If you are contemplating taking a plunge into the millennium baby pool, it is worth taking time to think about the costs associated with having a child this year.

The millennium craze is likely to produce a baby boom and put pressure on all child-related services. Already scarce childminder and creche availability means prices will skyrocket when demand outstrips supply as millennium babies enter the nursery. The alternative of one parent staying home to mind the child is not an option for many couples.

After childcare, add on the cost of nappies, food, clothing, doctor's bills, toys, prams and other miscellaneous items and baby new year may be out of reach for the moment. On the other hand, who's planning?