The Economics of Babies
Babies are expensive! There are initial expenses such as
clothes, crib, car safety seat, and stroller, continuing
costs such as diapers and food, and medical costs. You might
also consider the cost of child care if you work outside the
home instead of staying home with your baby.
If you decide to stay home and you have been a two-income
family, switching to one income is sometimes challenging.
You will need to adjust your household budget and resolve any
conflicts that less money may create.
Hints on the Economics of Being a Parent:
- It may actually be cheaper to stay at home with your baby
than to go back to work.
- Entertain at home. Dinners cost less to cook and you do
not have to pay a baby-sitter. Potlucks are also an easy
way to lighten your workload.
- Baby-sitting coops are a great way to make new friends
and will help your baby develop social skills.
- New parents are great targets for all sorts of
promotions. You can expect to be deluged with phone
calls, direct mail, and callers. Take your time, and
think carefully about whether you really need the
products.
- As with everything else in parenting, things generally go
much better if you prepare ahead of time. If you can,
use the time before you have the baby to save money, to
pay off debts, and to get your finances in better shape.
- Economics and finances can be a source of conflict and
anxiety in many families. You may want to schedule
regular times when you and your spouse can review the
family's finances and decide what to do.
- After you become a new parent, you need to make out
a will. Decide who will raise your child if something
should happen to you.
- If extra income is needed, consider working at home.
There are many kinds of home-based businesses.
Written by Kate Capage.
This content is reviewed periodically and is subject to
change as new health information becomes available. The
information is intended to inform and educate and is not a
replacement for medical evaluation, advice, diagnosis or
treatment by a healthcare professional.
Copyright © 2006 McKesson Corporation and/or one of its subsidiaries. All Rights Reserved.