My partner and I are discussing the possibility of a baby in the future. (I have kids to a previous relationship, both school aged, he has none but has been a wonderful male role model to my 2).
I am thinking we need to save up a large amount say $5000 or so, before we even consider a baby. Will this be enough and what other topics should we discuss/debate beforehand (both my babies were accidental/not well planned for, so I'm a little out of my element)
Oh and we both work full time, both eligible for parental leave (last I checked) and by the time we decide- which could be years in the future- we could potentially have a bit of holidays up, can anyone give information on how that sort of thing works (just in general, I'll be asking/looking it up in my specific business)
How much does a baby add to general household costs, (it's been a while since I dealt with financials for a baby.) and around how much is childcare these days for under 1 year old baby?
Sorry if this is a little confusing, I'm not very good at asking this sort of stuff.
1 Replies
I think what you save depends on how comfortable you are financially at the moment. Also if you will be able to pay mortgage/rent/bills with one of you not working.
Babies don't have to be expensive, depends on your expectations. I got set up for a baby with a few hundred dollars because I was happy with second hand, hand me downs etc.
The biggest cost of a baby is nappies and formula if needed.