I read yesterday...

[toodycat]

My little guy has been expensive from the git-go. Adorable, but expensive. I couldn't breastfeed---found that out after sinking over $1000 into a lactation consultant and he was soon drinking close to $200 per month in formula. My guy turned out to have special needs and require a lot of non-insured medical care....roughly $20,000 per year in doctor's bills for the last 12 years. However, the progress he's made as a result is amazing. Bottom line: Hope for the best, budget for the worst.

 

[disney1990]

My DD just completed her freshman year at a state university. Tuition was $7500 for the year (luckily she has several scholarships) she commutes but if she lived there it would be another $7500 for room and board. Multiply that by 4 or 5 years plus books plus tuition increases yearly that makes it over $60,000! And these are current numbers not the amounts for 18 years away for someone who has a baby. I think the $200,000 is too low. If you think your child is expensive as a baby it gets much more expensive as they get older! Clothes cost more, plus dances and proms, cars and ins and then that biggie COLLEGE! But in my book it is all worth it!

The OP said to raise a child to age 18. Therefore, this doesn't include the cost of college. That would be over and above the initial $200,000 cost. But, I know that I have definitely not spent that much on our 2 DDs.

 

[maraki527]

all i know is that I spend $600 a month in childcare, 4 cans of formula a monts at 23.99, and a case and a half of premade bottle for the sitter at $35 (for the case) 1/2 case &18 not including diapers or wipes or any other extras.

 

[andrews_dad]

all i know is that I spend $600 a month in childcare, 4 cans of formula a monts at 23.99, and a case and a half of premade bottle for the sitter at $35 (for the case) 1/2 case &18 not including diapers or wipes or any other extras.

And then there are costs of clothes, toys, vitamins, rash cream, co-pays for Dr's visits which come often with shots and sick visits, Dreft, sunscreen, baby furniture, boppy, diaper genie, .... you get the idea. It is the best thing in the world, but it AIN'T cheap to raise a baby or child.

 

[maraki527]

Exactly......Its always something new lol...I love my little girl though.

 

[MELSMICE]

I would say that's low, if they consider room and board expenses. There are school fees for private schools that cost more than that. Also fees for music lessons, sports, dance....the list goes on!

Seems low to me also.

Remember...this is an average & they are averaging it out over 18 years. Different families incur different costs. Think of insurance costs, dr. visits, clothes, food, entertainment, etc.

Children are very, very expensive!!!!!!!

 

[derocas]

My little guy has been expensive from the git-go. Adorable, but expensive. I couldn't breastfeed---found that out after sinking over $1000 into a lactation consultant and he was soon drinking close to $200 per month in formula. My guy turned out to have special needs and require a lot of non-insured medical care....roughly $20,000 per year in doctor's bills for the last 12 years. However, the progress he's made as a result is amazing. Bottom line: Hope for the best, budget for the worst.

Had a similar experience with the breastmilk. The only difference is my guy was allergic to almost all formula and needed this stuff called Neocate which at the time added up to around $1200.

Hope for the best, and yest budget for the worst!

 

[patsal]

Wow, that number actually sounds low to me! Two pre k's in daycare would eat up $1200 per month leaving very little for the other necessities. Plus public college,no dorming requires a commute--depending upon where (no bus route) and that is already like $8000 per year plus fees and books. I'm going with those numbers are too low.

 

[Piglets Mommy]

I'm thinking that is low...I guess since it is a national average it may actually be right on, but I spend $900/mo for daycare for DD alone. DS is in 3rd grade, so we don't have the childcare expense for him, but there are sports, camps, Dr. co-pays, meds, field trips etc. It adds up...fast. I think it's so worth it, but it's definately not cheap!

 

[CyndiLooWho]

It is very expensive to raise a child, but we don't all do it the same.

I had daycare expenses of $125 per kid per week when I worked. That was almost $1000 ea month, not including food, clothes, medicine, or dr visits. Add in the intangible expenses like needing a larger house, using more water and electric, buying a bigger car, and the money adds up very quickly.

Now that my boys are older, there are activity fees, sporting equipment, book money, and things like paying adult prices b/c one of them turned 10. Not to mention how much food cost goes up when the kids are eating twice their body weight each week, even if it's just bread, pb, milk and cereal that you're buying.

Yes, SAHPs mean no daycare costs, but on AVERAGE, I'd say the cost they show is pretty close.

 

[Resseda]

I will echo others that I suspect this figure includes room and board. You can cut corners all you can, but sooner or later, you still have some version of mortgage/rent, utilities, clothes, groceries etc. I too find the $900 low. You many be well over that in the diapers-formula age, but I don't think, once mortgage/rent, groceries etc are figured in, you probably ever drop too far below the $900.

As I tell any friends who tell me they are wiating to have children until they can afford it...most people can never really afford children .

Ress

 

[8esther8]

Well, I have 3 teenage boys; if you stay at home during the preschool years, breastfeed, and send your kids to public school/college, I can tell you it won't cost anywhere near that. I bought almost all their clothes at garage sales when they were younger, and my kids are/were very healthy. It all depends on priorities and what life (God) hands you. It doesn't *necessarily* have to be that expensive.

 

[a1tinkfans]

I would say that's low, if they consider room and board expenses. There are school fees for private schools that cost more than that. Also fees for music lessons, sports, dance....the list goes on!

Geez, I just spent 1200. alone on a guitar this past weekend...kids are Expensive...........

 

[disykat]

I would say, depending on how you figure "costs" that it's more for most people. However, not all of it comes out of your pocket.

As others have pointed out, bigger homes, bigger cars, etc. to accomodate the kids figure in. I think having a SAHP also figures in. I stayed home only because of the kids. Technically, staying home "cost" me my annual salary for many years, lost retirement, etc. That was the "price" we paid for not paying daycare.

If you are talking about what we spent, we are very frugal, so it would be less. However, if you add in the other financial sacrifices we made because of our kids, it would be way more.

Worth every penny and I wouldn't change a thing!

 

[Colleen27]

Generally those numbers are based on buying everything new (and not the cheapest brands), formula feeding, using daycare, and a lot of other expenses that can be avoided depending on your lifestyle choices.

 

[koima]

As others have pointed out, bigger homes, bigger cars, etc. to accomodate the kids figure in. I think having a SAHP also figures in. I stayed home only because of the kids. Technically, staying home "cost" me my annual salary for many years, lost retirement, etc. That was the "price" we paid for not paying daycare.

Exactly. My kids are small (3.5 yo and 9 mo) and I don't spend a lot now, but I'm a stay at home mom and that is costing me $36,000 (my previous salary), plus health insurance and 401k. If I went back to work, I'd be paying for daycare for an infant and preschooler, which is cost prohibitive. Full time preschool in our area is $1000 a month. Full time infant care is even higher.

If we didn't have kids, we could rent a 1 bedroom apartment for significantly less a month; instead we rent house with extra bedrooms for kids. We got life insurance when we had kids, so there is another $200 a month. I spent almost $1000 trying to nurse both babies, and then money on formula when it didn't work. We've spent almost $1000 on medical care for my 9 month old daughter, who is relatively healthy; my son needed medical treatment when he was a baby that cost $3000 out of pocket. He'll need further surgery that will cost a few grand at least. This is in addition to the money we spend on health insurance each month. DH owns his own business and covers me and the kids with health insurance from the business. If it was just us, it would be $400 a month less.

Those expenses aren't the "stuff" of kids - clothes, furniture, and toys and such, that I get super cheap and hand me downs - but the cost of kids is certainly as high if not higher than those estimates.

Even being frugal and without factoring in extras like sports, music, vacations, field trips, etc. it is not cheap.