Quote:
Originally Posted by SmootSmack
@Cro4Jets I don't understand the question
Who will take care of the baby is definitely a big concern. Like I said, we don't have family nearby. We're a two-income household and the reality is while I make a decent salary, she's the true breadwinner.
I know it's a bit of a difficult question to answer, but for the first year or two what are the average monthly expenses for a baby?
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Sooo many variables.
If you're both working, daycare is obviously the HUGE expense. That varies by location and you need to check it out and decide if it is worth working and paying for childcare. (For example - Given her experience, my wife could get a job that would essentially pay for day care, but not much more. Rather than work to pay for someone else to raise our kids, she is a stay at home mom and we forego the minimal extra income she would have provided).
The other huge issue is health care. Lots of shots, emergency room visits, check ups, etc. If you have a rich policy, you will be fine. Otherwise, a chronically sick kid can be expensive. Even if not chronically sick (some kids just are - my niece and nephew are constantly running into niggling health issues), there are a lot of standard health care expenses in the first couple years.
Check your coverages, see who has the best - balance this into your daycare/stay home parent analysis. For example, consider the following hypothetical: Your wife makes great salary but has crappy benefits, you have crappy salary but great health benefits. Will her great salary make up for the loss of your great benefits?
Other than that, clothes, food and diapers are your main expenses. Again, I am guessing at 100-200/month. However, it's the day care (or loss of second income)/health care issues that are the main expenses for most.