Wah, this is such a good question to plan ahead for, a few of us were just talking about this recently! From what I've heard around, you're generally looking at somewhere between $13K to $25K for the first year if you're quite careful, but some mums have shared it crept up to $40K+ once you factor in hospital bills, formula, and all the unexpected extras. Infant care alone without subsidy can run you $1,250 to $2,000 a month, so that's easily your biggest monthly hit. On top of that, budget roughly $500 to $1,000 a month for diapers, formula, check-ups, and meds, it adds up faster than you'd expect, especially since you won't get the subsidised rates at polyclinics. One of my mum friends who went through this says the key is to track every category separately from the start, so nothing catches you off guard mid-year!
Read more
