Congratulations to all parents (and parents to be!) Having a child is indeed a blessing & a time of great joy! Wise parents will also have a plan & make necessary changes including planning financially, wisely with the increasing costs of raising children in today’s world. What expenses should you expect with your bundle of joy?
Having a baby does required financial commitment including budget & expenses considerations. Here are guidelines as a reference to expected one-time & regular expenses.
One Time Expenses Estimate in Malaysia
- Baby Products: 2,500
- Delivery: 5,000
- Confinement Lady/Products: 3,000
- Vaccinations: 2,000 (private hospital)
- Misc: 1,000
- Total: 13,500
Regular Monthly Costs Estimate in Malaysia
- Babysitter: 800 (Exclude for month(s) when confinement lady is around)
- Milk Powder: 350 (80 x 52 weeks / 12mths)
- Diapers: 100
- Insurance: 100 – 250 (is this necessary?)
- Misc: 100
- Monthly Total: 1,450 – 1,600
- Exclude/reduce confinement lady & babysitter costs if parents assisting.
- Reduce expenses accordingly for 2nd hand items and/or gifts.