This is how much a baby will really cost you in the first year.

It’s no secret that babies don’t come cheap. But exactly how much are we talking about in the first year?

In the latest episode of Hello Bump, hosts Monique Bowley and Bec Judd asked Westpac’s Jenny Melhuish to help crunch the numbers to work out what you need to budget.

The results were very interesting. (Post continues after audio.)

Listen to Monique Bowley, Bec Judd and Westpac’s Jenny Melhuish right here on Hello Bump. 

Melhuish, who has six year-old twins, says it’s hard to pin down a single figure but she normally advises between $3,000 and $13,000.

“It depends on whether you want the bugaboo or you’re prepared to get something off eBay,” she says.

“All I can say is given you’re not going out as much, you should be putting some of that money into a savings account.”

But there's a lot of costs you don't think about that can quickly add up.

"Nappies! Especially when you've got two," Melhuish.

"At our peak we were buying two boxes of newborn nappies a week and four tins of formula and that really adds up."

"Yes because formula is like $25 a tin so that's $100 a week on formula and it probably ends up around $100 a week on nappies," added Judd.

Lesson to new or soon-to-be parents? When you see nappies on sale, BULK BUY.

"One other thing you can do when you've got the time - which you won't have as a parent - is see what's on sale," Melhuish explains.

"I tell friends every second week when you're going down that new aisle, pick up some nappies, some wipes, you can never have enough wipes. I still have wipes to this day."

For a full breakdown, listen to the newest episode of Hello Bump.

This content was created with thanks to our brand partner Westpac.