Are you planning to have a baby? Then it’s time that you know about the various extra expenses you will encounter every month. You need to have solid financial planning to deal with these expenses without getting into debt. Here are the major expenses you can expect.
The childbirth expenses can be high, especially if you have to go through a C-section. Before giving birth, you may have to go to the doctor for check-ups. If there are any complications, then the medical cost will be higher. Even after birth, you may have to keep the baby under the supervision of the doctor.
Your health insurance cost will increase as you will now include your baby in the plan. You will have to give the baby vaccinations and take him or her for regular checkups. Health insurance can cover those costs.
You will need to buy a lot of baby stuff which includes car seats, diapers, bedding, toys, clothing, and other things. When you visit baby shops, you will feel like buying them all. So, there is a high chance that you will exceed your budget when buying baby stuff.
Feeding your baby
You will probably breastfeed your baby during the initial months. But some parents prefer giving infant formula as well. Baby food can be expensive. Along with the regular feeding hours, you may be dream feeding your baby.
Therefore, you need more infant formula. As they start growing, you will need to include various types of baby foods in their diet. You will have to spend a considerable amount of money on baby food.
So, you must make your financial plan to make sure you can pay for those expenses every month. After all, you need to ensure that your baby grows up in the best condition.