It’s always a good idea to take a moment to pause and take stock of your finances a couple times a year. Especially if you’ve got any big changes to your life planned for the coming year, and one of the biggest changes is having a baby.
The costs of expecting a baby, whether it’s your first or last, should not be underestimated.
Here are a few things you should keep in mind when examining your finances for the year ahead to help plan for your little one.
The Basics Before the Birth
Kids are expensive, but funnily enough, they start costing money almost from the moment they are conceived! When you’re expecting a child your world is definitely turned upside down and your financial resources are tested from the very beginning.
The cost of simply being pregnant includes things like:
- Gynaecologist’s visits
- Scans and ultrasounds
- Tests for the mother and baby
- Prenatal classes and books
- Pregnancy-friendly clothing and aids like pillows
- Medication
You’ll walk a journey with your gynaecologist from the very beginning, first confirming the pregnancy, and then continuing throughout the nine months.
This “preventative care” includes scans, ultrasounds, tests and checkups to ensure both mother and baby are doing well.
Gynaecologist’s visits can start from over R600 and the price simply goes up from there.
The Birth
One of life’s most magical moments, but also, unfortunately, a very expensive one.
Like all things in life, choice plays a part here. Some people want to try a home birth where they have a midwife present to assist with it.
Others, a booked C-section with an Obstetrician in a hospital. Whichever route you pick, the cost of simply giving birth in a hospital can range from around R25 000 for a natural birth all the way up to R50 000 (and more!) for a C-section.
The First Year
Once you welcome your little one into the world, you really need to prepare for the unexpected.
A few things you’ll likely have purchased for the baby include:
- A pram or stroller
- Car seat
- Clothing
- Toys
- A crib or bed of some sort
- A breast pump
- Bottles and other feeding equipment
- Nappies. Lots and lots of nappies
The list goes on. In fact, having enough nappies a month can be over R300 on its own.
All in all, having a child is an expensive endeavour, but it can become exponentially more expensive if you’re not fully prepared.
One of the major things you should consider before even becoming pregnant is ensuring that you have some form of medical insurance with maternity benefits.
Get Maternity Cover with GetSavvi Health
This kind of financial protection will take a portion of the financial stress off your shoulders and allow you to enjoy the start of your new life.
Find out more about GetSavvi Health’s Maternity Benefits.
References:
https://www.fedhealth.co.za/the-economics-of-having-a-baby/
https://www.oldmutual.co.za/articles/what-having-a-baby-really-costs/
https://www.moneyunder30.com/cost-of-having-a-baby
https://www.huggies.co.za/articles/pregnancy/parenting/cost-of-raising-a-child
https://businesstech.co.za/news/wealth/347362/the-economics-of-having-a-baby-in-south-africa-how-much-it-costs/