The Cost Of Parenthood & Tips On Saving Money
Becoming a parent is an incredibly rewarding and exciting time, however something that is not often discussed is the financial ‘burden’ that accompanies. We are going to break down the costs of raising a child in Australia for the first couple of years, and offer some easy-to-execute ways to save some money. With the far reaching impact of cost of living affecting many Australians, we hope you find this helpful in saving some money.
It is fair to say that the baby/child market is overwhelming, with an abundance of products constantly targeting new parents. It can be challenging to navigate this, and determine what is needed when planning or welcoming a baby into the world.
A recent report from IBISWorld, stated that the average cost of having a baby in Australia is $7,918 per year, for the first four years of a child’s life. They have broken down the costs of this whopping number below for reference.
| Products/service | Average Cost Per Year | Percentage Of Overall Cost |
| Nappies | $606 | 8% |
| Clothing | $649 | 8% |
| Food/nutrition | $1227 | 15% |
| Furniture | $441 | 6% |
| Toys | $252 | 3% |
| Footwear | $122 | 2% |
| Childcare | $4340 | 55% |
| Other merchandise | $280 | 4% |
| Total | $7918 | 100% |
Read more about this breakdown here.
Our tips on where to save money:
Second hand items -
Utilising friends/family, Facebook marketplace or other used options can be a fantastic way to save money when it comes to our little bundles of joy. Often items are only used for a short period of time, making cost per use relatively high, and we can lessen this by utilising a second hand item.
Some companies have started providing guides on what to look for when buying their items second hand to ensure safety, such as BabyBjorn’s second-hand checklist for their products.
Red nose Australia has also provided a reference sheet for buying second hand nursery furniture, to ensure that these items are safe for bub. Our main recommendation would be ensuring it has been within a smoke free environment (which may be tricky if from someone you do not know, or alternatively may mean buying a new mattress for a cot).
Another item worth discussing is a car seat. In Australia, the current recommendation is that a car seat is no longer safe for use if it has been in any kind of crash (no matter the severity)^. This is something that may be hard to determine when utilising the second hand market.
Utilising the second hand market for baby goods also has a positive impact for our environment, so is a double positive!
Nappies -
Babies can use as many as 3,000 nappies in the first year of life. You will be changing your baby’s nappy quite frequently when they are born, and this will decrease as they grow older. Cloth nappies are an option to save money and reduce the impact on the environment, however this option is not appealing to everyone^^. Another option that is becoming more popular, is utilising a mix of reusable and disposable nappies. If using disposable nappies, looking out for sales and buying at this price can save a significant amount of money. There are also some nappy subscription options available, such as on Amazon, which give an additional discount and can be delivered at a selected frequency (lessening the mental load, win).
Clothes -
Trust us when we say, our babies wore onesies exclusively for the first few months of life. Specifically, zip onesies. We know, baby clothes are so so cute, and if you love this then absolutely go ahead. However, if you love the idea of the ease of a onesie being an entire outfit, go for it! Our little loves grow so quickly in the early months, that I am sure every parent can relate to the guilt of only wearing a gorgeous piece of clothing once before they grow out of it. Save your money for a couple months in and clothes will get so much more wear!
Thoughtful spending -
As paediatric nurses in the baby/child space, every item we purchased whilst expecting our little loves, was incredibly well researched and thought out. With the ease of purchasing at any time through online shopping, it can be so easy to buy things and not necessarily need or then use them (we have all been there!). We will soon be sharing Nicole’s well thought out and curated list of pregnancy/ newborn items, which will help with exactly what you may want to consider when planning or welcoming a little one. Keep an eye out for this resource - with some added ways to help save you some money!
This blog is written by Shayna, a NICU/Emergency Nurse and Mum to her young daughter.
References:
^https://www.tac.vic.gov.au/road-safety/staying-safe/seatbelts/nested-
content3#:~:text=Do%20not%20use%20a%20second,been%20involved%20in%20a%20crash
^^https://www.boroondara.vic.gov.au/about-council/news-and-media/boroondara-
news/launching-our-reusable-nappy-program-boroondara
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