NYC moms - I’m pregnant with my first and I’ll be apartment hunting soon. How would you approach setting the right budget for rent given the childcare and other baby costs coming my way?

likehelpful
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You will always feel poor

likefunny

Price out what a daycare/nanny situation will cost you monthly > add that to your monthly budget.

If you are dead set on breastfeeding > add formula costs to the monthly amount (just in case you realize BFing is not your thing — for many it is not and they didn’t know it). One of our boys had an allergic reaction to all formula except for the $100 brand - I’m not kidding.

Then take that monthly amount and add diapers to it. Buy in bulk and look for coupons/discount that relate to your location. Some save at Target with the App and others save auto-ordering bulk through Amazon.

Then, if you are really wanting by-the-penny, add baby wipes to the monthly budget.

Take that magical number and plan on paying it for 4-ish years depending on full-day pre-school plans.

I was fortunate and received a full year of clothes from people of all different sizes, so that cost didn’t hit until age 1.5 and the higher cost items were winter coats and shoes, but if you are thrift-store-friendly you can find decent lightly used items.

I had great healthcare from my work, but know that you will be going back and forth often for the new little one, so if your deductible is high, prepare to pay it in full for the first two years — so add cushion for that if you need.

Good luck!

likesmart

Rent is supposed to be no more than a third of your take home pay, so we added our monthly daycare cost plus rent and decided to stick with the one third rule. For us, utilities are outside the 1/3 number— we have electric/cooking gas, Internet, and various Netflix/Hulu subscriptions too. I also budgeted for a cleaning person every other week.

like

Cleaning person is clutch

Have you determined the kid of child care you want?
A daycare center will cost more than a family daycare (the kind in someone’s home).
A nanny will cost more than a nanny share or an au pair.

There are additional costs related to daycare outside of the monthly fee that sneak up.

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I’m not sure which way we’ll go. I think I’d like to do a day care center if I can manage to have the baby start at 5 months...from what I can gather that costs around $2k a month

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