Baby Balance Sheet: A Family of 5 Living in Newport, Rhode Island on $75k
How this family manages their money as a one-income household.
More women are leaving the workforce because of the cost of childcare, which is rising faster than inflation. According to new data from Catalyst, a nonprofit focused on women’s advancement in the workplace, 42% of women cited caregiving responsibilities—including the cost of childcare—as the number-one reason they left the workforce in 2025.
Our latest edition of Baby Balance Sheet features a stay-at-home mom who decided to leave the military in part because childcare for her two children was so expensive. Her husband is also in the military, so they move every few years for his work.
The family welcomed a third baby earlier this year, and the postpartum experience has been much better for everyone. Recovery has been easier in part because her husband was able to take a full month of paternity leave. They also invested in some affordable conveniences, including signing up for a meal delivery service so they don’t have to worry about providing healthy meals for their kids.
Read on to see how this family of five are spending, saving and managing their money.
About me: After a stint in the military, I left three years ago to be a full-time stay-at-home mom. My husband is still in the military, and we move every few years for his job.
Age: 27
How old are your children: 6 and 4 years old, and 3 months
Where do you live? Newport, Rhode Island
What is your family household income? $75,000
Did you have a savings goal before your baby arrived or are you working toward one now? Before I left the military, I sold my remaining leave (worth about $500), and I focused on getting ahead on our debt payments. My husband focuses on our savings accounts, and I contribute occasionally when I can. Even before we became a one-income household, we’ve been focused on reducing, reusing and recycling. We move every few years, so we’re focused on underconsumption. We like to choose sustainable options and buy higher quality gear.
What kinds of financial tools (or tricks!) are you using to help reach your savings goals? We use automatic bill pay and monitor our account balances daily.
When it came to our baby registry, we specifically asked for boxes of diapers and wipes, so that was one less monthly expense we needed to worry about. We also take full advantage of our Costco membership and slowly built up a diaper and wipes stash.
Are you setting up any savings accounts for your baby—like a 529, custodial account or something else? If yes, what kind of account(s) are you using? We have CDs with our financial institutions.
If you already have kids, will you do anything different financially this time? It might seem like a small thing, but we signed up for Factor, a meal-delivery service. It’s been really helpful not to have to worry about cooking and feel good that my family is getting nutritious meals. We tried Hello Fresh for a while, but the recipes were too much work for my husband to handle. (I’m usually the cook, but he stepped up after I had the baby earlier this year.) We didn’t have to buy a lot of new things for this baby because we already had two kids. I believe in the motto: “Buy it nice or buy it twice.” We have a nice travel system (car seat and stroller combo) from our first child, and we’re still able to use it with baby number three.
Are you receiving any family help for paying for baby expenses?
Our families will fly in from time to time to help out with childcare when we need extra support. They’ll watch the kids so my husband and I can get the occasional weekend away or attend a work event. They won’t let us cover the cost of their travel, but we’ll take them out to dinner as a thank you.
When it comes to money, what part of having a baby (or raising a kid) feels most stressful? Before I became a stay-at-home mom, most of my paycheck was going to pay for childcare. I’d only have around $500 leftover each month for other expenses. It’s tough to have two parents in the military. The hours are crazy. We just didn’t have the quality of life I wanted. It was a little overwhelming at first to become a stay-at-home mom, but now that I’m getting into the groove of things.
Can you share how much you spent on your baby/children in the last month? Childcare: N/A. Myself or family
Diapers and wipes: still have a stash
Formula: Breastfeeding and pumping. Pump and milk bags are covered by our health insurance.
Extra pump parts (for convenience): $55.63
Canopy filter subscription: $18.73
Car wash subscription: $37.99
Outdoor play table: $164.80
Supplemental educational things: $76.45
Kids cups: $21.99
Factor meals (2x a month): $445.80
Groceries: $400
Takeout: $891.60
How much do you discuss the cost of raising a baby with your partner?
We discuss it all the time. We’re always planning something. We do keep our accounts separate. We have a joint account from when we paid for childcare, and now it’s being used for automatic payments to our car. My money is mine, and his money is his, but we still speak often of our expenses but also never argue, blame, or criticize each other on our money choices.
