When you’re planning your baby’s first birthday, your first thought may be, “Should I buy a planner?
If so, which one?”
If not, the answer to that question may depend on the budget you’re aiming for.
You might want to get an affordable, high-quality planner, or you might want a more affordable, standard-issue planner.
Here’s a look at the options.
The Best Budget Planning Planner For A First-Birth Baby In 2019, the U.S. Bureau of Labor Statistics estimated that the average annual cost for a first-birth baby is $5,835.
The Bureau of Economic Analysis estimates that an average family of three will have a $1,600-per-month mortgage and that for a single person, a mortgage of $500 a month will leave a $10,000 balance by age 25.
So the best option for your budget may depend upon what kind of lifestyle you want your baby to have.
Budget planner, for instance, is a popular option when you’re looking for a budgeting tool that’s affordable, but that also includes a great deal of other information that can be helpful, such as your income, your education, and your ability to plan for your financial future.
A budget planner, however, may not be the best tool for you.
The following chart shows the best budgeting planner for a 1-year-old.
The average annual costs for a newborn vary from $4,500 to $6,200.
Budget calculator, for example, costs you $539 for a basic model and $738 for a higher-end model.
If you’re shopping for a standard-sized planner, you’ll pay $1.083 more for it.
And if you’re buying a budget planner with lots of other useful information like how much you’ll save on healthcare and where to spend your money, you may find it a bit of a drag to figure out how much money you actually need to save for your baby.
The best budget planner for the average person can be found at the following budgeting site.