You've always dreamed of having a baby and how great it would be to add to your family. It's a beautiful dream, but it can also be an expensive one.

According to Redbook, and reported at, the expenses you'll experience in the first year of the child's life can be substantial. The numbers in this report are national numbers I believe, meaning the cost could be even higher here in the great Garden State.

Let's start with just essential supplies. We're talking about everything from diapers and onesies to car seats and strollers, the total cost for the first year...$3989. That's a quick $4000 and that's just for the "essentials".

If you are a career person and a parent, you know the big financial cost of childcare. If you base it on a nanny making between $15 and $20, you're talking at least $30,000 a year. Ouch.

And dare we say the word "college"? Experts say if you start early, you can do it. But it does mean saving a couple of hundred dollars a month or more to be able to get it done. That's at least another $2400 in the first year.

By my math, just these categories alone run up a bill of close to $40,000 and that doesn't even come close to covering everything. So get ready to live the dream...and get ready to start saving!