Smart Woman: 123's of Baby Budgeting

A Harvard researcher has determined September is the busiest month for birthdays! If you plan on getting pregnant soon, you'll need some time to budget for baby.

On childcare alone, a mother of two spends thirteen-hundred dollars a month.  

Experts say she can expect to spend 221-thousand dollars on each child until they're 17.

Accountant Kelley long has a simple, low-tech way to keep parents on track: use cash, instead of plastic.

She says, "It's a lot harder to hand over six, 20 dollars bills for a pair of boots than to swipe your card. I like to go old-fashioned and use the envelope method."

Determine what you can spend on things like groceries, baby clothes and dining out. Then, put that cash in separate envelopes every month.

If you blow your grocery budget, take it out of another envelope. Don'tgo back to the bank, and discipline is key.

Another tip, before your baby is born, try living off one parent's income while putting the other parent's earnings in savings. It will give you a good idea of how your budget could change if one parent decides to stay home with the new baby and will help jumpstart savings for every-day baby items or the child's future education.