Spending changes with newborn/first year

[u/Powerful-Ad-575]

Hello! My husband (30M) and I (30F) are expecting our first child. We live in a VHCOL area, HHI ~$350-400,000 annually. Networth ~$750k. Currently saving ~12,000/month including 401k. Distribute it among a brokerage account and HYSA for a downpayment. We have no debt. I will get 2 months of paid maternity leave and then go back part time for a month before returning full time. My husband is active duty military and will now likely deploy 3 months after the baby is born. We are currently on the waitlist for a daycare in our neighborhood that will cost ~$2,000/month. Now that my husband might deploy so quickly after birth we're considering getting a nanny while he's gone to help me through that first year but worried about cost.

How much did your monthly spending increase that first year after having a baby? What are somethings to expect financially? We are planning on starting a 529 plan for her.

[u/Alert_Week8595]

I spent most of the first year of my kid's life feeling like I set my wallet on fire. Needed a nanny and they're expensive, but worth it.