Starting a budget
Different people will look at you with horror when you mention that you are going to buy a forward facing group 1 car seat. Harry Enfield springs to mind “you don’t wanna do it like that, what you want is….”
On the web you can find lots of “baby essentials” lists, providing guidance on what’s required. The trouble is, not many go as far as putting a rough budget figure next to each item.
So, after numerous and quite tense “advisory” conversations, it was time to make a list and see roughly how the costs stacked up.
The "essentials" list
The “essentials” list was as follows, with a typical budget for each item:
| Car seat
| High chair
| Pram / buggy
| Baby monitor
| Bottles / steriliser
| Changing mat
| Essential clothes / cloths
| Stock of nappies
| Cosmetics / lotions
| Bedding / mattress / sheets
"What do you really need and how much does it cost?"
Now of course there are ways to save the pennies on the above. Some items can be purchased second-hand, and cash-back sites can ease the pain a little, if buying online. Even considering help and presents from relatives, you are probably looking at an initial outlay of around £800.
This list made me realise that the various articles on the web offering baby budgeting advice are quite right. Unless you have £800 saved, or kicking about under a mattress, the essential purchases alone can force a much-needed review of your finances.
Now time for some bargain hunting…
Written by Simon Lloyd
Note: Whilst we take care to ensure Hub content is accurate at the time of publication, individual circumstances can differ so please don’t rely on it when making financial decisions. OneFamily do not provide advice so it may be worth speaking to an independent financial adviser about your own circumstances.