Moms often end up with the Financial Short Straw when Baby comes Along

You're pregnant, and suddenly you can only think about nursery colors and baby names. But there's a more sobering reality - the financial impact this baby will have on you, the mom. Although you know that a baby will impact on your career, your relationship with your partner and on your lifestyle, you don't necessarily consider the effect the new addition will have on your bank balance and savings. Time Off You're legally entitled to at least few months' maternity leave, during which your employer is not obliged to pay you. Once the maternity leave is up, you may decide to take additional time off, stop working altogether, or opt to reduce your working hours. All of these will affect your take-home pay and, by implication, your level of personal savings and investment options. Savings Assuming you and your partner jointly decided to have children, is it fair that you're more out-of-pocket than him, simply because nature has designated you as the child-bearer? The financial implications should be discussed with your partner before your baby's arrival, preferably before you're even pregnant, to ensure you're both aware of how much it costs to have a baby. The Budget Establish what your household can or can't afford. Draw up a budget of your joint expenses to determine this, building in additional costs like child care, nappies, food and clothing. Encourage discussion of what's fair and practical, although determining what's fair can be difficult. One suggestion is that your partner pays you a salary. Another approach is to use your partner's income (plus any maternity benefits that you're receiving) to pay all joint household bills first, and to split the remaining amount equally. However, it's crucial that you maintain your own savings during this time. Your Budget These guidelines can vary quite substantially, but should give you a good idea of costs to factor in when drawing up your baby budget: Initial Outlay Pram, cot (camper and normal) and car seat - upwards of $1000; changing table at the correct waist height - $50 to $100. You'll also need a changing mat. Second-hand may be an option. Blankets, toys and clothes - $50 or more. Maternity clothes, feeding bras and comfortable shoes. A good feeding bra can cost up to $60. For the first couple of months after birth, factor in about $15 for disposable breastfeeding pads and sanitary towels. Doctors' check-ups, scans and the birth. Calculate what your medical aid will pay as well as the potential shortfall. Ongoing Costs Bottles and teats - around $30. Teats are age appropriate and will need to be upgraded periodically. The same applies to dummies, which cost about $5 for two. Disposable nappies, bum cream, wet wipes/cotton wool, formula and sterilizer - more than $100 per month, depending on your baby's age, whether you're breastfeeding or not and the formula type. Formula can cost from $45 to $65 per month. Toweling nappies - an initial cost of around $160, but no cost thereafter. Clothing, including shoes - a minimum of $200 to $250 per child per year. Rates for childcare will vary according to where you live, but typically, a full-time live-in nanny is paid at least $300 a month. If you're working, daycare can cost between $100 to $200 a month. For holiday care, budget for around $7 per child per day. You'll need to add your children to a medical aid. A basic hospital plan for a family of four costs around $200 a month. Reality Check For women accustomed to earning their own money, being financially dependent on their partner is tough, but ask yourself the following question: What would it cost to employ someone to look after a baby, day and night, for the first few months of its life? These principles apply whether you are planning on taking four months or four years off to have children.