Expenses To Watch Out For When You Have A Baby

By | May 5, 2019

Babies are wonderful, there’s no question about it. They’re also expensive! If you’re a first-time-parent, there are a gazillion things, the cost of which you probably never factored into your budget.

Expenses to watch out for when you have a babyWe hope to help you be a little more prepared for the arrival of your little one, with respect to knowing what expenses to expect, at least! We’ll even give you a few tips on how you can save on baby costs.

When you have a baby, you become responsible for feeding, clothing and sheltering a tiny human being. You also have to make sure that your little one is happy and healthy. What are some of the things you’re going to have to spend on?

Psst… want to save on baby expenses? Get loads of savings with a cashback Credit Card. You can check your eligibility for a card here.


Diapers of the disposable kind are every parent’s best friend. However, they tend to work out to quite a bit- the cost is anywhere between Rs. 8 to Rs. 15 per diaper. And, it’s recommended that you change a baby’s diaper every four hours. So, that’s a lot of diapers we’re talking about!

One way to save costs (and the environment too) is to use reusable cloth nappies. Just remember, though, it involves more work as there’s going to be a lot of washing involved!

Additional Reading: How To Grow Money While Growing A Baby

Infant Formula

Doctors and the World Health Organisation recommend that babies be exclusively breast fed for the first six months. But this isn’t always possible. Fortunately, infant formula is available and can help your baby get the nutrition it needs. Plus, if you’re a working woman, you’ll most likely opt to formula feed your baby once you get back to work. Depending on the brand you decide to use, formula can cost between Rs. 150 to about Rs. 500 for a box that’s around 200g.

For those that are able to, pumping and freezing breast milk, for use in the future, is one way to avoid the expense of buying formula.

Additional Reading: Five Smart Money Moves For A Soon-To-Be Parent

Baby Bill

Here’s something that might interest you. In case you didn’t already know, when you give birth, any hospital-related expenses for the baby need to be borne by you. However, the good news is, that if your family has a Health Insurance cover, you just need to add your baby on to your existing insurance once he or she is born and you can get this amount back. So, don’t forget to contact your insurance provider, make the necessary updates and claim your money back.


Vaccinations for your baby will start right from the time you are in the hospital and will go on for several years. This is one of the biggest costs you will have with respect to your child. You can save a little bit here by not opting for the feverless vaccinations. Keep in mind that when you have Health Insurance that has a maternity cover, the baby’s vaccinations are usually covered. Do make it a point to check this when choosing your Health Insurance plan.

Additional Reading: Maternity & Health Insurance: What You Need to Know

Baby Clothes

How many clothes does a little baby need, right? Well, you’d be surprised. Newborns are generally kept warm so, apart from onesies and little baby vests/frocks, you’re also going to be paying for caps, mittens, booties, socks and swaddling clothes.

Keep in mind, though, that babies grow really quickly in the initial months. So, if you aren’t opposed to it, hand-me-downs from friends and family, you can save a ton of money on baby clothes.

If you’d still like to go ahead and shop for your baby, use a lifestyle and shopping Credit Card for additional savings. If you don’t already have a card, you can check if you’re eligible for one – Click here

Additional Reading: Plan Your Personal Finances Before You Plan Your First Child

Bath, Bed And Beyond

Nothing is too good when it comes to your little one and baby product companies know this only too well. There are plenty of products that you absolutely MUST have – body wash, shampoo, powder, wet wipes, massage oil, baby towels, a crib (don’t forget sheets for the crib), a co-sleeping bed, a changing mat, a feeding pillow, a bouncer, a car seat, a pram, a baby carrier, a high chair, books, toys, rattles, pacifiers and milk bottles, the list is endless!

Just keep this in mind, before you go ahead and buy everything you think you need, ask yourself if you really need it. Think about whether you can use alternatives. For example: Is it possible to use a regular pillow instead of a feeding pillow? Does your baby really need a pacifier? Not all babies do. A cold carrot stick has been known to be a good substitute for a teether and so on. So, slow down and think about it. Don’t make any hasty purchases.

Investing in people

Taking care of your baby on your own can be fulfilling but tiring at the same time. All said and done, most new parents need all the help they can get. If you have a good support system in place – in the form of family and friends, then consider yourself lucky. However, if you aren’t so lucky, getting someone to help you look after the baby and with the household chores and cooking might be something worth considering. That is, given your financial situation of course.

If you do expect to hire help, it’s a good idea to start saving up for this well in advance. Opening several Fixed Deposits or a Recurring Deposit is one way to save and get interest on your money.

Baby’s 1st birthday!

Your baby turning one is generally a big deal, for the parents at least! Families usually go all out with a big cake, grand decorations, return gifts, the works. One way to cut down on party expenses is to take the DIY route – bake your own cake, make your own snacks and food and get creative and make the decorations yourself. However, if you don’t feel up to the task, you can still save by making use of offers and discounts on your Credit Card. At minimum, you’ll get rewards and cashback which will help soften the blow. If you haven’t managed to save up for your little one’s big birthday bash and you feel you absolutely must have one – baby’s never going to turn one again, after all, you could consider taking a Personal Loan to foot the expenses. There’s no collateral required and no questions asked about what the loan will be used for.

Additional Reading: BB Babies Talk About Money

Now, if you think you’re finally done with the baby expenses, guess what? Here are some more to think about. Have you taken care of your child’s future financially? A Life Insurance plan will make sure that your child is financially secure even if you’re not around. And if you’re thinking about leaving an asset like a house or a flat for your little one, there’s no time like the present to get started on that. BankBazaar can help you find the best Home Loan offer! Just click on the link below.

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