- Watching Gamers:Dorkness Rising #
- Charisma? Weee! #
- Tweeting a dork movie? I'm a bit of a geek. #
- We just met and the first thing you do, after boinking a stranger in the presence of the king, is to murder a peasant? #
- Every movie needs a PvN interlude. #
- Everything's better with pirates. #
- Waffles? Recognize. #
- The Spatula of Purity shall scramble the eggs of your malfeasance. #
- Checkout clerks licking their fingers to separate bags or count change is gross. #
- Watching Sparkles the Vampire, Part 2: Bella's Moodswing. #twilight #
- @penfed was a waste of money. $20 down the drain to join, wouldn't give a worthwhile limit, so I can't transfer a balance. #
- @JAlanGrey It's pretty lame. The first one was ok. This one didn't improve on the original. in reply to JAlanGrey #
- RT @tferriss: Are you taking snake oil? Beautiful data visualization of scientific evidence for popular supplements: http://ping.fm/pqaDi #
- Don't need more shelves, more storage, more organization. Just need less stuff. #
- @BeatingBroke is hosting the Festival of Frugality #226 http://su.pr/80Osvn #
- RT @tferriss: Cool. RT @cjbruce link directly to a time in a YouTube video by adding #t 2m50s to end of the URL (change the time). #
- RT @tferriss: From learning shorthand to fast mental math – The Mentat Wiki: http://ping.fm/fFbhJ #
- RT @wisebread: How rich are you? Check out this list (It may shock you!!!) http://www.globalrichlist.com/ #
- RT @tferriss: RT @aysegul_c free alternative to RosettS: livemocha.com for classes, forvo.com for pronunc., lang8.com for writing correction #
- Childish isn't an insult. http://su.pr/ABUziY #
- Canceled the Dish tonight. #
Kim Kardashian’s Baby Has It Easy: How Much Does It Cost To Have a Baby?
If you have not heard that Kim Kardashian has officially given birth to baby North West with rapper boyfriend Kanye West, you have probably been hiding under a rock.
Baby North was welcomed to the world several weeks early on June 15, and since then has been showered with thousands of dollars in gifts from family and celebrity friends like Beyonce and Jay-Z. Saying that baby North will never want for anything materialistic is putting it lightly, but how much does it truly cost for the average person to have a baby in today’s modern age? Here is a brief breakdown that will help you start saving before you start planning to have your very own precious baby.
The Hospital Bills and Doctor Visit Costs
While you probably will not have to pay for your prenatal and post-natal care out-of-pocket, the average insurance plan does come with out-of-pocket percentages that you must pay when you are hospitalized or when you visit the doctor. If you did not account for the medical bills when you were budgeting for baby, this is the first financial roadblock you will run into. You might not give labor in a luxurious suite like Kardashian, but it will feel like you did when you get the bill. Most parents report spending about $2000 out-of-pocket for the delivery and the hospital stay. This does not include the cost for co-pays for doctor visits. If you do not have insurance, expect to spend about $10,000 for a vaginal birth or $16,000 for a cesarean section, assuming there are no complications.
The Costs of Caring for a Newborn Baby
You will get some great gifts at your baby shower, but you still will spend money on the necessities. If you are not lucky enough to get $7000 gifts from your friends like Kanye and Kim, you should allot a budget for the big items first, and the basic daily necessities second. You will need a crib, a stroller, a car seat, and eventually a highchair, but these items are not as expensive as you might think. If you can pass up the designer brands, you can find great deals at consignment stores or retailers. Thrifty shoppers can purchase the must-haves like car seats, baby monitors, changing tables, cribs and strollers for $450 or less.
In addition to the immediate necessities, you will incur other regular expenses for diapers, clothing, wipes and childcare. Kim and Kanye may be guilty of buying $50 onesies, but you do not have to have custom Gucci clothing made for your little one. Remember that your baby will grow out of their infant clothing in a month or less. Accept hand-me-downs, and you can save quite a bit of money. Diapers, on the other hand, are a re-occurring expense that will not go away. Expect to spend at least $80 to $100 per month on diapers and wipes until your baby is potty trained. If you are not breastfeeding, allot about $100 per month for formula until your baby advances to baby food.
