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The most important thing in our life is the need or requirement to become a parent so that we can feel what it likes to have a baby of our own. It is true that there is nothing more beautiful that a baby smiling. If you are planning to have a baby or you are already pregnant, you should also consider the cost of having a baby. You may think that babies are cute and you should have one but you should also consider the fact that it really makes a difference in your monthly income if you have a new born baby. This is why it is really important that either you are already a parent or planning to have a baby, you prepare baby expense budget.
Types of Baby Expenses to Consider for Budgeting:
When it comes to babies especially the new born babies, they need a lot of stuff that you may think isn’t important but in reality, everything you buy for a baby is important in its own way. When we talk about baby expenses, there are basically two types of expenses including onetime expenses and monthly/ongoing expenses. Onetime expenses are the expenses that you need to make only once when you become a parent where on the other hand, the ongoing expenses are the expenses that you will make every now and then i.e. every week or every month.
These are the expenses that you make only once i.e. before or after the baby is born. This includes decoration of the nursery or remodeling of a room for the baby, buying a crib and car seat for the baby, changing table, baby monitor, bathtub for the baby, bottles to feed the baby, breast pump for nursing purposes, diaper bag, stroller and baby carrier.
These are the expenses that you will be making for a long time after your baby is born. There are some ongoing expenses that you will only make once a year i.e. checkup with the doctor without any illness or ailment and there are also some expenses that you will make twice or 4 times a year. On the other than, there are more common expenses that you will make once or twice every month i.e. buying diapers for the baby, buying clothes for the baby, expenses of food i.e. cereal and formula for the baby, toys and insurance payments for your baby.
You can see that these are the expenses that you will need to make for a really long time after you become a parent. For example, until your child is at the age where he can pee by himself or at least he can tell you that he needs to go to the bathroom, you will need diapers for him. In this manner, this category also includes the medical expenses that you will be making. This is because babies are get sick more often and when it’s your baby, you can’t risk going to a cheaper doctor and experienced doctors cost more money along with the expenses of buying medicine for the baby.
Here is preview of a good looking and comprehensive Baby Expense Budget Template created using MS Excel by my staff to assist our visitors.
Free Baby Expense Budget Templates
Download all these Free Baby Expense Budget Template that can easily help you to prepare your own Budget effectively.