Link to join StockHub free investing discord server: –~–
Good day subscribers thank you so much for joining me today i am jeremy this is a financial education channel in today we’re talking about baby expenses we’re talking about ten baby expenses that will eat up your money now i’m going to take you guys through ten different expenses and we’re basically going to start at right after the baby’s born all the way through
Till they reach about two years old and that way you can go through the whole process of kind of the first two years on what you’re looking at for expenses now expenses i exclude it from this list or anything medical related because everybody’s got different insurances certain things might be covered under warn one insurance certain things might not be covered on
Another and those kinds of things so that’s just a very confusing subject so i didn’t want to i didn’t want to get into health care or anything related to insurance and those kinds of things guys so we’re sticking to basically the main expenses that pretty much everybody’s gonna go through guys and i was kind of ignorant on the subject for pretty much my whole life
Until i had a kid and then i kind of got educated on okay we need this we need that we need this and i hope to help you guys out and understanding these things if you’re about to have a kid or just in general because someday you probably will have a kid and this will kind of educate you on the subject guys so let’s go ahead and get into this leave a thumbs up or
A comment if you enjoyed this video today guys so number one you need your baby starter pack baby starter pack means you need a crib you need a car seat because if you’re gonna go anywhere in a car you need a car seat you need a stroller because if you’re gonna walk around with your baby anywhere unless you want to carry your baby your baby can’t do anything your
Baby can’t walk or crawl or anything so if you want to go in a mall with your baby or the food store or whatever you really need a stroller to push your baby around the babies usually when they’re first born tell three four or five six months down the road they can’t even sit up so it’s not like if you go to the grocery store with your baby you can like plop them
In the in the little seat there because they’re not gonna be all stay up they’re gonna fall over and whatnot guys so you’re gonna need a stroller definitely you’re gonna need a crib unless you’re gonna have them sleep in your bed and then a lot of people do not agree with that because the sids and whatnot and you can suffocate your baby so a lot of people believe
In having a crib so you’re probably gonna have a crib that’s an expense now cribs can run anywhere about a hundred bugs all the way up to you know hundreds and hundreds if not thousands of dollars so once again this is a something that it depends on your budget how much you actually want to spend i always i always say don’t spend that much on a crib because your
Baby’s not gonna be in that crib for all that long guys it’s gonna be about a year nine months to a year so it’s not a huge amount of time that baby’s gonna actually be in that crib so don’t don’t go out and spend a ton of money unless you have that much money that you can just spend crazy amounts of money on things a good car seats gonna run you around a hundred
Bucks some can run you up upwards of 200 bucks i suggest looking on amazon and seeing reviews from other parents that have put in reviews on these car seats and whatnot so you can kind of get an idea of okay that might be a good car seat versus this one and those kinds of things guys so you don’t get ripped off because there’s a lot of car seats that are like 200
300 bucks that you really are not necessary guys they really are not unless you’re planning on taking tons of car trips or those kinds of things guys so that’s number one the baby starter pack pretty much every parent needs that out there that’s the number one expense you’re going to come up with probably before the baby is even born you’re gonna get those things
Number two you’re gonna need all the necessities you need diapers you need wipes you need formula unless you’re gonna breastfeed sometimes even if you breastfeed your might not produce enough so you’re gonna actually need formula just to compensate to get your baby what it needs for nutrients and whatnot so those are all necessities you know diapers are gonna run
You about 25 to 30 bucks for a big box you’re gonna go through one of those and about two to three weeks so every two to three weeks you’re gonna spend in 25 bucks on new diapers now formula per cam is gonna run you about 30 bucks as well and that’s gonna run through in about two weeks as well so those two alone are gonna be very expensive wipes you can get a big
Box at costco or sam’s club or something that’s going to last year four to three months and those generally run you about 25 30 bucks so wipes are definitely a smaller expense diapers and formula very big expenses guys very big expenses that will eat up a ton of money in the first year because you can imagine 25 bucks here for diapers and in the last you three weeks
