Many say that a baby is a blessing, but as new parents can expect, having one isn't exactly cheap. With August touted as the month for most births in the United States, a new study has outlined the best and worst states to actually have a baby.
Financial site Wallet Hub took into account the different costs and expenses to having a baby in coming up with their study. High up on the list are doctors' fees, medical and hospital bills, while factoring in health care coverage, which can vary depending on the plan. Families without maternity insurance might also have to shell out more for medical expenses, which ups the cost of having a baby as much as three times the regular cost.
The study also looked into the cost of baby necessities that families have to prepare or stock up on as soon as the baby arrives. These include crib, strollers, car seats, diapers and baby food or milk, especially if the mom is not breastfeeding. These types of expenses are described as "ongoing costs," per SI Live.
Expecting a #baby? Find out which states are friendliest toward your wallet and #pregnancy: https://t.co/7egehZVTmo pic.twitter.com/ShCx8EBmPm
— WalletHub (@wallethub) August 8, 2016
Based on the results of the study, here are the five best states to have a baby:1. Vermont
2. Maine
3. Connecticut
4. Minnesota
5. New Hampshire
These are the five worst states to have a baby, according to the overall ranking:
51. Mississippi
50. Louisiana
49. Alabama
48. New York
47. Georgia
Interestingly and perhaps surprisingly, while New York is one of the United States' most progressive, it ranks as the fourth lowest state that's ideal to have a baby. This could be attributed to the generally high cost of living in the state, thus affecting delivery costs. However, it also lags behind in infant care and child care compared to Vermont. The latter state also scores low on delivery costs, but it is ranks as the first in infant care and child care.
What this study highlights is that it should take a lot of thought and care before parents decide to bring a baby into this world, especially when it comes to finances. Did your state rank high or low in this study? Share your thoughts in the comments!