Kim and Kanye may have plenty of money to give Baby North whatever her heart desires, but new parents can raise a baby on a reasonable budget. It is difficult to put an actual number on how much it costs to have a baby, but being a parent is not cheap. Keep the fact in mind that love and affection is much more valuable than the material things. Consider the real costs of being a parent, and this includes lifestyle costs and monetary costs.
Related articles
Saturday Roundup – Holiday Edition
Merry Christmas.
Or, Happy Saturday, as the case may be.
T0day, we are herding all of my nieces, nephews, brothers, sisters-in-law, and parents into my house for a second Christmas dinner and gift exchange. It’s the first holiday we’ve hosted. It should be interesting.
On a side note, we’ve gotten so much snow, I’ve almost lost my grill, sitting on my deck. Another 2-3 inches, and my patio table will be just a white mound of cold.
Best Posts
Here is a great story about waking up the Christmas spirit. That’s spirit, not spirits. We’re not discussing booze.
Think you can retire on a million bucks? Think you can get to a million bucks?
I’ve recently realized that I’ve spent more time on the hiring side of the interview table than the out-of-work side. I’m nowhere close to 500 hires, though.
Oooh! Shopping for money! That’s something I’m going to look into. Nothing like turning habits into cash.
This is some serious travel hacking. 15 flight, 16 cities, 9 countries, 35000 miles for $400.
LRN Timewarp
This is where I review the posts I wrote one year ago.
The secret to fearless change? Just get started. Everything else will follow.
I also wrote a post about one of my core values. Without integrity, what can you really have?
Finally, a post on how distractions will kill your productivity.
Carnivals I’ve Rocked
How Much Should You Tip? was an Editor’s Pick in the Festival of Frugality. Thanks!
Shaving for Real was included in the Carnival of Money Stories.
Anchor Price Your Salary was included in the Carnival of Personal Finance.
Thank you! If I missed anyone, please let me know.
Get More Out of Live Real, Now
There are so many ways you can read and interact with this site.
You can subscribe by RSS and get the posts in your favorite news reader. I prefer Google Reader.
You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.
You can ‘Like’ LRN on Facebook. Facebook gets more use than Google. It can’t hurt to see what you want where you want.
You can follow LRN on Twitter. This comes with some nearly-instant interaction.
You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of. I promise to reply to any email that isn’t purely spam.
That’s all for today. Have a great weekend!
Saturday Roundup – No More Car
…err, no more car loan. I paid off my car this week, a year early! Now I’m down to 2 debts: a credit card with an embarrassingly high balance and my mortgage. We’re rocking the debt snowball!
Free Money Tip
INGDirect is having a sweet promotion. Open a checking account, use it three times in 45 days, and get $50 free. Free money is the best kind. I love my ING account and keep all of my savings there. If you don’t have an account there, yet, now is a great time to open one.
30 Day Project Update
This month, I am trying to establish the Slow Carb Diet as a habit. At the end of the month, I’ll see what the results were and decide if it’s worth continuing. For those who don’t know, the Slow Carb Diet involves cutting out potatoes, rice, flour, sugar, and dairy in all their forms. My meals consist of 40% proteins, 30% vegetables, and 30% legumes(beans or lentils). There is no calorie counting, just some specific rules, accompanied by a timed supplement regimen and some timed exercises to manipulate my metabolism. The supplements are NOT effedrin-based diet pills, or, in fact, uppers of any kind. There is also a weekly cheat day, to cut the impulse to cheat and to avoid letting my body go into famine mode.
I’m measuring two metrics, my weight and the total inches of my waist , hips, biceps, and thighs. Between the two, I should have an accurate assessment of my progress.
Weight: I have lost 17 pounds since January 2nd. That’s 6 pounds since last week. I cheated this week and had a slice of toast and 6 croutons with my grilled chicken-but-no-cheese salad.
Total Inches: I have lost 9 inches in the same time frame, down 3.5 since last week.
Naturally, the first week is the most dramatic. That’s when my body was flushing most of the garbage I’d been eating, including holiday feasts. I’ll have a hard time complaining about 6 pounds in a week. My guess is that I drop another 10-15 pounds by the end of the month, bringing the average to about 1 pound per day. Over time, that will drop as my base caloric burn drops to match my new weight.
Best Posts
Realized Returns is giving away a Kindle. I would greatly appreciate it if you didn’t enter, because I’d love to get a Kindle.
