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How can I calculate a baby’s budget?

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We know that thinking about adjusting your finances with the arrival of the little one can be a bit stressful, but don’t worry! Nowadays, there are so many options and online tools that can be your compass to create a budget that’s ready for your family’s lifestyle, and any surprises that may happen along the way.


Here are some basic tips to become a budgeting expert. This way, you can stop worrying too much about your finances!

  • When you put together the family budget, first write fixed expenses (rent, utilities, health insurance, diapers, and all those essentials), discretionary spending (outings, movies, shopping, etc), and, of course, the amount you’d like to put into savings. While some may match expenses to income or even go beyond, the smart long-term strategy is to stay within your means.
  • How much to save? Let’s say it together: there’s always room for more savings! But for those who find it challenging to save a portion of their salary, remember to have an emergency plan. If something unexpected happens at work, your savings will be the lifesaver that keeps you afloat without touching retirement funds or your child’s college savings.
  • Now, as part of the preparation for the baby’s arrival, sit down with your partner and design a family budget. You can peek at each other’s bank statements to have an objective idea of your expenses, or seek advice from experienced parents on average costs for diapers, pediatric visits, and unexpected expenses.

The key with a budget is to have a goal in mind. It could be paying off debts, saving a bit more, or even starting a “baby college fund.” Planning your finances will not only help you cover expenses and save but also bring you tranquility! There’s no one-size-fits-all model; every family has its own story and needs. So have fun with the numbers, find that perfect balance for your family, and don’t forget to stick to that budget!

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