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The cost of baby Bean

April 11th, 2008 at 05:15 pm

I have posted about how worried I am about the cost of raising our new baby bean.

He's only bean alive 10 days, so it's too soon to tell, but I wanted to start a tally.

We've tried to be economical with everything.

The avg. new parents spends about $6,700 before the baby is born on thing like cribs, clothes and supplies. We spent $600. Everything was used except the crib. We also received many clothes and boxes of diapers as gifts. They have really come in handy!

Diapers: We spent about $200 on reusable cloth diapers, a brand called Happy Heiny's. They are one size fit all, so they should last. We bought some new and some lightly used through a diaper exchange.

Right now, we're using disposables, just because his belly button hasn't healed up yet and it's nigh impossible to fold down our reusable diapers to keep from irritating it.

Food: Right now, it's all about mama's milk. But the pump we borrowed wasn't getting the job done, so we rented one from the hospital for $60 a month. (about 2x was we expected, but still MUCH cheaper than formula.)

If we have to supplement for some reason, I have oodles of free Similac formula samples that the pediatrician and hospital gave me. I also received some free samples of it in the mail from Similac. It's all in the cupboard just in case.

College: Yes, I've been saving for Baby Bean's college since the first Ultra Sound. Right now, we're putting aside $175 a month into a 529 plan, which is enough to max out the $2,000 a year state tax deduction.

Still no word on the hospital bill. I have a 90/10 plan, and for some reason I'm under the impression that our out of pocket is capped at about $3,000. So we'll see. I am expecting to pay at least $3,000 for our birth plus 2 day stay at Chez Hospital.

Oh, and we did pay a $15 co pay at the pediatrician, and we'll have to do that again later this month.

Overall, I'd say so far so good. Beanie isn't totally breaking the bank.

Although, I am wondering how I am ever going to manage to go back to work....

14 Responses to “The cost of baby Bean”

  1. Aleta Says:
    1207934571

    Congratulations on your brand new little bundle. My dil used to pump her breast milk out and freeze it. When she did return to work, the nanny had it in the freezer. As soon as the baby started eating, she made the food from scratch and even froze some of it.

  2. sagegirl Says:
    1207939718

    My beanie babies are 10 and 4. The bulk of their expenses, aside from food and shelter, are day care, after school activities and medical care. Needs and costs change over time. It is challenging and you have to find even more creative ways to keep costs down.
    Best of luck to you and your new little fam.

  3. Maismom Says:
    1207946230

    Congratulations on your new baby. Kids are expensive, but they're sooo worth it!

  4. boomeyers Says:
    1207954688

    My kids were happily raised on garage sale items. I think they are better off for it. Hand me downs, bring em on!! Smile I only made it back to work for about 3 months and then we have been down to one salary for the last 15 years. Hope the baby is getting on a better schedule for you!

  5. homebody Says:
    1207961719

    I would like to start a 529 for my new granddaughter, who arrives in August, but I assumed I would have to wait until she was born.... will look into it now.

    Congratulations! What is this pumping thing???? I breastfed all three of my kids and never could get the hang of it. I worked 3 days a week, but went at lunch to feed the babies....

    My daughter has a pump system on her "wish list". I don't get it, she's not even working! (Not being critical, just figure a supplemental bottle is easier!)

  6. gruntina Says:
    1207971595

    Thank you for sharing. I have a lot of concerns if we can afford to have babies of our own and trying to get an idea how much it would cost from someone with a frugal perspective.

    I will be keeping an eye out on your blogs to learn from. Thanks

  7. thriftorama Says:
    1208022440

    Homebody--

    The pump helps you bring your milk in more fully during the first months of breastfeeding. It also allows you to build up surplus milk so mom can go to work or leave the baby with a caretaker and still have plenty of breastmilk to feed him or her.

    It's a good option for people who also have trouble breastfeeding, either due to nipple shape or latching problem, but still want to give their baby the benefits of breast milk. There are lots of reasons to have one! I think the Medela Pump in Style is the best one you can buy. Otherwise, she may be able to rent one from the hospital.

  8. thriftorama Says:
    1208050489

    Also, as for the 529 plan. My state allows you to open before the bean is born, you simply list yourself as the beneficiary. Then, once the bean's social security number arrives, you switch the account into their name. That's how we did it.

  9. homebody Says:
    1208097782

    Thanks Thritfo for both nuggets of info! Okay, I guess I'd better look for the Medela Pump! I really do want her to be a successful breastfeeder and be confidently doing it by the time her MIL arrives for a visit (but I will be there from the birth until such visit to help). I need to research the whole 529 thing.

  10. monkeymama Says:
    1208208045

    Homebody - Medela PIS. It's priceless. I got it so I could return to work and solely breastfeed my kids (I think I made them both 6 months with no formula - froze a LOT of milk for dh to feed them. Pumped a couple of time a day at work).

    Anyway, I ended up selling my pump to a SAHM friends. It is just SO freeing to be able to store up milk and get a break from your baby, even if you don't work. I mean it is hard to even get a night out when breastfeeding.

    Likewise, it helps with breastfeeding. If nothing else giving formula can reduce your supply. So you can take a break without supply worries. Hubby can help with night feedings, etc. I'd get one if I was a SAHM, knowing what I know now. I mean, the night feeding help is priceless, if nothing else.

    But yeah - the free formula samples were plenty for supplementation too - I remember have free formula out our years (which probably doesn't go far if you bottle feed, but goes plenty far when you only supplement).

    Baby will get easier. Phew. I sure enjoy the ages of 3/5 much more where they do not rely on constant 24/7 care. It's just a lot of work and the first few weeks are they hardest, they are just so helpless! But I guess that is why they are so adorable too. Wink


  11. homebody Says:
    1208222868

    I guess part of my not understanding was that I never had a problem with milk supply even supplementing an occasional bottle while working. I checked Medela and whew pretty expensive. Better go check E-bay!

    Lots on E-bay, just checked!

  12. homebody Says:
    1208224877

    Um guess what, I am so fast, I just bought one for $60.00 and that includes shipping.
    Item #: 370040665947.

    Can someone tell me if that is a good thing or did I just blow it?

  13. thriftorama Says:
    1208302408

    Homebody...That looks like the same pump I have...

  14. homebody Says:
    1208312556

    Oh goody. YD was pretty excited when I told her.

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