It’s no secret having a child can be an expensive decision to make.  The cost of having a baby can be surprisingly high.  But if you are set on starting a family sometimes you just try and make ends meet as best as you can. It might help reading my earlier blog post 14 ways to save money when you’re pregnant to get a bit of a reserve before going off on maternity leave!

When to have a baby

If I am honest I don’t think there is a perfect time to have a child.  When you are younger you might have your health and more energy but you might be struggling financially.  As you get older it can be harder to conceive but you could be in a better situation with money to cope better with the cost of endless nappies and all the nursery equipment you feel like you should buy.

The infographic below about the cost of having a baby is quite revealing.

Consider breastfeeding

You can save a small fortune if you decide to breastfeed over using formula. Each to their own of course.  I completely understand why some people breastfeed and why others don’t but I kind of wish I had mastered if now.  It would have helped our family finances to the tune of £1567.60 in those first twelve months! That could have been a nice family holiday instead. I just wish we had noticed my son had tongue tie before we did so we could have established breastfeeding.

Nappies

Using reusable nappies saves over £100.  But its finding the time and energy to wash them! I love the financial saving and the environmental benefit of sticking with reusables.  Although I really felt like I had no time when my two were young.  I can’t imagine I would have been keen to wash nappies especially for the short time I had both my boys in them.  The joys of a close age gap.

Childcare

If you decide to go back to work and need to find childcare in Brighton or wherever you live, make sure you do your research early.  Slots at decent childcare providers can fill up quickly. The cost soon adds up.  It said 11k for the first two years which makes me glad I had the support of my mum and dad when I had a part time job when the boys were little. If you can rely on family help in-between and use a childcare provider part-time instead you can save just over 5k.  It might be worth seeing how you can juggle things to make a considerable saving.  Not everyone has family living by them in that case do check with your employer to see if they can do anything to help like offer flexible working or allowing you to work from home some days of the week.

But remember a child is always a blessing.  Even if you have some days you wonder how you will make your money stretch!  Regardless of the cost of having a baby you will get through those tough early days.  Be willing to reach out for help when its offered.