Savings for a baby? | ExpatWoman.com
 

Savings for a baby?

192
Posts
EW NEWBIE
Latest post on 25 January 2012 - 14:23

Hi Ladies,

have a very random question which may be potentially stupid/pointless..

I am waiting to TTC due to my husband starting his business, so have waited 2 years and hope that by end of this year we can start TTC. Fingers crossed.

Someone told my already delaying husband that babies are SOO expensive and make sure we have at least 100-200 thousand dirhams saved before baby arrives. This is obviously so hard as im the only one earning at tho mo and we live pay cheque to pay cheque.
Is this true or just some new dad trying to scare my DH?

Any advice is appreciated ladies as i fear it may delay my hubbie even more from agreeing to a baby! :(
<em>edited by Freckly on 25/01/2012</em>

192
Posts
EW NEWBIE
Latest post on 25 January 2012 - 15:20
Thanks girlies, yeah my company provides maternity 2 months pay, and health insurance for delivery costs up to 15k. So obviously will need cash for the delivery itself. I would def still need to work as his company wont be making that much cash by end 2013 by the time the baby arrives. Yeah nurseries would be the biggest expense really.. I think they mean 100-200k for the first few years,i would hope! :\:
1109
Posts
EW OLDHAND
Latest post on 25 January 2012 - 15:10
hmmm... when they say 100-200K for a baby do they mean across it's first few years or just fothe actual delivery??? costs related to a baby is pretty much like every other life activity... it's all relative! take, for example, in terms of the antenatal package and the actual delivery... you could go to American Hospital and pay close to 30K to deliver your child... or go to a government hospital like Al Wasl and pay half the cost! you could exclusive breast feed your child for two years and hence ensure 'free food' as opposed to putting the kid on expensive formula from day 1... for nursery furniture you could buy regular furniture from Babyshop (and spend just about AED 3000/- for a fully done nursery) or then pay three times the amount buying from upmarket stores like M&P or Pottery Barn... same goes for baby clothes and supplies... and eventually when it comes to play schools and day care... u are looking at spending around 20-30K for a good one per year... so honestly... it's not allllll that scary... a big advantage you would have on cutting costs is if ur company provides u with maternity cover and also health insurance for the child :)
2782
Posts
EW EXPERT
Latest post on 25 January 2012 - 15:04
Babies are not expensive, but sure, if you factor in schooling, university and your lost income while you raise them there is a financial cost that you'd have to budget for. So far my lost income has been our only significant cost. If your husband doesn't have an income then you def would have to have a plan for how you'd survive as you would obviously have to take at least some time off and then pay for daycare if you choose to go back to work. Many small businesses run at a loss the first few years and you will need either savings or your income to get past that so the timing isn't great. then again, depending on your age, waiting too long might cost you a fortune in fertility treatments. Def you need to sit down and do the sums and make a plan of how you can work it.
 
 

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