The joys and the excitement that accompanies parenthood, is something of an odyssey in itself. However, with parenthood comes responsibility. It is a limbo between heaven and hell, which if not managed properly, can drag you to the extremes of those pits. Maybe not literally but you get the gist, especially if you are a UK resident.
According to a survey conducted by Money Advice Service in 2016, there were some dizzying figures that were brought to the floor:
- Parents end up spending an approximate sum of £11, 498, during the first year of their baby’s life. Takeaway the cost of childcare from the amount and you still end up within a range of £5000 to £7000.
- 10 percent of the families claimed that they have postponed their next child because of the soaring expenses of living in UK.
- 20 percent of the mothers had to return to work earlier than expected to cover for the expenses, while over half of them have been willing to work for extra hours or look for a second job.
How is the Cost Distributed?
Let’s look at the distribution of expenses to get a more in depth idea on this subject.
Just Before the Descendance of the Little Angel
First thing that comes to mind is your baby’s own new home. NHS advices to have your baby sleep in your own room during his/her first six months. But you still need to invest in a Moses basket or a crib as per your convenience. It can cost you anything from £30 to more than £300.
Constantly changing nappies and clothing can cost you over £260 in total, just in your first month. Add to that the toiletries, feeding and sterilizing equipment, baby cosmetics and toys, and there goes off those £300 notes from your wallet.
Although many of the expenses of above commodities can be priced under ongoing costs as well, there are few more that we would like to add.
For travelling purpose, you need to get a car seat and a pram. These push chairs can end up costing you over £800, while the car seat can cost you around £95.
With a growing baby, you can add expenses of additional furniture and a baby monitor, making you realize how costly all this can be within the first few months of your newborn.
Go for second hand version while shopping for furniture and prams.
You can even ask in your social circle to gift wrap some of these things for your newborn.
Use cloth napkins rather than disposable napkins.
Statutory Maternity Pay is something that you can ask from your employer besides the basic allowances schemes that the government has to offer.
Having a baby is a blessing that one should welcome with open arms and with planning you can work your way out towards having a safe future for your family. If you are planning to have one or the baby has already issued an arrival date, obviously babies don’t stick to the schedule, you can use this cost-of-having-a-baby calculator and do the budgeting accordingly.