expenditures for baby's first year?

[american_mama]

Hi, a friend is having her first baby soon and she and her husband track their expenses really well. They are wondering what to expect in terms of new expenses for their baby's first year - clothing, nursery, food, medical, toys, equipment, diapers, child care, etc. I am also a good financial tracker, so I ran some reports on Quicken to see what I spent my child's first year, and came up with about $3,000. That's including hospital charges, long term breastfeeding and therefore low formula costs, disposable diapers, and no child care.

What would you estimate you spent? Please say if that includes regular formula or significant child care. Were there any categories you were really low or high in, like splurged on nursery or never bought any clothing for baby? I and my friend thank you!

[Momof3Labs]

The Fields have a pretty good breakdown in their book, if I remember correctly. Have you looked at that? I, personally, have no idea how much we spent, but know that it was worth every single penny and then some!!!

And, like most things, there are many ways that you can do this to spend as much or as little as you want/have.

[american_mama]

I don't have access to the Baby Bargains book here, so can someone post the amount they cite? Thanks.

[C99]

I did a report on Quicken as well and came up with around $4K. This doesn't include childcare, most pieces of furniture which were bought before the baby came, education savings, or food. Here's the approximate breakdown of what we spent in 2003, which was approximately the first year of life.

$500 medical
$300 furniture/decor
$1000 miscellaneous
$900 diapers
$670 equipment/gear
$550 photography

[american_mama]

Caroline - You are a budgeteer after my own heart! Thanks so much. My biggest expenses in order were nursery, equipment, medical, miscellaneous, diapers and wipes, and food. Medical was only high because of a $200 co-pay for the birth itself, which, by the way, was really $400 because both mom and baby have their own copays.

Does anyone know what the Field's estimate in their book? I live overseas and don't have access to the book to look it up.