Here’s How Much Parents Spend on Their Baby Each Day According to New Study
Raising a baby is expensive. When you add up the cost of childcare, food, clothing, and other essentials such as diapers and wet wipes, you’re likely left feeling overwhelmed. If you’re expecting a baby soon, you might be wondering how you’re going to cover the cost. The folks over at price-tracking app Earny conducted a study of how parents across the nation are shopping for their little ones.
How much new parents are spending
- Daily cost of diapers and wet wipes: $3.38 ($100 a month)
The survey found half of baby-related purchases were in the feeding and cleaning category. Diapers, wipes, and formula were the most frequently purchased items. Parents reported they purchase these items roughly every 27 days. They said they were going through about 11 diapers and 40 wet wipes per day, for a total amount spent of $3.38 a day and more than $100 each month.
- Daily cost of powdered baby formula: $2.96 per day ($88 per month)
The study also found babies drink around 10 scoops of powdered formula a day. Parents said they buy formula roughly every 15 to 30 days (depending on the package size and baby’s weight). The average spending on these products came up to $2.96 a day or $88.80 a month.
According to the Centers for Disease Control, close to 4 million babies are born in the United States each year. Each month, new parents are buying 1.3 billion diapers and 4.8 billion baby wipes. Consequently, they’re shelling out $405 million dollars to keep their babies clean and $266 million to keep them well fed.
Amazon is a favorite among new parents
Furthermore, Earny found their users preferred turning to Amazon for most of their baby’s cleaning products. Amazon prices tend to fluctuate, but those who used the Earny app benefit. The way the app works is that prices are tracked, and when the price of an item drops, users benefit from a refund.
Earny users who bought Luvs Ultra Leakguards and Pampers Swaddlers have seen an average price drop of $5 a month. Those who purchased Huggies Natural Care Baby Wipes and Pampers Sensitive Wipes typically see an average price drop of $4. Parents buying Enfamil Gentlease and Enfamil Infant Baby Formula generally see an average price drop of $7.
More expensive, one-time purchases such as strollers, car seats and pack ‘n plays yielded larger Amazon price drops. Graco Pack ‘n Play Playard Bassinet, which retails at $58.39, had a maximum price drop of $28.50 over the last 12 months.
How to save money during your baby’s first year
One of the easiest ways to save is to accept help from friends and family. If your loved ones offer to help with diapers, formula, and other essentials, gladly take them up on their offer. Also take time to look for deals. In addition to savings apps like Earny, search the web for coupon codes and sales. If you still have a few months to go before your bundle of joy arrives, use this time to start saving. Set up a savings account dedicated to baby-related costs.
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