It’s been a 6-month break since I last published a baby expense report, and that’s entirely my fault. To everyone who was following along—sorry! Laziness and switching money tracking systems got the better of me.
But in good faith, I’ve decided to get back on track with monthly updates, and to catch up on the last 6 months of spending in this very post. If you need a reminder of where we left of, check out the May 7th report for Month 4.
What’s Happened Since May?
Not a whole lot, actually, at least financially speaking. We’ve settled into a monetary groove with our baby expenses, optimizing where we could, cutting back where we could, and spending a little more where we thought prudent.
My wife continues to take advantage of a work-at-home situation for a family company, and as a result, daycare expenses are nowhere to be found. With this alone, we estimate we’ve easily saved thousands of dollars by this point.
Breaking Down Our Expenses
Rather than detailing our month-by-month spending, I thought I’d take a look at general categories in today’s catch-up post and let you know how we’ve done on an average basis. We’ll return to a little more detail in next month’s post.
Here is how things have shaken out:
- Health Care: Our HSA-enabled insurance plan continues to cover 100% of all well-child visits and immunizations. Our monthly cost for the insurance premiums: $95.00.
- Diapers & Wipes: As we’ve talked about regularly, we’ve stuck exclusively to Costco for our diapers and Target for our wipes, and we buy the biggest packages available of each. Average monthly cost over the last six months: $40.00.
- Feeding Supplies: As Evan slowly transitioned into solid food over the last months, feeding “supplies” turned into actual food supplies for making baby food, and then into simply an extension of our grocery spending. We now use this category for tracking things like kid-friendly bowls, sippy cups, bibs, and other eating-related expenses. Average monthly expenses: $10.00.
- Toys: We’ve found ourselves buying more and more toys, since most of what we had was designed for newborns. Average monthly cost thus far: $15.00.
- Clothes: We’ve been lucky to limit clothing expenses with consistent gifts from friends and family, only having to supplement where needed. We’re also diligent about doing regular laundry so we can re-cycle clothes quickly. Average expenses: $15.00 per month.
- Other Expenses: This includes everything from odds and ends to things bought on road trips, and more. Average monthly cost: $25.00.
Over the last 6 months, our average monthly spending totals out to about $200 each month for our baby expenses.
Above and beyond this, of course, we continue to contribute to Evan’s college fund every month, but we’ve excluded this since Month 4 since it varies based on what you want to accomplish and skews our numbers.
That catches us up to December 1st! Stay tuned next month for the return to regularly scheduled updates. Also, by popular demand, an e-Book on kids & finances is in the works! Details are coming soon.
Photo by M.ADA