25 bucks here and formula and only lasts you two weeks then adds up very very quickly guys those are huge expenses those necessities they’re number three then you need like specific necessities like baby soap and baby lotion and baby sunscreen and baby medicine all these type of specific things that you might not know about if you’ve never had a kid before cuz you
Might not know oh their skin sensitive they need specially formulated product so that you know that don’t have any fragrances in them if any fragrances at all because their skins very sensitive so you need all these type of very specific products you know they can’t take the same kind of medicine we take you know they can’t take night queller or you know or tylenol
Cold and flu like we can so they need specific medicines that they can actually be helped with if they have a cold or something like that guys you need to buy a lot of very specific things that once again these things are not super expensive you know you can get a big huge bottle of you know baby soap or something like that for four or five bucks but there’s small
Expenses that slowly eat away guys slowly eat away number four clothes your baby’s gotta have clothes and you need a lot of tops specifically because generally generally when you have a baby they spit up a lot you know whether it’s formula breastfed whatever baby spit-up so they can you know you might put that shirt on that baby and then two hours later that baby
Spits up honey and then you got to change it put in another shirt and then another shirt unless you have it in a bit ball time or something like that so clothing is definitely gonna be something that’s gonna eat away at your guys money because you’re gonna need a lot of it you’re gonna need a lot of tops and whatnot because you’re gonna be changing them out a lot
Cuz babies they make a mess and a stinky mess and you don’t want to keep your baby in that outfit all day long guys next one up number five here your baby’s gonna start to grow up now you know you’re kind of in that six months to 12 months stage where your baby’s all sudden crawling around and some of those kinds of things you’re gonna need some of those the baby
Proofing things you know like things for outlets you know so the baby can’t stick its fingers in the outlets or try to stick things in outlets you’re gonna need maybe to close off rooms and whatnot maybe your front door you’re going to need to make accessories like i have accessories that we can lock it at the top because you know child he knows how to open the door
Actually and unlock it and everything he knew that since he was like 1 years old and he could stand up so we had to get a top lock that he can’t get to so we could actually lock the door several other doors throughout the house we had to do that you know things like kitchen in the kitchen area you need to buy locks so you’re jurors can lock so your baby can’t open
Em so then get two knives and things like that so there’s a lot of expenses there as far as baby proofing your home and then a height chair also falls in this category because your baby’s gonna start to eat with you your baby is now gonna be able to sit up and start eating regular food and whatnot so you’re gonna want to get a height chair for them so then they can
Go ahead and and sit at the dining room table with you guys and actually enjoy the meal with you and actually start eating regular food at this point so those are some expenses now we’re starting to get to a more grown-up stage next one up number six toys you’re gonna end up buying your baby a lot of toys or have family members buying you toys and those kinds of
Things because now your baby’s got to start being interested and playing with stuff and you know buddy’s got stuff and all those kinds of things guys so toys will start to be an expense now you can go crazy and get your baby tons of stuff that honestly they’re probably not gonna play with hardly ever because they’re gonna pick a couple few of their favorite things
And actually play with those than most or you just get a few things like i said there and then make it work with you know five toys or whatever instead of 50 toys so toys is definitely an expense so that needs to be some kind of expense but at the same time you can minimize that expense because you’re gonna realize your baby’s not gonna play with a million toys
My son’s got so many toys it’s ridiculous and it’s such a waste of money because hardly any of them he actually plays with he plays with those few 5 or 10 favourite things and that’s about it the other 50 hundred things he never touches really guys next one not seven now i already had this one so list but now we got more clothes in shoes basically you’re going to
Realize your baby grows very very fast by the way interesting fun fact on my son he’s in the 99.9% percentile as far as children’s growth he’s like bigger than big like on the chart of growth charts he’s not even on it he’s like off the charts that’s ridiculous that kids a freaking giant so we’re always buying them new clothes and if you have a boy sometimes even
