Technically, I am a licensed health insurance agent, but I don’t sell it. I consider myself well versed in health insurance. *In the video, I also add some life updates as our 2nd child arrived since the initial writing of this baby budget*Īs a reminder, this was our experience, and it is not to say our choices are the same choices you will make, but we do believe we followed a rather traditional path. Prefer video over the blog? We’ve got you covered! Watch our YouTube video as we dissect this blog post for you. The sheet is form fillable, so please take a copy and make it your own. In this spreadsheet, I have each topic listed with our dollar amount. Today that changes.Īt the very end of this post, I have included an excel spreadsheet. I am often asked, “what does it cost,” and I always had a good answer but I didn’t have “our” answer listed out. The inspiration for this post is from all our amazing clients who are preparing to have their first child or recently have. Well today, I share the ultimate first year baby budget! That’s right, I am going to share every major cost that we encountered in the first year of our son’s life. I knew the budget details, the costs, the 529 plans, adding guardians, etc., but I didn’t have the real life experience. Yes, of course, I knew the textbook answers, but we all know real life is the ultimate learning experience. Before we bought our first home, I recall being at a disadvantage when advising on the topic. One of my favorite things about working with our Gen X & Gen Y physicians is that we are going through or have gone through recently similar life events. Ryker was not the world’s best sleeper until about eight months, so my wife and I had an ongoing joke that anything said between midnight and 4 am was not allowed to be brought up ever again. However, one small smile, giggle, or milestone makes you forget the tough (sleepless) nights. We built the ultimate first year baby budget by tracking all our major expenses in Ryker’s first year with us (Life update he is almost 5 now!).Īs any first-time parent will tell you, YES, there are undoubtedly tough times.
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