<prompt> Human: How much dodid you set aside a monthyear for your newborns to 1 year? We wont be using daycare - as weve got plenty of help from family members. or figure will work - just want to get an idea of what to expect and where to allocate funds. Weve got about 8 months of comfortable living expenses saved meaning we could both quit for that period without dipping into retirement and still have some cushion - could push that out to 12.Assistant: Honestly newborns arent that expensive if you dont have to pay for daycare. If you breastfeed, you save a ton of money by not having to buy formula. Diapers and wipes will probably be your biggest expense. Youll probably spend at least 50month on those. My kid is 2 years old now, but this is roughly what my monthly expenses looked like the first year. Daycare: 1200 Diapers: 50 Formula: 40 To supplement breast milk. Cost would have been higher if 100 formula 529: 200 Clothing: 20 received a lot of clothing as gifts Medical Insurance: 50 Additional from going to a family policyOne other thing to consider since your kid wont be in daycare, you might look at what it costs to send your kid to daycare for once or twice a week when they get a little older closer to 1-2 years. Its hard for kids to get the socialization they need otherwise. The free alternative is to join mom and playdate groups, but they need to learn how to be away from their parents and play with other kidsinteract with adults without their parents hovering over them. My mom is a kindergarten teacher and the difference between kids that went to daycare and kids that had no daycarepreschool at all is huge in terms of socialization and transition into schooling.Human: Thanks! This is exactly what I needed...looks like I wasnt to far off and we should be fine. We too are receiving tons of clothing as gifts and my wife will be breastfeeding.Did you start the 529 from day 1? I would love to allocate some of our random savings into something for her.I like your idea on daycare when she gets older. We are definitely proponents of socializing her at a younger age, and interesting to read that your mom can really tell a difference.  <response>: If you do cloth diapers and wipes, you can save a ton! Id say the initial total investment for the diapers, wipes, bin, wet bags, etc would be roughly 500 or less, but within about ten months that cost is 0. Also, most of the cloth diapers nowadays are adjustable enough that they can wear them until about 2.5 years! 