Newly released figures put the cost of raising a child at more than $300,000. This week, Julien and Kiersten Saunders share the pre- and post-baby costs you need to factor into your family-planning budget, what products and maternity items you can skip buying, and their No. 1 tip when it comes to spending.
Prices vary when it comes to having a child—from medical emergencies to formula costs to schooling—but no matter the case, there are still a plethora of expenses every future parent should prepare to absorb. It’s not just necessary to save money; it’s also important to plan the best and most efficient ways to spend it. Julien and Kiersten discuss the importance of setting up a health-specific savings account, what necessary budget adjustments to consider and ways to save money on baby supplies.