(Actually, 24 months later and counting if you include the pre-birth period!)
Wow does time sure fly when you’re chasing around a baby! 15 months ago last week this little nugget of ours was born, and now – what seems like decades later – we continue to learn and be amazed of all the things he’s been teaching us :) Like how much babies really DO cost to raise starting from day #1, haha, as well as how to become more patient, more excited, and even more so, *loving*. I’ve never loved something so much in this world as I do him!! He’s my beautiful little angel!!
But I won’t bore you with all the mushy stuff today, even though I want to (you get enough of that on Facebook from your friends ;)), but we shall talk about all those financials from over these past 24 months of keeping track so far…. And boy is it getting harder to do so too.
Here are some of the
highlights numbers over the past 3 months since our last update:
- The total has risen by $4,737.33
- Half of which due to day care costs @ $3,320.00 (the worst…)
- And another $500ish for food
- Then $300 for health insurance premiums (down from $942!!)
- And roughly $200 on new-to-him clothes. As winter is fast approaching…
You mix all that – plus some extras – to our previous 1 year total of $15,252.37, and our new grand total of baby costs from conception to 15 months old is now a whopping $19,989.70. Ouch! They sure don’t lie when they say kids are expensive, my word…
On the plus side, we’re now saving about $200 a month in health insurance premiums for the little guy since we’ve changed plans this summer. And quite honestly we’d be in much deeper trouble without it considering how much we’re now shoveling into day care :( The biggest money sucker of them all! And one we can’t really do with out since we both need to be working full-time on our stuff (me, my online businesses, and the wife on her dissertation).
We used to switch days on watching him full-time during his first year of life, but as anyone knows who has children it leaves you high and dry in both the energy and time department… So we’re sucking it up and reminding ourselves that it’s just a phase until we get back that 2nd income and all is good in the world again :) And we do love that he’s having a blast there with his friends and learning so much too – something that helps keep us more sane.
In fact, there’s been a lot of changes with him outside of money:
- He’s now sleeping 12 hours a night!
- And WALKING!! 3 months late, but he’s certainly making up for it ;)
- He loves cabinets and tupperware more than his toys, haha…
- And he now gives kisses and hugs on command :) Something that’s affected me the most lately, and which I’ve teared up plenty of times :) (Sorry, I know I said no mushiness here but I just can’t help it! He’s so dang beautiful!!!)
On the downside, we’re starting to get worried about his speech and non-desire to eat anything out side of puréed food – something we’re told go hand in hand. He’s only 3 months behind at the moment with this stuff, but we’re considering getting a specialist to take a look/visit with him and see if there’s anything we need to be doing differently or if it’s any cause for concern. He’s been slow at every other milestone really, but we feel like this one could be a more important one as we don’t want it affecting his communication socially down the road. So we’ll see what happens…
Overall though he’s super healthy and we couldn’t feel more proud/blessed to have him in our lives. Even while our wallet’s getting smaller and smaller and he likes to test our patience ;) It wouldn’t be so bad w/out the daycare costs, but it is what it is and we do our best to focus on saving/earning elsewhere to help make up for it all… So wish us luck!
I can’t wait to see what our next update brings!!! #NOT
FYI: You can see the entire breakdown of all osts from day #1 here: Ultimate Baby Costs Tracker
PS: Some of my favorite tools:
|Personal Capital (FREE) -- If you’re looking for a robust financial tracker, Personal Capital is the way to go! They’re like Mint, but on steroids and have much better tools for investment and net worth tracking. // Full review|
|Digit (FREE) -- A super easy (and automated) way to save. Every day Digit analyzes your income and expenses and will push money aside for you any time it sees extra sitting there. I've saved over $4,000 myself using them so far! // Full review|
|Acorns -- Having trouble finding money to invest? Check out Acorns – they round up all your transactions to the nearest $1.00 and drops the difference into an investment portfolio for you. Easy way to start investing! // Full review|