Don't be a baby -- budget for that kid now
By Brian O'Connor • Bankrate.com

The good news: Being a mammal can save you big bucks after Junior exits the womb. There is such a thing as a free lunch, at least for infants.

The bad news: The $1,200 to $1,400 parents can save by breastfeeding instead of giving a baby formula and baby food is soon eaten up on the other end (figure $500 to $600 for disposable diapers), and even more goes to additional life insurance for the family breadwinners ($250 to $600 or more).

When it comes to bringing up baby, somebody needs to bring up the subject of money, which we'll do right now. But, of course, no one can put a price tag on ushering another beautiful, fragile and unique human life into this world.

Wrong. It's $160,140. Plus tax.

That's what the Department of Agriculture (agriculture?) says a middle-income, two-parent family will spend raising a child born in 1999 through age 17. For upper-income families, the cost climbs to $233,850. And that's not including college, either. Check out the numbers on our chart.

All in all, the aggies say, babies are an expensive crop to raise. All the better to start planning now. That means saving, which means, cutting spending, and that means managing your debts, conserving cash, socking some money away and investing along the way, just in case the genes from your side of the family triumph and Missy makes it in to Bryn Mawr.

So take some time to figure out what you need and how much it will cost. Start with this calculator.

-- Updated: Dec. 12, 2001