A girl you’re gonna have to buy clothes constantly because they’re gonna grow so fast guys so you want to always buy a few sizes ahead of what they’re actually wearing so then they kind of fit loose at first pump watch how fast they’re gonna end up growing into that guy’s and then they’re gonna start walking and things like then you’re gonna want to take them for
Walks you’re going to need to buy shoes at this point once again by size or two sizes bigger than they actually need that moment because they’re gonna outgrow it so fast guys i mean outfits my son was wearing six months ago that might have been loose arm now they barely fit them and that’s the same for a lot of parents out there guys so make sure you buy a size
Is a little bigger than what your your child actually needs because otherwise you’re just gonna be spending ridiculous amounts of money on clothing constantly guys number eight now you’re gonna need to start getting into the stage of potty training you know you’re gonna start getting around that to two and a half-year-old stage and you want to kind of get your
Child potty trained now so you’re gonna need to buy a little toilet seats maybe one that goes on the toilet seat because a child cannot sit on a regular adult toilet seat if you guys don’t know that or like i said my son’s in the 99.9% percentile as far as growth goes he still can’t sit on a regular toilet seat so you need to buy a separate type toilet seat so
He can actually sit on oh she can actually sit on it or buy a separate little toilet that goes beside the toilet it’s like a little kids toilet and so they can do their business for potty training that’s another expense out there guys you will have to incur if you want you to son or daughter to be potty trained number nine oh toddler bed this we got my someone
Right around the time you turn two years old a toddler bed is basically you know get them out of the crib they you know they don’t want to be in those bars or that netting anymore they want to be on their own independent you can put them on a bed around two years old that way they can get some independence out there guys you know they’re not they’re not changed in
All night they’re they’re kind of growing up sort of these sort of speak so the toddler bed can run you once again ours was about a hundred bucks but i’ve seen so many that are three four five hundred dollars so many in that bracket so a lot of people end up spending that much money but you get a nice one like we have ninja turtles one for like 100 bucks guys so
Don’t don’t overspend on that toddler bed because they’re gonna occur that toddler head – i mean our son probably in six months maybe nine months from now he might even outgrow it he might be you know at the headboard all the way to the footboard in no time so once again try to buy a decent sized one and don’t spend a lot of money on it guys because they pull our
Girl very quickly last one number 10 you’re gonna want to start buying them learning type stuff so equipment you know toys that they can learn with maybe games on ipads that they can learn with you know there’s a lot of interactive stuff that people are doing now and on phones and ipads and all those kind of type of devices where your child can actually learn and
Kind of learn some of these things faster than the baby back in the day with you know flashcards and some of those kinds of things but even like flashcards that’s an expense all those type of learning things because you want to start teaching your baby how to talk your baby how to you know no colors no shapes no numbers those kinds of things so all that learning
Stuff around age 2 you’re gonna want to start really hammering that stuff so they can kind of start getting ready for kindergarten you know the faster you get ready the faster they’ll get ready and then that way they can you know know some stuff so learning stuff is gonna be a big expense they’re around two years old i hope this video helped you guys tremendously
If you’re having a baby congratulations if you are or if you’re just curious on what are some of these expenses you’re looking at there’s a lot of expenses guys kids are very expensive i mean we keep it very minimalistic and we still we spend us so much money it’s just a very expensive process to have a kid and this is the once again this list didn’t even go into
Health care we didn’t even touch that subject guys that’s all whole other subject we had great insurance and it was still ten thousand plus dollars – for medical related things guys so that’s another huge expense maybe on another video sometime i will cover all that with you guys i hope you enjoyed this today if you just came across a channel for the first time
You may want to subscribe i talk personal finance just like we did today this is personal finance related i talk entrepreneurship i’m an entrepreneur and i give tips for being a business owner and starting a business and we also talk the stock market so much on this channel and how to be a successful investor making your money into money thank you for watching guys and have a great day
Transcribed from video
10 Baby Expenses that eat away Money! Baby Expenses! By Financial Education
