What is the one year cost of ownership for a baby? We've tracked several expenses that are directly attributable to the baby and aggregated them here.
What Expenses are Included?
- Medical - cost of delivery/c-section + cost of hospital stay (including NICU) + all associated trips to doctors' offices (all are what we owed after insurance) + cost of his insurance
- Diapers - cost of diapers + cost of wet wipes used in diaper changes
- Formula - cost of baby formula
- Baby Safety - cost of car seats + cost of rug and pad for baby to lie on for tummy time, play time, etc.
- Daycare - cost of daycare
- Lost Wages - wages lost from mother's FMLA + cost of mother's benefits during FMLA - disability insurance payout - wages gained by cashing in vacation and sick leave
- Nursery - cost to set up the nursery
- Other Food - at around six months he started eating other foods, so this includes vegetable purees, foods we prepared for him, etc.
If you would like to see these same costs at three months, they can be found here. The six month costs can be found here.
Results
The 12 month totals for each category are listed in the table below:The expenses listed above are plotted vs. time as they accumulated in the interactive (non-mobile) chart below:
As mentioned in this post, the baby saved us $1150 on our 2015 taxes. Our 2016 taxes should show the same savings + a write-off of $5000 of income for daycare expenses through an FSA. Again assuming a 25% tax bracket, that will net us $1250, for a total savings of $2400 on taxes.
Takeaways
It's become even more obvious at this point that daycare is by far the biggest expense and will continue to grow. It more than a third of the ~$25,000 first year cost. There's no real mitigation for this one either as one of us quitting our job would be far more expensive than daycare (easily an order of magnitude over our professional careers) and we're at one of the least expensive daycares in the area.
The good thing about that I guess is that the other expenses don't seem so bad by comparison. It's not stressful at all to spend slightly more on diapers we want, more bottles for convenience, etc. as saving $2 a week here and there really doesn't matter anymore when faced with the cost of daycare.
I don't think my lessons learned have changed at all since the six month post so I'll write it again here:
- Find a job that pays you for parental leave or has really good short-term disability coverage
- Find an insurance provider that has good coverage for pregnancy expenses
- Find a cheap daycare (note that you do get what you pay for to some degree so be careful with this)
- Get second-hand nursery items
Well, it's the first time I meet an article which considers baby as an investment or saving :) But, anyway, it was really useful to read such a comprehensive financial report.
ReplyDeleteSophie van der Linden
www.best-pack-n-play.com
When it comes to contraception it is easy to be baffled through all the options available. You might be wondering if you should get the mainstream mixture pill or you should have a good IUD more. It is crucial that you know what options are available as well as why you need to or even should avoid using all of them.
ReplyDelete24 hour urgent care near me assist could be restricted whenever such circumstances happen during the night or early morning hrs. It is also hard to try and look for a close by immediate care center along with doctors within duty more info.
ReplyDeleteUrgent care centers near you are very important. They help people get immediate medical help without having to endure the emergency room quick guide. They are great when you cannot go to your primary care doctor, when your primary care doctor cannot handle the type of medical issue that you have and when you need help right now.
ReplyDeleteMany are Jennifer Gelsick or have medical or healthcare backgrounds and understand a lot of the technical terms doctors may not explain very well. They can help you find resources and supports in your community that you might not be aware of.
ReplyDeleteI visited your blog for the first time and just been your fan about this concrete patio contractors san diego topic. I Will be back often to check up on new stuff you post!
ReplyDeleteNew Apk games for kids
ReplyDeleteI never thought I will come in contact with a real and potential hacker until I knew brillianthackers800 at Gmail and he delivered a professional job,he is intelligent and understanding to control jobs that comes his way
ReplyDeleteContact him and be happy
This comment has been removed by the author.
ReplyDeleteYou would simply need bambo diapers review to round out their structure and sit tight for your free Huggies diapers.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteHarrah's Cherokee Casino & Hotel - Mapyro
ReplyDeleteFind 전주 출장마사지 the best prices on Harrah's Cherokee 보령 출장마사지 Casino & Hotel in Cherokee, NC and Save BIG on Your Next Stay! Compare Reviews, Photos, & Availability 오산 출장샵 w/ 하남 출장마사지 Travelocity. 태백 출장샵
Denizli
ReplyDeleteKonya
Denizli
ısparta
Bayburt
LPY5L
sinop
ReplyDeletesakarya
gümüşhane
amasya
kilis
YMX
sakarya
ReplyDeleteyalova
elazığ
van
kilis
5EİC3E
van
ReplyDeletedüzce
mardin
elazığ
sakarya
TBK4A4
https://titandijital.com.tr/
ReplyDeleteçanakkale parça eşya taşıma
kırıkkale parça eşya taşıma
erzurum parça eşya taşıma
burdur parça eşya taşıma
XB7
When I and my wife started the process of purchasing our new home for us and our kids, we never expected to run into any problems with our credit report. We felt we were diligent in keeping up with our scores and what was reported without noticing any errors. We got faced with a significant credit reporting error that was going to make buying our home impossible. We were completely discouraged, and we felt helpless. From the moment we contacted 760Plus Credit Score, they were responsive, knowledgeable, and helped to set aside our fears. It was done in a way that also gave us realistic expectations, which we needed. We thank you immensely for helping us realize our long-term dream of becoming home owners. I’m recommending your services, as promised. Reach out to them via email: 760PLUSCREDITSCORE@GMAIL .COM or text 815 524 8116. Thank me later.
ReplyDelete5B0D8
ReplyDeleteÖn Satış Coin Nasıl Alınır
Btcturk Borsası Güvenilir mi
Bitcoin Nasıl Alınır
Gate io Borsası Güvenilir mi
Twitch İzlenme Satın Al
Parasız Görüntülü Sohbet
Binance Ne Zaman Kuruldu
Kripto Para Çıkarma
Kripto Para Kazma
DE88A
ReplyDeletehuobi
filtre kağıdı
mexc
en düşük komisyonlu kripto borsası
canlı sohbet ücretsiz
referans kimligi nedir
bitcoin hesabı nasıl açılır
en iyi kripto para uygulaması
aax
DC82D
ReplyDeletegate io
en iyi kripto grupları telegram
paribu
bingx
filtre kağıdı
referans kodu binance
okex
bibox
poloniex
64AFA
ReplyDelete----
----
----
matadorbet
----
----
----
----
----
AD600
ReplyDeletewhatsapp güvenilir şov