums founder Amanda Cox said parents were bombarded by shops selling items they did not need.

“Most of it is manipulation … to get you to buy things you don’t actually need but they want you to have,” she said.

Ms Cox said change tables were handy, but a simple change mat on a bed or floor, or even a folded up towel could suffice.”


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