How Much Money Is Needed to Prepare for a Baby?

Health Insurance

• Your first need is good health care coverage and a reliable pediatrician. If you have limited income, you might qualify for Medicaid coverage for your child. If you have an existing health policy for your family, talk with your agent to make sure you follow the guidelines for adding your new baby to your policy. According to eHealth Insurance, health insurance for a family of three starts at approximately $115.00 per month and can cost as much as $500.00 per month.

Food

• If you nurse your baby, you won't have to worry about buying formula. However, that doesn't mean you have no food costs. First of all, a nursing mother needs quality nutrition to produce good milk for her baby. Second, you will want at least two bottles for emergency feedings. Third, as your baby grows you will need to introduce other types of food. If you buy baby food, you can expect to spend approximately $60 a month on infant cereals and pureed vegetables or fruit starting near age 4 months.

Diapers

• Newborn babies need to be fed and have a diaper change at least once every three hours. You can expect to use at least 8 diapers in one day, and the number might be closer to 16, depending on the infant. Disposable diapers cost 15 to 25 cents each, making these changes come to between $2.00 to $5.00 per day. Cloth diapers start at $12.34 for 10 Birdseye gauze diapers and can cost as much as $49.99 for three fitted Kissaluv diapers. Cloth diapers can be reused but must be laundered carefully.

Car Seats or Beds

• Car seats are legally required for infants being transported in a vehicle. Some hospitals have exchange programs in place for new babies, where you are given a newborn seat that you can bring back and exchange for a larger one later. If you buy a car seat, they start at approximately $40 for a very basic model and can go to more than $650 for added safety features and comfort.

Clothing

• Your new baby will need a wardrobe appropriate to your climate. That means warm clothing and blankets in cold regions and coverings to keep off sun or flying insects in other areas. You can make baby clothes if you are handy with a needle, shop at yard sales and garage sales or buy them new. Babies grow fast, so you will replace that first wardrobe within 3 months. Costs will vary from 50 cents for an outfit from a yard sale to $10 or more per outfit if purchased new. Budget at least $100 for clothing and have several changes, since diaper leaks and food spills create added laundry.

Other Stuff

• You can keep costs down for your newborn by purchasing a sturdy crib that can be used throughout infancy. That and a comfy rocker are all the furnishings you really need for your nursery. However, you will also want a diaper bag, special soap, shampoo and lotions, as well as ointments to keep diaper rash at bay. A musical mobile to entertain baby while she falls asleep can also be helpful to new mothers.