Your New Baby Can Cost You $20,000 in the First Two Years!

Having kids is an expensive endeavor! Just think about all of the new things that a baby brings to the equation:

Housing: Despite what my mother says, you can't keep the baby in the bottom drawer of your dresser. So he/she is going to need their own room. If you already have the space, then you just have to factor in an increase in gas, electricity, water, home repairs, appliance repairs, home furnishings, etc. Kids can be hard on appliances and furnishings, so don't expect your things to last as long as they used to. If your home isn't big enough, then you may have to buy/rent a bigger one. So factor in the cost of increased rent and mortgage payments.

Food: If you breastfeed (which I highly recommend) then you will save a great deal of money on formula for the first year of babies life. Deciding to make your own baby food, will save you even more. But you will need to factor in the cost of nutritious meals for mom and the supplies needed to make your own baby food. If you go the formula/baby food route then you can expect to spend anywhere from $100-200 dollars a month on formula.

Transportation: Here again, if you have been driving a mini van all along, you are ahead of the game. If you drive a small car- you will want to look into getting something larger. Factor in extra gas for all those visits to the doctors office, and the grocery store (because you will go more often once the baby comes.)

Clothing: Now this is one category that some parents have a weakness for. Those tiny little pink and blue outfits can really put a strain on your budget- especially when you consider that your little one will probably go through 3-4 outfits a day for the first 12 months of their life.

Healthcare: Your insurance premiums will go up and many insurance companies will also raise your deductible when you go from a "couple" to a "family." Little ones will need to go in for immunizations and well baby visits every month or two, and there is usually a co-pay involved there as well. The actual pregnancy and labor and delivery can also set you back a couple of thousand dollars depending on your insurance company.

Childcare: If you plan on sending your child to daycare or have a nanny in your home you can expect to easily spend at least $500-1000 dollars a month.

Miscellaneous: There are a ton of little things that you will need along the way, so it's always a good idea to have a bit of cushion in your budget.

Sarah Jones is a new mother to a 6 month old baby boy. She is an expert in saving money and staying on a budget when having a baby. For more on how to save money when having a baby check out http://www.diapersonadime.com