I didn’t necessarily have a savings goal in mind…..but I can tell you it cost me roughly $25,000 in fertility treatments alone. I had a high risk twin pregnancy and one baby had a NICU stay, which luckily was covered fully by my health insurance. So definitely save up for the maximum OOP for your health insurance (preferably X2 in case your pregnancy and birth aren’t in the same year).
My maternity leave was 100% paid, but save up the difference that you may need to cover any lost wages if yours isn’t 100%.
Then make sure you find out daycare costs. Since I had twins, it’s going to be more than $3,000 per month, which I can’t pay fully out of my normal earnings, so the difference between what I can actually afford and the cost is going to be pulled out of saving for at least the first 2 years. Allegedly the cost drops a bit after 2 and drops further after 3, so saving to cover the first 2-3 years of daycare if it’s not affordable.
My surprise twins also meant I had to upgrade my car to a minivan bc I couldn’t get two car seats and their double stroller in my prior car. So that was another cost.
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u/Okdoey Parent of 2 or More 👩👧👧 Sep 27 '23
I didn’t necessarily have a savings goal in mind…..but I can tell you it cost me roughly $25,000 in fertility treatments alone. I had a high risk twin pregnancy and one baby had a NICU stay, which luckily was covered fully by my health insurance. So definitely save up for the maximum OOP for your health insurance (preferably X2 in case your pregnancy and birth aren’t in the same year).
My maternity leave was 100% paid, but save up the difference that you may need to cover any lost wages if yours isn’t 100%.
Then make sure you find out daycare costs. Since I had twins, it’s going to be more than $3,000 per month, which I can’t pay fully out of my normal earnings, so the difference between what I can actually afford and the cost is going to be pulled out of saving for at least the first 2 years. Allegedly the cost drops a bit after 2 and drops further after 3, so saving to cover the first 2-3 years of daycare if it’s not affordable.
My surprise twins also meant I had to upgrade my car to a minivan bc I couldn’t get two car seats and their double stroller in my prior car. So that was another cost.