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The unexpected costs of becoming a parent drive some into debt

On Behalf of | May 26, 2016 | Personal Bankruptcy

Welcoming a new child into the world is a joyous and momentous occasion. While holding a new baby for the first time can fill a person’s heart with joy, many North Carolina parents may not realize that having a baby can also leave their bank account empty. Even if efforts are made to put aside money before the baby is born, sometimes that cannot be enough to stave off going into debt reports Forbes.

For such tiny creatures, babies require an inordinate amount of stuff. Furniture for the nursery, a quality car seat and a stroller are just some of the gear that most parents purchase before the baby is born. Babies also need clothes, feeding supplies and a seemingly endless supply of diapers. If both parents choose to return to the workforce, the cost of child care can eat up a huge chunk of change every month.

Then there is the cost of childbirth itself. Even if the mother is insured, it does not necessarily mean that all costs will be covered. Out of pocket expenses for a hospital birth can be in the thousands of dollars and it is not always easy to predict what those costs will be ahead of time. According to WebMD, the cost for a normal vaginal birth is roughly $9,600 and a birth by c-section can start at $15,800. Depending on the mother’s health care coverage, she could end up being on the hook for some or all of the hospital charges associated with giving birth.

Since most workers in this country do not receive paid time off for maternity leave, parents are often hit with the double whammy of having no source of income at the same time they are incurring all of these baby-related costs. If there are no savings in place to fall back on, many parents end up putting these expenses on credit cards and driving themselves deep into debt.


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