How Much Should I Budget for Baby Food and Diapers

Article

Starting a family – how much does a baby cost?

Starting a family Family finances Budgeting

Having a baby is wonderful, but the costs of starting a family can be astronomical.

The average cost of the first 12 months alone is £6,000 – or £500 a month – according to research by the insurer LV, and many parents choose to go way above this figure. The good news is, you don't have to.

There are lots of ways to keep the costs of raising your child down – and it all starts with planning before your little one even arrives.

This article will cover:

• What to buy when expecting a baby
• The essentials and non-essentials you need before the baby arrives
• Everything you need to know about paternity and maternity leave
• Early days essential equipment
• Childcare costs
• The costs of raising a toddler and beyond

Breastfeeding is free – but there are plenty of other things you'll need to pay for

What to buy when expecting a baby

You could literally spend thousands of pounds kitting out your baby. But the advice for new parents is to be saavy shoppers.

While there are some things you can't do without, lots of things really aren't necessary and many more you can get second hand. You can use the money you save to invest for your child's future instead.

The Essentials

1. A car seat
   New, as you need to know the car seat has never been in an accident. Average cost: £100 – £200
2. Clothes
   Don't spend too much on baby clothing; babies grow fast. Plus you will likely get given some cute baby outfits as presents from generous friends and family. But do get several onesies, and buy plenty of bed linen and muslins. Average cost: £50 – £60
3. Nappies
   In the first few weeks, disposable nappies tend to be easiest. Buy in bulk! Average cost: £12 – £24 in the first month
4. Food
   If you're breastfeeding, you will need easy-access underwear and clothing (although don't buy too much in case you can't breastfeed for long), plus maybe a breast-pump and a few bottles. For bottle feeding, you'll need formula, sterilising equipment, and bottles. Average cost: £50 – £100
5. Moses basket
   Your baby will sleep in a Moses basket or crib in your room for the first six months. You can buy second hand, just invest in a new mattress. Average cost: £70 for a new basket, £20 for a mattress
6. Baby bath
   A large washing up bowl will do, but a baby bath on a stand can save your back. Average cost: £25
7. Pram
   A travel system including a car seat, carrycot, and pram can work out cheaper overall. Average cost: £150 – £1,000
8. Changing bag
   You'll need somewhere to put everything when you're out and about, but a normal rucksack or holdall is fine. Average cost: £25

The Non-Essentials

1. Play mat
   Important for development, but a blanket with a few toys does the same job. Average cost: £25
2. Baby bouncer
   Somewhere safe to put your baby while you go to the loo! Average cost: £20 – £300
3. Changing mat
   Handy and easy to clean, although a folded up towel works just as well. Average cost: £7

Maternity and paternity leave

Having a baby isn't just expensive because of all the things you have to buy, but the time off work means there is less money coming in.

• Statutory maternity leave
  • lasts 52 weeks
  • only 39 weeks have to be paid
  • after the first six weeks, the amount you receive may fall from 90% of your earnings to just £151.97 per week for the next 33 weeks
  • some companies offer more, so check with your HR department

As long as your partner has been in their job for nine months, they should qualify for two weeks of paternity leave (male or female in a same sex couple) on at least £151.97 per week.

Some employers offer full pay during the fortnight so it's a good idea to check.

Shared parental leave, which allows couples to split 50 weeks of leave before their baby's first birthday, is also worth considering.

Cost-cutting tips

• Use a free baby costs calculator to get an idea of how much you will spend.
• Look out for special offers. I got a £150 car seat for £50 by choosing a less popular colour (my son definitely does not care!).
• Join local parents' groups online. They are a great source of free and cut-price gear.
• Don't buy too many toys – that's what friends and family are for.
• You're going to be doing lots of washing! So if your washing machine is on its last legs, get a new one in the sales.
• Read our article on the cost of childcare: what help is available?

What to do during the early days

First smile, first laugh, first eight-hour sleep (hopefully) – there are many incredible moments in the first six months. Lots more things to buy too!

Equipment that you will need

As in the first few months, you will need certain items. They don't need to cost the earth, though.

• Cot – a second-hand one with a new mattress is a great shout. A cot-bed, which turns into a toddler bed, is even better.
  • Average cost: From £70 new
• Baby monitor – you'll probably need a monitor once your baby starts sleeping in his or her own room. See if any local mums have one they don't use anymore hiding in a cupboard.
  • Average cost: £20 – £250
• Nappies – washable nappies are an eco-friendly way to get around the estimated £261 a year you will otherwise spend. In my experience, they're great for daytime usage at home, not so great for travelling or overnight.
  • Average cost: £150
• Stair gates – once your baby starts crawling, you need to secure the stairs to prevent accidents.
  • Average cost: £15 – £50
• High chair – vital for mealtimes, but you can get one second-hand.
  • Average cost: £30 – £300 new
• Playpen – not essential, but it is useful. Why not use a travel cot as a play-pen – then it can double up as a bed when you go away?
  • Average cost: £30

Childcare costs

Childcare fees make up a big percentage of the cost of raising a child if you go back to work. Government figures suggest parents typically spend £242 a week for 50 hours of full time care for a child under two in England and Wales.

You may be able to reduce your bill by up to 20% by applying for tax-free childcare.

We have lots more information on this scheme, and other ways to lower your childcare costs in our How much does childcare cost, and is there anything out there to help? Q&A.

Cost-cutting tips

• If you earn under £60,000, apply for child benefit as soon as you can after the birth. You will probably get a leaflet about it at the hospital or when you register the birth.
• See if you can borrow items you will need short term, such as stair gates, from friends.
• If you choose reusable nappies, check whether your local council offers a voucher that can go towards paying for them, or a free nappy kit.

Toddling and beyond

According to the Child Poverty Action Group, raising a child to the age of 18 costs a typical couple an eye-watering £151,000. This includes housing and childcare costs. That's around £8,389 a year, or £699 a month.

But while food bills will go up over time, other costs should start to fall.

For help with budgeting, take a look at our Guide to creating a family budget and Guide to child benefit.

Food

Most babies start eating proper food at around six months. You might be surprised by the difference this makes to your weekly food shop.

Ready-made pouches are undoubtedly convenient when you're on the go, but cooking their meals yourself gives you more control and should work out cheaper too.

The quicker you can get them eating more or less the same as you, the easier it is to save.

Childcare

When your baby reaches the age of three, you can start claiming 15 – or in some case up to 30 – hours' free childcare a week.

Primary school starts the September after the child turns four, at which point your costs could drop to around £60 a week if you only need after-school care. Find out more about how to keep down the costs of childcare.

Cost-cutting tips

• New mums are entitled to free prescriptions and dental care in the first 12 months. So get your teeth checked before your baby turns one!
• Keep buying second-hand clothes – these are really handy for nursery, where your child will probably get covered in food and paint. Keep an eye out for second-hand toys too.
• Do babysitting swaps with local parents.
• Sell on anything you no longer need.
• Your local library can often be the best place to find free activities, as well as books and toys to borrow.
• Apps such as Mush can be a good way to track down cost-effective classes and groups.

Read next

How Much Should I Budget for Baby Food and Diapers

Source: https://www.thetimes.co.uk/money-mentor/article/starting-family-baby-costs/

Share this post