Fatherhood: Priceless

on’t you just love those credit card commercials where they add up all your expenses so neatly and then remind you of that ultimate bliss for which there is no price tag?

The joys of having a child certainly can’t be measured in dollars and cents, but it’s also true that your little bundle is going to wind up costing you a bundle. Once you get that bun in the oven, the cash register kicks into gear and the whole process can make you dizzy.

But don’t worry – this is all doable and probably way more manageable than your wife’s mood swings.

THE BREAKDOWN
Baby expenses can be divided up into five basic categories: medical, hard goods, soft goods, expendables, and extras.

MEDICAL
Assuming you have insurance, the bulk of your medical costs will be covered, but the co-pays and deductibles do add up. We had full coverage from Blue Shield and our additional expense was around $1,900. That does include a circumcision, so if you plan on keeping junior’s cap on, you might save $250. You may want to think about how you’re going to explain why his equipment looks different from Daddy’s a few years down the line (if that’s the case), but you can always blame it on the economy or rising interest rates if you have to.

HARD GOODS
You don’t have to spend more than a minute at Babies “R” Us to figure out there’s a lot of gear out there. After all, we’re talking about an industry with retail sales that topped $7.5 billion in 2006. Before you sell the golf clubs and take out a second mortgage, rest assured you don’t need most of it.

Breast Pump

There are a few things, however, that you can’t really do without. For example, unless your wife plans on running a 24-hour-a-day milk bar, you’re probably going to want to get a milk pump. No, this is not a Swiftflo system from Dairymaster. But it is one of the most ridiculous-looking contraptions you may ever see on your wife. Resist the temptation – don’t make fun of it, and get the most reliable one you can afford. We rented an excellent Medela machine through a rep at the hospital for about $50/month. This includes purchasing the parts that are up close and personal – only the pump itself is rented – and unless you have an uncontrollable imagination, you probably won’t have much use for it once your baby is off breast milk.

Bassinet
There are a number of other things you’ll want to budget for in the short term. A bassinet can cost anywhere from $50 to $400 or more, but keep in mind your baby will outgrow it. We spent hours evaluating the options, picked out a terrific Eddie Bauer for $150, and two months later, our little guy decided he preferred the crib. We have a pile of outgrown gear in our garage that might be considered landfill in some counties.

One bassinet option that we used successfully is the Co-Sleeper. This is a bassinet/crib that attaches to your bed and allows mom to roll over and take care of baby’s middle-of-the-night feedings without getting up. For around $200, you can save yourself a lot of sleepless nights – you may still be up every couple of hours, but at least you won’t be doing as much walking.