BellaOnline Forums Family Moms How expensive are kids, really?

How did having a baby affect your budget/expenses?

DH and I were planning to start a family this year and I had intended to set aside about $2,000 for "start-up" expenses.

Honestly, I wasn't anticipating much of a change to our budget except for that. We figured in a college fund, but otherwise I was planning to breastfeed, use cloth diapers, and get most of my baby supplies and clothes from garage sales and thrift stores.

I was figuring between some supplies and maybe an extra co-pay or two that the baby wouldn't cost more than an extra $50-$100 per month. And I was figuring that would mostly be offset by the fact that we wouldn't be going out as much.

Am I in for a rude awakening?

[Feel free to have a chuckle if I sound like a total rookie. But make sure you set me straight!

It has been estimated according to UK statistical figures, thast to raise ONE CHILD from Birth to 17 years of age will cost �50,000 - that would be nearly $99.000.
And it doesn't stop there.... it depends on university education and other factors too...see the article link I have posted.

http://news.bbc.co.uk/1/hi/education/4003263.stm

Pockets? Yes please, loads. And deep with it.....

Don't forget to add in co-pays/full pays for doctor's visits (there are a LOT of these through age 5 for well checks, and then there's the fact that children are natural germ breeders and tend to either get sick quite a bit or bring home illnesses from other places), child care (even if you are a SAHM you're still likely to need this from time to time), increased utility expenses (if you're washing the cloth diapers at home, you're going to double or triple your utility costs), etc., etc., etc.

It is also perspective. I can't tell you a real dollar amount. But in raising kids we went from two incomes down to one. The first year was difficult, but after that with a change in the way we spent and what was considered priority. We be came better off, financially as well as emotionally, with a family in tow.

Paula has a very valid point. For some, there may never be enough money in the budget no matter how much the couple actually has coming in; for others, one small income is more than sufficient. Perspectives, lifestyle, choices, actions, etc. all come into play.

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