How Much Will You Spend in Baby’s First Year? Use Our Calculator to Find Out

Budgeting for baby just got easier with this handy tool.
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By Celia Shatzman, Contributing Writer
Updated July 6, 2023
baby budget calculator

There’s so much planning to do when baby is on the way. There are names to pick out, a room to decorate and, of course, a budget to make. But shelling out for a new addition goes beyond stocking the nursery. Plenty of other ongoing costs can add up quickly, like childcare, health insurance and starting a college savings plan. That’s why we created this handy costs calculator to help you estimate your added expenses for baby’s first year. Keep in mind, a lot will vary depending on where you live, but filling in the categories below will give you a good place to start.

Having a baby can be expensive! And if you’ll be using formula, that’s one extra cost. Thankfully, ByHeart Infant Formula makes choosing the best for baby easy, with clinically proven benefits, clean ingredients, and manufacturing in the US. Bonus: It’s less expensive than some of the other premium brands. Learn more at


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Investopedia, Budgeting for a New Baby: Ongoing and One-Time Expenses, May 2023

How Much Is It, How Much Does Baby Food Cost

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New York Life, How Much Does It Cost in the First Year?

US Department of Agriculture, Expenditures on Children by Families, March 2017

BigFuture, College Costs, FAQ

Finra, Education Savings Calculator

Health Cost Institute, Shedding Light on Health Care Spending in the US, 2020

PolicyGenius, Life Insurance Rates, December 2023

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