Right? I’m pretty sure that it will, on about a thousand levels.
Of course, we’ll try to do things the frugal way, but I honestly don’t know what Baby will do to our budget. I’m going to keep track of everything we spend that’s pregnancy-related or baby-related, cuz hey, I’m a frugal blogger and I’ll get a kick out of that!
Here’s what I know for sure:
Our HMO will cover most of our expenses. We’ll have a $30 co-pay for our first doc visit, and the co-pay for labor & delivery will be around $200 or $250. I need to check on what they’ll cover in the event I’ll need a C-section, and how many days in the hospital they cover. We’ll be able to pay those with our flexible spending account, so it shouldn’t impact our regular budget.
Neat side story: Around February or so, I realized that we were putting too much money into our FSA, but it was too late to change it. We would have about $300 left over at the end of the year, by my calculations, assuming we had regular dental exams and eye check-ups. Well…that’s conveniniently the amount of money we’ll need to cover prenatal care and my vitamins! God looks out for us!
If we’re still living in this apartment when the baby is born (I really hope we’re living in another city by then!), then I don’t think we’ll be able to do cloth diapers, like I wanted to try. We don’t have a washer or dryer in our apartment. I do laundry in the basement at $1.25/wash and $1.25 a dry (usually, I hang things to dry on racks in my apt.). From what I’ve seen, some moms put cloth diapers through a rinse cycle then a wash cycle. I honestly don’t know if I’d be able to keep up with the diapers or not. We’ll just have to see.
On the other hand, if we’re living in a place with a washer/dryer, I’ll definitely give cloth diapers a shot. If they work for us, great! And if not, that’s what extra care bucks are for. Heh.
I do plan to nurse for at least the first six months, but probably longer. I realize that things happen, and it can’t always be achieved. We’ll just have to see how it goes, and if we end up needing to buy formula, well, then that’s just what we’ll have to do. Baby’s gotta eat somehow! :)
The only reason that I’m getting back into “drugstoring” is so I can have a huge stash of toiletries by the time Baby gets here. I already have a decent stash, and between now and the end of the year, it should be enough to last us quite awhile. Plus, I’ll be able to use my extra care bucks and Walgreens gift card to buy baby things, if I need to.
Our financial “plan”
It’s not much of a plan, really. Just cut our expenses even further, if we can, and continue to save like maniacs!
You might recall that I recently shared a goal of maxing out our retirement accounts in 2009. Um. Well…we’ll just have to see how that goes. I’m hoping that we can still do it, or at least come really close. We won’t put much extra into those accounts until the baby is a few months old (remember, he or she is due around the end of December or early January). After we can take an assessment of our situation, we’ll be able to decide if we should put our “extra” money into Roth IRAs and my husband’s 401k, or if the money would serve us better elsewhere.
I think that when parents save for their retirement, they’re doing their kids a huge favor. First, they’ll likely have the money to retire comfortably, and not be a burden on their children. Second, they’ll be able to teach their children the importance of saving for retirement, and how to go about it. And finally, we’ll actually be able to retire! It’ll be great to be retired and able to visit our children and grandchildren whenever they’ll have us, rather than not having enough money to do so.