Hoping to tap into the collective knowledge of this community on a very practical matter.
My partner and I are deep in the process of updating our family budget now that our daughter Verity (5 months) has joined our son Hamish (20 months). We’re both planners and have a fairly comprehensive spreadsheet that we thought was robust, but having two so close together feels like a different financial ballgame than just having one.
We’ve accounted for the obvious things: the eventual cost of two children in childcare here in Melbourne (which is eye-watering), the constant supply of nappies and wipes, and factoring in some new gear for Verity. What I’m looking for are the hidden costs or the expenses that snuck up on you when you went from one child to two. Did your grocery or utility bills jump more than you anticipated? Are there any specific ‘two-kid’ expenses that people often forget to factor in?
I’m also curious about what systems or strategies have worked well for others in a similar position. We’re trying to be very intentional about our spending so we can minimise financial stress and still save for bigger things, like being able to afford quality family time and our weekend nature outings. Any advice or shared experiences would be incredibly helpful!