9 comments

  1. Unless you have so much money that you really don’t know how much money you have, you can never have enough extra cash. You do put forth some good ideas here and I am glad I found your blog since we are several months behind you in the new baby arena.

  2. Hey Tyler,
    My wife and I just had our first about 3 months ago. After all of the first initial expenses (items that you have to buy that you didn’t get for gifts), there really is not that much expense. Diapers are the biggest repeatable expense. Clothes can be obtained as hand me downs from relatives, or you can find a good used baby clothes store where you can really save a lot of money. In the end I don’t imagine our son has added much to our expenses. Perhaps 5% but you really won’t notice it…

  3. Tyler,

    Congratulations on the baby. I felt exactly the same when my first child was born. I immediately setup a 529 plan when she was born eight years ago. I started small at first contributing $100 per month and treating it like another bill. I gradually moved the amount to $225 per month. $75 split between three different investment options.

    I did the same for my son when he was born three years ago. I don’t pay much attention to these accounts. However, once a year I enter all the transactions into Quicken. It is pretty incredible to see how just a small amount of money invested every month can grow.

    I have to admit my wife has been after me to get a will done.

    Good luck,
    Jake

  4. Thank you all for your congratulations and good wishes. I hope to get back to updating this site on a more regular basis once things settle down a bit here.
    I have been out of the loop for a few days and am trying to get back into the swing of things.
    Thanks again for the comments!
    -Tyler

  5. Tyler,

    Congrats on the baby! I just wanted to throw in my two cents. I’ve always found that three to six months of expenses was enough for an emergency fund. You figure the worst case scenario is you lose your job and hopefully by the end of six months you have a new one.

    Keep up the great work 🙂

  6. I think us in the middle class to higher middle class are bunch of programmed monkeys. We do and say the same things. The one area of your financial statement your not working on is the income side. That is why me and all of us will be stuck in the rat race of life. Savers and Losers, Cash is trash. Cash flow is king!!

  7. @moneygardner- “Diapers are the biggest repeatable expense”

    I agree, after that it’s not that bad.

    Once we had our first, I think we was over dramatic. We spent no more than a $1000 bucks on baby furniture and diapers during the first year. The rest came from grandparents and baby shower.

    But of course each parent is different

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