Maximizing Money has put together a stellar list of financial blogs. If I’m not enough to keep you going, take a look at that list.
Mystery shopping sounds like it could be such a sweet deal for some people. Always try to make money doing what you love.
Here is another list of sites that can make you some money. I love side hustles.
And finally, here is Lifehacker, showing you how to make better cocoa.
LRN Timewarp
This is where I review the posts I wrote one year ago.
I wrote a post on saving money while cooking. This post has easily withstood the test of time. We keep getting better at stretching our budget. Over the last year, we’ve actually reduced our food budget by an additional $50 per month, while the quality of our meals has gone up.
This was the first week I posted a 30 Day Project update. My first goal was to start waking up at 5AM. That worked well for almost the entire year, but I’ve let that slack off over the last few months. On the weekends, I don’t set an alarm or try to get up early, but I’m still up by 7:30, usually. During the week, my alarm goes off at 5:10, but I let myself snooze it. I’ve discovered that I do better at attending to my personal projects(like blogging) late at night instead of early in the morning. So, I’m going with what works, instead of trying to force what doesn’t.
I also reviewed the bills I pay that aren’t paid monthly in my third budget lesson.
Carnivals I’ve Rocked and Guest Posts I’ve Rolled
First 3 Things to Do in the New Year was included in Crystal’s rockin’ new Total Money Carnival.
4 Ways We Keep Wasting Money was included in the Festival of Frugality.
Living the XBox Life on an Atari Income was included in the Carnival of Personal Finance.
Swamp Finance was hosted by Squirrelers.
I ran the guest post, The Best Financial Advice I Ever Received for Saving Money Today.
Thank you! If I missed anyone, please let me know.
Get More Out of Live Real, Now
There are so many ways you can read and interact with this site.
You can subscribe by RSS and get the posts in your favorite news reader. I prefer Google Reader.
You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.
You can ‘Like’ LRN on Facebook. Facebook gets more use than Google. It can’t hurt to see what you want where you want.
You can follow LRN on Twitter. This comes with some nearly-instant interaction.
You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of. I promise to reply to any email that isn’t purely spam.
That’s all for today. Have a great weekend!
Saturday Roundup – Dirty Beggar Edition
I have a favor to ask. Free Money Finance is running his annual March Money Madness blog contest. Please drop by and vote for me. Just comment with “Game 6: Bags”. Thank you!
Starting next week, my roundups will be happening on Sunday. I weigh in on Saturday, and that just makes me feel rushed on Saturday mornings.
Free Money Tip
INGDirect is having a sweet promotion. Open a checking account, use it three times in 45 days, and get $50 free. Free money is the best kind. I love my ING account and keep all of my savings there. If you don’t have an account there, yet, now is a great time to open one.
30 Day Project Update
This month, I am trying to establish the Slow Carb Diet as a habit. At the end of the month, I’ll see what the results were and decide if it’s worth continuing. For those who don’t know, the Slow Carb Diet involves cutting out potatoes, rice, flour, sugar, and dairy in all their forms. My meals consist of 40% proteins, 30% vegetables, and 30% legumes(beans or lentils). There is no calorie counting, just some specific rules, accompanied by a timed supplement regimen and some timed exercises to manipulate my metabolism. The supplements are NOT effedrin-based diet pills, or, in fact, uppers of any kind. There is also a weekly cheat day, to cut the impulse to cheat and to avoid letting my body go into famine mode.
I’m measuring two metrics, my weight and the total inches of my waist , hips, biceps, and thighs. Between the two, I should have an accurate assessment of my progress.
Weight: I have lost 20 pounds since January 2nd. That’s 3 pounds since last week.
Total Inches: I have lost 10 inches in the same time frame, down 1 since last week.
That is kind of a disappointing week, after losing 17 pounds in the two previous weeks. Still, it’s progress. Should I blame it on getting sloppy with the supplements and timed exercise, which aren’t(technically) necessary, the vagaries of losing weight, or the fact that I(gasp) had some feta cheese on a salad yesterday(Dairy is out, but I didn’t recognize it until it was too late and I was happy.)? I’ll go with B. Weight loss is never completely consistent.
Best Posts
If some puny little constellation can mess up our zodiac signs, what will a second sun do?
Everyday Tips and Thoughts ran a post on cell phone etiquette. I agree wholeheartedly with the bathroom talkers. I’m in there trying to concentrate, and you’re yammering to your bank, or your girlfriend? Expect me to flush every 2 minutes.
