How much does a baby cost per month in the first year?

Before you make that major life decision, take a careful look at your finances, since you’ll need an average of $1,500 a month in your first year. Babies are life changing, and wonderful, and cute as can be, but for something so small, they sure cost a heck of a lot.

How much will you spend on diaper products for your baby’s first year?

Here’s a general breakdown: The average diaper costs anywhere from $0.20 to $0.30. Assuming your baby uses 2,500–3,000 diapers in their first year of life, you can expect to spend about $500-$900 on an annual supply. This doesn’t count the cost of other diapering supplies, such as wipes and a changing table.

What is the cost of diapers for the first month of life?

Diapers: Diapers also vary in cost, but experts advise that you should budget $75 for monthly diapers. Parents who choose to use disposable diapers should expect to go through as many as 3,000 diapers in their child’s first year alone.

How much does it cost to raise a baby in the first year?

Your baby’s first year will cost roughly $12,000. That includes diapers (estimated between $70 and $80 each month, according to the National Diaper Bank Network), food, clothing, furniture (a nursery costs about $2,000, according to The Bump), routine out-of-pocket doctors’ expenses and child care.

How much should I budget for diapers and wipes per month?

Diapers/wipes The average cost of diapers per month can run about $60. If you shop smart, you can budget for about $40 per month. For cloth diapers you can expect to save about 35-40\% the cost of disposable diapers per month. On average, budget about $20 per month for wipes.

How much are disposable diapers monthly?

Disposable diapers for a single baby will cost around $70 a month and $840 a year. Babies will use about 6000 diapers during their first two years of life. 95\% of mothers in the U.S. solely use disposable diapers for their children.

How much money should I have saved before I have a baby?

A normal pregnancy typically costs between $30,000 and $50,000 without insurance, and averages $4,500 with coverage. Many costs, such as tests that moms who are at-risk or over age 35 might opt for, aren’t totally covered by insurance. Plan to have at least $20,000 in the bank.

How much money should you have saved before you have a baby?

How much does a baby cost per month Canada?

The cost of raising a child in Canada is offset by the Canadian Child Benefit which provides up to $6,639 per year ($553.25 per month) for each eligible child under the age of six, and up to $5,602 per year ($466.83 per month) for each eligible child aged 6 to 17.

How much does the average parent spend on diapers and wipes?

The average cost of diapers per month can run about $60. If you shop smart, you can budget for about $40 per month. For cloth diapers you can expect to save about 35-40\% the cost of disposable diapers per month. On average, budget about $20 per month for wipes.