2023 / Personal Finance

Budgeting for Baby 2023

WFO 23 Apr Issue 4 'Budgeting For Baby'. Image shows a cute baby crawling around the nursuery. Read this article in WFO 2023 Apr Issue 4 on p24

Becoming a parent is a life-changing experience and having a baby is one of the most exciting times in life – but it can also be one of the most expensive.

If you are considering starting a family, preparing for this financially should be some­thing you consider early on to avoid any extra stress this may bring along.

Having a baby is certainly not cheap and the costs you may encounter straight away are the exciting costs such as decorating a nursery and choosing the furniture and all the cute little outfits you can dress the new baby in – how sweet!

The Things We Don’t Consider When Budgeting for Baby

The things we probably don’t consider in the early days are the hidden costs and ongoing costs such as childcare, medical, and pre-birth expenses, increased costs to your utility bills and living costs.

The average cost of a new pram could be over $1,000 – then of course you might need a new car to fit it in – oh, and a baby needs a new car seat for the new car too. The costs can seem endless.

Here are my 5 considerations for thought! …

Read the full article in WFO 2023 Apr Issue 4 – Click below to subscribe now

Read Budgeting for Baby by Leanne Bielik for useful tips to help prepare for one of the most exciting times of your life in WFO 2023 Apr Issue 4.

WFO Women's Money Magazine WFO 2023 Apr Issue 4. Cover Image shows a woman wearing a red spotted on a red background. She has short brown hair, and has a her fingers touching each other as she contemplates her future. This WFO issue focuses on Children and mortgages.
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