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Babies getting more expensive

| Saturday, Aug. 7, 2010

Adding a new member to the family will cost first-time parents about $6,500 in basic supplies just for the first year, according to research by parenting and pregnancy website TheBump.com. Other expenses such as insurance, child care, support services and loss of income can add up to as much as $30,000.

Borrowing, bargain hunting and buying in bulk are some great ways to cut costs, says Carley Roney, editor-in-chief of the website's online publication.

Babies are most comfortable in little cotton T-shirts and sweatpants and don't need toys until they're at least six months old, Roney points out.

The necessities, however, add up. Diapers, which can cost about $1,000 in the first year, are much cheaper when bought in bulk. Breastfeeding, meanwhile, can save an average of $35 per week, or between $1,000 and $2,500 a year.

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