When you have a baby, there are some obvious expenses that you as a parent prepare for. There's the crib, the endless amount of diapers, the breast pumps - the list goes on, and on, and on. While you may factor in every penny you're going to spend, you might not realize that your friends also shell out a sizeable sum when you have a baby.
According to Thortful, close friends (we're not including Susan that you said hi to in the break room that one time) will likely spend up to $1489 on your child in the first ten years of their life. It may seem like an extraordinary wad of cash, but that's mainly down to birthdays and other celebrations.
For instance, in the first 12 months alone, adults will spend around $346 on baby shower gifts, christenings, and even gender reveal parties. Not only that but gifts for mom and dad (presumably chocolatCredit: iSe and wine if we have anything to do with it), gifts for when the baby arrives, and gifts for baby's first Christmas. The costs all mount up! After that first year, things settle down considerably to around $127 per annum, going by Thortful's research.
It might sound like a lot of money, but it's a drop in the ocean compared to what the child's parents shell out in that first period. It's thought that new moms and dads dump an estimated $71,999 to make sure their new arrival is suited, booted, and dry bottomed. Eyewatering? Yes. Necessary? Absolutely.
Of course, factor in multiple friends having babies at the same time and a close confidant could find themselves a little strapped for cash. These numbers don't take into account other variables, such as travel expenses if you don't live local, or those of us that are so extra we buy everything we see in Target on a whim. Whether you're the giver or the given, there's nothing quite like looking at teeny tiny booties or counting a newborn's little fingers.
If you're going to spend money on anything, a baby is a pretty good place to start, don't you think?