Want Kids?… Here’s What The First Year Of Your Baby’s Life Will Cost

Babies. You like babies. You are expecting to be expecting. You've already painted the soon-to-be nursery in your mind a dozen times. You will only makes tentative plans for a year from now, because...well, you know. We get it. You want a baby and you want him bad!

Here are a few numbers you should soak in first, courtesy of msn.com. They aren't going to change the way you feel about having a bay, but they may provide a much-needed reality check.

"For the first six months, experts recommend:

--Infant car seat, which you can't leave the hospital without ($80)

--Car-seat carrier ($85)

--The Pack N Play ($60)

--Supportive nursing chair ($200)

--Bouncy Seat ($65)

--2 crib sheets + 1 for your Pack N Play ($20)

--1-2 baby towels ($15)

--Gerber's side snap T-shirts and a set of 6 onesies ($30)

--Nursing bra ($50)

--Burp cloths ($10)

--Crib ($190)

--Stroller ($250)

--Activity gym ($100)

These initial-six-months basics will set you back $615. That's before typical weekly expenses like diapers ($15), wipes ($2.50), baby food ($32), baby wash ($2), and diaper cream ($3), which adds up to an additional $54.50.

Total one-year cost of supplies: $3,989

Traveling with a baby includes additional costs, including renting a crib at a hotel and airline charges. When flying, you could find that flights during nap times are pricier and include a $100 charge for checking luggage and/or a stroller. You could also be forced to pay extra to make sure your family is seated together. Save money by taking advantage of a universal policy that lets children under 2 fly for free if they sit on your lap.

Total one-year cost of two plane trips: $420

One thing your baby could save you from is the percentage of your income you pay to the government every year. For starters, you can claim the dependent exemption, which is worth $3,900 per child. Plus, you get the child tax credit, which saves you $1,000 per dependent child, and you can deduct baby medical bills if they exceed 10 percent of your adjusted gross income. There are also credits for working parents, including the Child and Dependent Care Tax Credit, which can earn you up to $1,050 for each of your first two children. In order to make sure you get your money, get a Social Security card for your baby and keep receipts for all Medicare and day-care expenses.

Total one-year tax savings: $2,062

There's also the cost of childcare and daycare. Nannies make $15 to $20 per hour, for a total of at least $600 a week, or over $31K per year. Day care for infants can be up to $2,000 a month and summer camps cost about $400 a week. A money-saving strategy is to work "off" hours—those not between 9 and 5—and split the time at home with the spouse. You can also partner with other parents to carpool or share a babysitter.

Total one-year cost of full-time day care: $24,000

Saving for a child's education is one of the biggest  financial burdens any parent can take on. The best way to become a good saver is to start at an early age and make it automatic. Get used to putting money aside regularly or you'll struggle later in life. It's not the amount you save that matters, but the years your money is allowed to grow. With the rising costs of college, you'll need to a few several hundred dollars a month to be able to make enough to pay the bill for a four-year degree.

Total one-year cost of saving $200 per month: $2,400

Your child's health is a top priority. Keep money from getting in the way of that by digging up a list of doctors that are on your insurance plan and find out how you need to adjust your plan to insure your child. Some companies have plan options with higher rates and different deductible levels for individuals, individuals with spouses, and family plans. You should also check into coverage for your hospital costs, prenatal care, baby checkups, and vaccinations, as plans will typically cover 25 to 90 percent of the costs.

Total one-year cost of additional health care: $284.80

*** Total cost for the first year of your baby's life: $31,833.58"

Good luck with your baby!