Having a baby costs money. Much like anything in the world, there are expenses involved with keeping your baby clothed, fed, happy and healthy. It is 100% worth it but, sometimes people don’t realise how much you will spend within a year of having a baby let alone raising them to 18.
We are going to break down the expenses you will face within year one of the baby’s life and hopefully give you some tips and tricks along the way. We will also include some extra things you may want to consider investing in.
As a heads up, this will be information for people in the UK.
If you’re curious, read on!
The Birth Itself
Now, we know when it comes to prep work you will be doing this month in advance baby’s arrival. We also know that this is where a decent chunk of your money will be going. So, let’s take a look at this together.
Typically, items-wise, you’re looking at a list like this:
- Cot or cot bed
- Feeding Items
- Nappies, baby wipes and other changing supplies
And this isn’t necessarily everything, every family will have a different list, this is just a handful of the most likely items.
Let’s take a look at some of the higher-cost items on the list first.
Taking highchairs as an example, if you want to go for something durable but reasonably priced, you’re looking at potentially £100-200. Decently affordable but maybe not for everyone.
Similarly, cots and/or cot beds can set you back anywhere between £40 and £600+ depending on what you want. A midrange cot will do most people just fine but again, you have to be savvy sometimes if you can’t find what you need in your price range.
Shopping around is one the best ways to ensure you find what you need for the price you can afford. On top of this look at any and all reviews of the items, you have your eye on. Ask friends and family too for their top tips. In combination, these can help greatly while you pick the right item for you.
The smaller items on this list can also add up over time. Constantly having to top up nappies and wipes, new clothes as your baby grows quick, certain toys that main get damaged or lost, there will always be something.
For 2022, on average, a family will spend somewhere in the region of £11,498 within the baby’s first year.
The Necessary Bits and Pieces
The newborn spot test is offered to all mums, and it is not a compulsory test. It is a good option though so have a discussion to have with your midwife. This test does cover a good range of health conditions but what if you could find out even more health issues your baby may be predisposed to?
Let’s introduce you briefly to the Newborn Genomes Programme.
As discussed in the Woman’s Hour segment Vivienne Parry of Genomic England and Rebecca Middleton who works for Genomic on the panel representing parents and health care professionals are working on a project talk about further genomic sequencing for newborns.
The project aims to widen the number of diseases tested for, to help parents make early changes to keep their babies healthy. The way it will work is a sample of blood or saliva will be taken from baby and then tested against actionable genetic conditions that may affect their early life.
This project is being created by Genomic England, working closely with health care professionals as well as parents to figure out both the benefits and potential downfalls of this sort of testing.
This testing has some interesting potential. Working with both the professionals for technical elements and parents for more of the ethical dilemmas, most people seem to agree that this idea is great but needs to be done right.
The team hope to launch the research pilot in mid-2023 to evaluate whether this project could work.
That final number may not take into account any extra services or things you buy while you are preparing for your baby.
You may re-do an entire room for your baby which will contribute to that cost. Perhaps you are making advanced plans for lessons, classes, or items for your baby. There may be other specialised medical treatments the baby might need. Maybe you are planning for their future from the moment they are born.
Stem cell banking is something not everyone knows about but might be worth the investment. At Cells4Life have a variety of payment options and we are always willing to chat about individual circumstances to give customers the opportunity to save their baby’s stem cells.
By storing their stem cells, you give them access to a 100% match for themselves should they need a treatment or therapy. This will obviously add to the cost of raising your baby but it does provide them with a medical safety net, so is very much worth a look.
As you can see and probably already knew, raising a baby was never going to be cheap but it will absolutely be worth it.
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None of the information on this website pertains to medical advice. For medical advice and support with your healthcare please speak to your designated Healthcare provider.