Part 2: Estimating Expenses

1. Part 2: Estimating Expenses Budgeting for Baby

2. Clothing & Equipment Needs • Basic supplies include: • Clothing • Bedding • Feeding equipment • Bathing supplies • Travel equipment • $$$$

3. Baby’s Room • A ______________ room is best • During the first 6th months: • Babies sleep ___________ hrs/day • If the baby doesn’t have separate room, he/she needs to be in a ________________

4. Basic Supplies: Diaper Changing • Parents need a place where baby is changed & dressed • Special _______________ or any surface passed with blankets • Top of a ________________ can be used • Needs to be correct height & size for baby • __________leave a baby __________ on a changing table

5. Secondhand Equipment • Supplies do not have to be new • Reduce spending significantly • Borrowing or buying __________ • Babies outgrow items quickly so many supplies are fairly new • Should be __________ __________ • Needed to be checked for __________ __________ __________ • Cribs, playpens, carseats

6. Estimating Expenses • Costs do not end at __________ • Begin with first __________ • Many doctors will charge one fee that covers prenatal care, delivery, and the __________ period • Postnatal: __________

7. Costs • Hospitalization fee is a major expense • Depends on: • Type of __________ • Medical needs • _______________ • Extra charges for: • Lab tests • __________ • __________

8. Other Expenses • May need larger __________ __________ • Raising a child until _____________ • Food, clothing, education, medical care • Parents need to have a clear understanding of total cost before planning to have a baby

9. Reducing Expenses • Considering ways to lower costs • __________ • Checking __________

10. Health Insurance • Helps parents meet the major expenses • Review hospital & __________ __________ to see what insurance covers • Need to figure out if they pay the bills directly or parents get __________

11. Without Insurance? • Some large hospitals have: • Free or • __________ __________ • Social workers can help budgeting problems & __________ __________

12. Careful Shopping • 9 months gives you awhile to shop around • Always __________ __________ and • Compare products • Example: Disposable diapers vs reusable diapers • Both have pros & cons

13. Making a Budget • Budget= __________ __________ • __________ expense: costs of items that cannot be changed, such as mortgage, taxes, insurance • __________ expense: costs for items over which people have some control • Can cut back on this type

14. Preparation • Parents who set aside some savings • Easier to meet the early, larger expenses of having a baby • Have a regular __________ _______in the new budget • Even a few $ each month can build up