shape
carat
color
clarity

Cost to raise a kid now ... $241,080

kenny

Super_Ideal_Rock
Premium
Joined
Apr 30, 2005
Messages
34,600
Holey Moley! :o
How do you parents afford it?

NEW YORK (CNNMoney)
From day care to the monthly grocery bill, the cost of raising a child is climbing at a rate that many families can't keep up with.

It will cost an estimated $241,080 for a middle-income couple to raise a child born last year for 18 years, according to a U.S. Department of Agriculture report released Wednesday.
That's up almost 3% from 2011 and doesn't even include the cost of college.

More ... http://money.cnn.com/2013/08/14/pf/cost-children/index.html?hpt=hp_t2
 
ha this explains why I am broke :lol: I got one raised, who by the way at the age of 27 moved back home and I have a 16 year year old that is about to kill my budget!!!!
 
I have two sweeties.

Think of the diamonds I could get for $500k!!

:)
 
Didn't we already have this thread?

I really doubt it is under 300K. We are planning/ budgeting closer to 900k per child with everything (heath insurance/ camp/ college/ hobbies/ cars/ the list goes on). If it were only 200k I would have had another kid.
 
I have 3. Two still at home. For what we paid/will pay for college alone, it will be more than double that. And the first 18 years were not cheap either.
 
Hmm, $241k over 18 years is $13,388 a year or just over $1,100 a month. Right now, we spend just about that amount (maybe $100 more) on our little dude (just turned a year old). The majority of that is daycare ($877), which gets less expensive as he gets older.

Maybe I'm being optimistic, but I don't see it costing that much every month until he's 18.
 
Amc,
It does get more expensive as they get older; there's sports teams (soccer, swimming, tennis, etc), music lessons (band or private), art lessons, summer camps, and their associated costs (fees, uniforms, gear, etc). They also eat a lot more as they get older. Some children go through clothes and shoes like crazy too. I know mine do and they are high quality items but apparently still aren't robust enough with holes at the knees and soles every few weeks.
 
My [step] son is 17.5 and leaving for college in two weeks. To date, $120,00 has been spent on his education alone :?
 
Chrono|1376518608|3503184 said:
Amc,
It does get more expensive as they get older; there's sports teams (soccer, swimming, tennis, etc), music lessons (band or private), art lessons, summer camps, and their associated costs (fees, uniforms, gear, etc). They also eat a lot more as they get older. Some children go through clothes and shoes like crazy too. I know mine do and they are high quality items but apparently still aren't robust enough with holes at the knees and soles every few weeks.

I guess I'm just thinking back to when I was a kid...there's no way my parents spent $1100 a month on me (or whatever the equivalent was back then). I mean I can totally see how it COULD add up to that amount, but it doesn't seem like it HAS to. For example, the local soccer league (AYSO) is $90 for the season. If he were on a traveling club team that would obviously be a much higher cost.
 
True, such activities are not a must but a nice to have.
 
I think it depends on what you do for those 18 years and where you live.

My mom bought the cheapest food out there (often stuff past use by dates or dented), no tutor, no after school activities that had any fee, no big field trips, no camps, thrift stores, hand-me-downs, and K-mart/walmart, etc.
I can be pretty certain that she didn't pay anywhere near that number for me or my brother. Especially if you factor in that I bought all of my own groceries starting in high school.

With "A", it will be vastly more than that number. We've already done $100,000+ in private school, $150,000 in "child support", $10,000 (roughly) to set up two different bedrooms for her (once at 7 and again at 13) and so much more. (Not to mention the $100,000 we paid an attorney over 8 years to get her out of a bad situation)
We're paying (and anticipate continuing to pay) $230/month for tutoring and $4,000+/year in camps (3 weekends, 1 week in NY, and summer camp).

Clothes are expensive. We don't buy name brand. I aim for quality that will stand up to wear but not super expensive as she is still growing. In the last year she has gone through 3 pairs of boots, 3 pairs of tennis shoes, 2 pairs of sandals and a couple of pairs of dress shoes. (I calculated the other day and she's been averaging about $50/month on shoes alone with another $200/month or better in clothes)

Medical expenses are mostly covered by the insurance (as a minor her coverage is included at no extra cost) but there is co-pay and deductibles to deal with. We've been doing $100 every 2-3 months for weight monitoring alone. Plus dental expenses and vision (contacts are $1,000/year beyond what insurance will cover!).

