This Is How Much You Need To Put Aside BEFORE You Have A Baby

Yikes. Preparing for baby is a tough job. There is the nursery to decorate, the buggy to buy and that is before you even set foot in a hospital. Physically, it is also a slog. You are trying to prepare life for a new life all while dry retching and dragging around your giant bump. But can you really put a price on a baby? According to a leading investment adviser, yes you can. In his blog, BareFootInvestor, Scott Pape suggests putting aside around €7,000 at the very least.

“Think of having a baby as like starting a business. There are significant upfront costs that can be amortised over subsequent product releases, but these upfront costs are really going to hit you,”

The Australian advisor says that on a first child many parents suffer 'mini-emperor syndrome' and go all out for their little prince or princess. It is obviously different for every family and every different country, but we can all lower many of our costs by simply buying or borrowing second-hand prams or furniture.

"The first 12 months of being a parent are stressful. You have no idea what you’re doing. There’s very little sleep...You basically surrender yourself and serve the baby. And so the best gift you can give yourself in that first year is not having to fight or worry about money."

Did you go a little financially ga-ga when you got pregnant? We would love to hear your experience, Mama!