How much will having a baby cost?

Alex Bellamy

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Preparing for a baby often involves crunching numbers to see how a child will affect your financial situation

While any father will tell you that the love they feel for their children is priceless, couples who are thinking about becoming pregnant or who are already expecting a child may want to consider their finances before their little one arrives.

Estimates on the average cost of having a baby range between $8,000 and $10,000.

One-time expenses like baby furniture, car seats, strollers and other necessary baby gear can be expensive. However, dads can offset the cost of these items by registering for them in hopes of receiving them as gifts.

Using hand-me-down items may be helpful as well, although parents are encouraged to make sure all items meet current safety standards.

Expenses like diapers, formula, food, child care, clothing and increases in utility bills should also be taken into account before the baby arrives.

Money savvy dads will be able to find ways to save on everyday items by using coupons, shopping sales and buying in bulk.

Expense calculators, which can be found online, can also help dads-to-be get a better idea of the financial cost of having a baby.

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