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Having a budget planner when thinking about having a baby is a wise idea as most people worry about having that much needed money before taking that step. This is something that you can do yourself and if you want to make sure to budget out wisely and have the money that you’ll need it really does take budgeting for each stage of your future child’s life.

Starting your plan is going to take planning your budget for all of the items your new baby is going to need such as:

• Daycare (if both parents are planning on going back to work)
• Pictures
• Toys
• Health costs not covered by insurance

Write down all of the money that you’re willing to spend and then you’ll want to shop around for the best deals. Doing this ahead of time is going to allow you the time to find some amazing deals that are gender unbiased since you’re not sure of the sex of your baby yet. You can get gender specific later on in their development.

As your baby continues to grow and is getting to the toddler age make sure you keep track of their growth trend and the sizes that they are wearing. Set a budget that you’ll want to make sure to stick with and don’t get too out of control as this is the time where they are really growing and will not be in one size for a long period of time. No need to buy that $100 pair of pants when they aren’t going to be in them for more than a few months.

Up to a year before your child is going to start preschool you’ll want to factor in these cots. Make an estimate on the amount of money that you’re going to need per month and start saving for that. If you have friends with kids that are a little older they can be a great resource. You should make sure to include some money for activities like their swimming lessons, dance, sports or whatever they are doing.

Keep track of the costs that your child as they are school aged that they are going through each year. You’re going to want to include the following for sure:

• Lunch money
• School pictures
• Field trips
• Party supplies for class parties

When you have a year under your belt you’ll have a much easier time budgeting for the next year.

As your child begins to grow older and comes closer to high school you’ll want to make a list of everything you think they might need and some planning even further than that. The following are some things you might want to consider:

• Spending money
• Future college tuition
• Clothes
• Sports
• Graduation
• Prom
• Class pictures
• Senior trip
• School clubs
• Misc other

Before you know it your child is going to be done with high school and on their way to college. You’ll want to sit down with them and know how much money is actually going to be available and what will be needed for loans and for them to earn for themselves. It’s likely that most kids are going to work through school but are going to have to get some financial help with books, living expenses, tuition and some spending money still.

Planning ahead is one of the best ways that you can make sure that you know the money that you’re going to have, what you’re going to need to have and be prepared for what’s coming in the future.