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Tuesday, July 30, 2013

Resource Spotlight: Baby Centers Baby Cost Calculator

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As I was paying my bills, balancing my checkbook and planning my budget for the next month I started to think to myself "I'm way too expensive, how could I cost so much? I'm just one person". I then started to think about how my finances and bank account would look once I have a baby. "Two people, double the cost?" I'm a planner; I like to know what I'm getting myself into before I do something so I searched for average costs for baby care and items. I found the Baby Cost Calculator on the Baby Center website. It allows you to decided if you'll need daycare, how many diapers on average you'll go through, what supplies you'll need like strollers, bouncers and toys. After you select the items you plan to get the total calculates at the bottom of the screen. It's a pretty neat tool that's worth checking out. It's obviously an average but it should give you a good ball park on what you'll need to save for your baby. I went through the list and checked things as if I were going to have a baby. I noted that I wouldn't do daycare, I would breast feed and I checked all of the supplies that I would want for my baby. My estimate came to $7,138 for the first year of the babies life. If I choose to do daycare the price went up to $11,746. Check out this free resource and plan for your future. These costs do not include medical care. 


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