How much savings you should have before conceiving the baby?
My husband and I are planning to start a family soon. We are trying to understand the financial aspect. How much savings do you think one should ideally have before conceiving a baby?
Keep in mind that deliveries can sometimes end up being C-sections, which cost more than normal ones. My unexpected C-section and recovery care added to the budget. It's safe to keep a separate buffer of 50k-1 lakh just for emergency medical situations.
Let's be real, babies are expensive in metro cities. Private hospital deliveries can easily cost 1-1.5 lakhs, plus vaccinations and gear. Try to save at least 2-3 lakhs before conceiving so you don't have to compromise on your comfort or choice of doctor.
Don't stress too much about having crores in the bank, sweetie. Start by checking your health insurance coverage first. If you have enough to cover delivery and basic baby gear for the first few months, you are good to go.
It really depends on your city and hospital choices. I'd suggest calculating the cost of regular gynac visits, scans, and delivery at your preferred hospital first. Having an emergency fund of at least 1.5 to 2 lakhs just for medical expenses is a good starting point.
We had to face some pregnancy complications which required extra scans and specialist visits. Always keep a generous medical backup fund. You should also consult your doctor about expected test costs in your area so you can plan properly.
Double the babies, double the cost lol! Trust me, buy basic things first and don't go crazy on fancy baby products. If your insurance covers maternity, that's half the battle won. Just have some liquid cash ready for sudden tests and medicine bills.
