5 Ways to Save When You’re Starting a Family Newborns are a lot more expensive than many people think. If we all waited until we were financially secure enough to start a family, the human race would die out. OK, maybe I’m exaggerating a little, but even amid the current uncertainties, at least one thing remains true: Starting a family costs money. And if you’re not careful, you can end up in a lot of debt. The Baby Center has a first-year calculator to help you estimate how much you’ll spend in the first year alone. And when you figure in the ongoing costs of child care, future school tuition and the endless number of shoes they’ll outgrow in six weeks, it can really start to add up.