Calling on the wisdom of this group!
My partner and I are trying to be super proactive about the financial side of things, and I’ll admit, seeing all the potential costs is making me a little anxious! To get a handle on it, I’ve done what I always do when I’m overwhelmed with data: I made a spreadsheet. It’s pretty detailed, breaking down one-time costs (crib, car seat, stroller, etc.) versus recurring monthly expenses (diapers, wipes, potential formula costs).
I’ve tried to account for everything I can think of for the first year: adding the baby to our insurance for 2025 and meeting a new family deductible, initial pediatrician visit co-pays, and even setting up a small contribution for a 529 plan. But my biggest fear is the unknown ‘gotcha’ expenses.
So, my question for all of you who have been through the first year is: what were the unexpected costs that blindsided you? The things that don’t show up on the typical baby budget blog posts? I want to add a ‘Miscellaneous/Unexpected’ category, but I’d love to have a better idea of what might actually go in there. Any advice would be so appreciated!
Happy to share a blank template of my budget spreadsheet if anyone else finds that sort of thing helpful!