Important question: what caliber for land shark?
Do you juggle too much? Project Happily Ever After explains the difference between balls that bounce and balls that break.
Buy Like Buffet is giving away an iPad.
LRN Timewarp
This is where I review the posts I wrote one year ago.
I wrote a post about saving money on health care. It’s still a good post, but the HSA/FSA rules have changed. Now, you need a prescription to stock up on OTC meds at the end of the year to spend out your account.
When you buy something, do you ask yourself if you really need it? I wrote a post to help answer that question.
I also posted lesson 4 of my budget series. This is where I go over my “set aside” funds, the money for bills that are not regular or for set amounts.
Carnivals I’ve Rocked and Guest Posts I’ve Rolled
5 Things to Do in the New Year was included in Crystal’s rockin’ Totally Money Carnival. I’ll be hosting it in a couple of weeks.
Quit Smoking: My First Frugal Move…Ever was included in the Carnival of Personal Finance.
Thank you! If I missed anyone, please let me know.
Get More Out of Live Real, Now
There are so many ways you can read and interact with this site.
You can subscribe by RSS and get the posts in your favorite news reader. I prefer Google Reader.
You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.
You can ‘Like’ LRN on Facebook. Facebook gets more use than Google. It can’t hurt to see what you want where you want.
You can follow LRN on Twitter. This comes with some nearly-instant interaction.
You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of. I promise to reply to any email that isn’t purely spam.
Have a great weekend!
Protection for your Loved Ones
This is a guest post.
Life cover insurance acts as a safety net to pay for a family’s expenses should a wage earner become critically ill or die prematurely. Life cover includes life insurance as well as disability, critical illness, mortgage and income protection insurance policies.
Importance of life cover insurance
In most families, at least one adult is a wage earner and uses their income to pay for necessities such as food, clothing and rent or mortgage. If the wage earner becomes disabled, too ill to work, or dies, life cover insurance can pay for these expenses.
Stay-at-home parents provide valuable, though unpaid, services to the family. Without that person, the family would have to pay for childcare, household upkeep, errand running, and every other chore the stay-at-home parent did. If the stay-at-home parent has life insurance, these expenses can be covered.
Life cover insurance can pay off mortgages and education loans.
Live cover insurance policies will pay funeral costs, which can be substantial.
Family owned businesses can be insured and protected if the owner dies.
Objections
Life cover insurance is too expensive.
Insurance companies have plans to suit every budget and life circumstance. While young and healthy adults will generally receive the most affordable policies, older adults have plenty of reasonably priced options as well.
Disability or severe illness is unlikely.
Actually, 32% of men and 25% of women, ages 40 to 70, will experience a critical illness or disability. http://www.healthinsuranceguide.co.uk/statistics_mainbody.asp
Discussing disability or death is awkward and uncomfortable.
Agreed, but avoiding the topic puts loved ones into economic jeopardy. Without the wage earner’s life cover, a family could lose their home and have to lower their standard of living.
Variety of life cover insurances
Life Insurance
Term insurance is a protection policy, paid for during a specific time period (term), and is active during that time only. Permanent, whole, variable, universal and universal variable life insurance policies all are investment policies. They combine a death benefit (the amount paid out when the insured person dies) with an investment account. Licensed and experienced life insurance agents can help individuals make the best choice for their life situation.
Critical Illness/Disability Insurance
This type of insurance pays for living expenses if a person is diagnosed with a serious illness or disabled and can no longer work.
Mortgage Insurance
This is paid when the mortgage owner dies. This could help prevent the surviving family from having to sell the home.
The time to buy life cover insurance is now!
A 2010 survey (http://www.prnewswire.com/news-releases/ownership-of-individual-life-insurance-falls-to-50-year-low-limra-reports-101789323.html) stated that individual life insurance ownership was at a 50 year low in the United States. An estimated 35 million (30% of households) Americans do not have life insurance, and 11 million of these households have children under 18. Already living paycheck to paycheck, any debilitating injury or death of a wage earning adult could spell financial disaster to the family. Buying life cover insurance is a vital part of caring for loved ones. Just as a wage earner provides a home, food and daily necessities for their family, life cover insurance can take over and provide for the family if the wage earner unable to do so.