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For a guy, and especially from a purely financial standpoint, having a baby just doesn’t make any sense. After all, what does a baby do other than sleep, eat, poo, pee or cry?

But you need not feel that way about your little bundle of joy!

Here’s how much money to set aside for your first year with the new bearer of your family name. From the shoestring budget to the extravagant - no expense has been spared to work out a budget for everyone.

Do note that the below are ballpark figures and that we’ve yet to factor in costs of visits to the paediatrician, medicine, vaccines and other unforeseeable expenses.

Poor dad

Bare essentials monthly baby budget : $145 and below

Only the critical stuff, nothing fancy and yet with no compromise on health for your baby. For the family with a stay-home mummy, this is how far $145 will get you:

Item   Amount  
* Childcare   $0  
Stay-home mummies can take care of the baby, so no expense there. Phew.
* Milk   $75  

A mixture of breastfeeding and typically after 6 months, breast milk and/or powdered milk. An 800g tin of powdered milk goes for around $12, and you can count on using up to a tin per month.

* Diapers   $48  

(Baby cloth nappies:$30, Disposable diapers: $18)
Only use disposable diapers when you are out, assuming also that this is only during weekends. Use traditional nappies for daily diaper changes instead of disposables.

* Miscellaneous   $18  

(Baby Powder: $5, Shampoo: $8, Wet Wipes: $5)
Of course, you can probably expect to use more baby powder than we’ve budgetted for here. But there is a reason why we’re calling it a bare essentials budget.

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Not-so-Poor dad

Typical family monthly baby budget $385 - $450

Here, we’ve thrown in just a little extra to pamper your baby – and your wife. It’s not lavish by any means, but with the extra thrown in, the one who benefits most will be your wife, and ultimately, yourself. For the family with a working mummy, this is how far $385 will get you:

Item   Amount  
* Childcare   $200  
Basically, this amount involves placing your baby with your in-laws or with your parents, with some monetary compensation for their time. To put it in plain money-talk for you, professional infant care is something you really cannot afford at this budget level.
* Milk   $120  

Your wife should still breast-feed your baby for the first six months, but expect your expense to go up slightly because you’ll need to purchase manual milk pumps and storage containers so that Junior can have breast milk while she is at work. The cost of powdered milk formula after 6 months of breast-feeding remains the same.

* Diapers   $45  

Here’s where you can splurge a little. As working parents, who has time to fuss with cloth nappies? Disposable diapers are literally the way to go. For $45 and with disposable diapers at about 25 cents per piece, you’ll be budgeting for about 180 pieces – if junior can refrain from pooping and peeing too much, you’ll be set for an easier time at night and during outings.

* Miscellaneous   $85  

(CDs (single purchase) or baby toys: $65 Powder: $5, Shampoo: $8, Wet Wipes: $5)
Can’t afford expensive infant care? No problem! Simply purchase some tailored classical music (Mozart or Bach is recommended) to serenade your crying junior.

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Rich dad

Spare no expense monthly baby budget - $1200

This is the no-holds-barred budget for those who have it to flaunt. For a family with a super-woman working mummy, this is what $1200 will get you:

Item   Amount  
* Childcare   $800  
You want more than basic care. On average, infant care will cost around $700. The high cost is due to the extra attention and care needed for infants but you can also be more efficient at work knowing that your child is in safe hands.
* Milk   $200  

Super-woman mummies use double electric pumps and milk storage containers to maximise efficiency – and that’s where the bulk of the money goes. The budget allocation for powdered milk formula remains the same. After all, there’s only so much a baby can consume.

* Diapers   $150  

Disposable infant diapers of absolute comfort are the only way to go at this budget level. No washing, no fuss, and comfort for everyone - all day and all night.

* Miscellaneous   $30  

(Powder: $8 Shampoo: $12 Wet Wipes: $10)
You’ll want to splurge on these. Feel free to bust this particular budget.

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Spare the rod and save the child | Father time | How to be a fantastic father | Que Sera, Sera | Rich dad, poor dad

 
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