How much does a first baby cost?

Babies (children) are expensive – I am sure that’s no surprise. But a new survey reveals that the cost of starting a family is probably more than we realise….Just how much does a first baby cost?

Mumsmall.com, the product comparison site, has conducted several polls over the last few months on expenditure for a first time baby and £10, 500 is the quoted figure. For budget conscious families, half this sum to is likely to be needed in preparation for the baby’s arrival.

Gemma Campbell, data analyst at mumsmall.com says:

Before baby arrives, parents typically shell out more than £1,500 on pre-natal expenses, such as maternity clothing and other pregnancy-related necessities, and essential newborn nursery furniture such as a cot. But spending jumps sharply once baby arrives. Buggies and strollers, car seats, health and safety items, personal care products, travel accessories and daily consumables, such as nappies, formula and weaning food, can easily add another £4,450.

Not to mention the costs of childcare (or loss of earnings), home renovations and other ‘not always necessary’ items such as high-tech or designer accessories – all of which up costs.

The good news is that after your first baby, you’ll have most of what you need. So the initial cost will be significantly less the second time around.

And there are ways to keep costs at a minimum: Ebay, FreeCycle, second-hand stores, loyalty cards and bulk buying are just a few examples.

But when all is said, done and paid for, our children are totally worth it! Family is priceless.

Source: Askamum.com – “Cost of having a first baby soars to £10,500”.