Food isn't much as we cook at home anyway and cooking for 3 is only a bit more expensive than for 2. I'd estimate it at an extra $300-400 per month depending on what I'm cooking.

Plus all the other stuff that adds up here and there -- birthday gifts (to her and also to us from her), days out with friends, feeding her visiting friends, fine for breaking school computer, year book, ASB membership, after school sports, hair cuts, misc supplies (Sonicare toothbrush, toothpaste, feminine products, razors, etc, etc...)
 
I have a toddler and spend a lot more than 13k/year on childcare alone so it'll be much more than quarter million to get to college. It's just impossible to spend less in my area and work full-time. I'd say our monthly expenses went up ~25% when we had a child. I could've had a super-duper diamond if not for all of the child expenses :$$):.
 
Why didn't you tell me earlier... :Up_to_something: like 27 yrs ago.. ::)
 
So....4 thru private school from preschool to college, over 1 mil I'm sure! Dang I could have had a grand diamond!
 
No, thank you! :errrr:
 
I'm not sure how accurate that number is...

There are so many factors, like for example what kind of health insurance premiums a family has. We will pay over $50K for both boys (total) in monthly premiums alone for dental/health before they graduate. One person I know pays half the amount we pay for just our kids and that is for her entire family and another doesn't pay anything, so right there, is a clear example of a substantial cost difference. (And the price is going to change in a couple of months...I'm not sure what it will be.)
 
That seems awfully low, or my kids are ridiculously high maintenance because they play sports year round, at $200 per season, for 2 kids, and they have afterschool care, and they love to eat gourmet food, and at 11 and 9 refuse to eat at family restaurants that offer kids menus. I feel have I've paid that amount per kid already, and I'm only about half way to 18 years!
 
jaysonsmom|1376523286|3503281 said:
That seems awfully low, or my kids are ridiculously high maintenance because they play sports year round, at $200 per season, for 2 kids, and they have afterschool care, and they love to eat gourmet food, and at 11 and 9 refuse to eat at family restaurants that offer kids menus. I feel have I've paid that amount per kid already, and I'm only about half way to 18 years!

People under-estimate the cost of activities, because, there's also travel & food expenses. My son joined a club and I'm not sure what the fee is yet, but he attended an event before the start of the season and I already was watching the costs add up.

And, same with food...my son won't eat junk food and I personally have a difficult time buying junk, so we pay more than $1000 for food each month. I can't imagine living off some of the items the grocery store calls "food." We'd sure save a lot if we did eat that stuff, but some stuff is just flat out 99% junk, like Pop Tarts. Are those actually food? lol
 
MC|1376523228|3503277 said:
I'm not sure how accurate that number is...

There are so many factors, like for example what kind of health insurance premiums a family has. We will pay over $50K for both boys (total) in monthly premiums alone for dental/health before they graduate. One person I know pays half the amount we pay for just our kids and that is for her entire family and another doesn't pay anything, so right there, is a clear example of a substantial cost difference. (And the price is going to change in a couple of months...I'm not sure what it will be.)

I think kids are an additional $60 a month on my plan...and that stays the same whether I have 1 or 10 kids. So I can see how more expensive premiums would really add up.
 
jaysonsmom|1376523286|3503281 said:
That seems awfully low, or my kids are ridiculously high maintenance because they play sports year round, at $200 per season, for 2 kids, and they have afterschool care, and they love to eat gourmet food, and at 11 and 9 refuse to eat at family restaurants that offer kids menus. I feel have I've paid that amount per kid already, and I'm only about half way to 18 years!
Get a refund!.. :bigsmile:
 
amc80|1376524677|3503302 said:
MC|1376523228|3503277 said:
I'm not sure how accurate that number is...

There are so many factors, like for example what kind of health insurance premiums a family has. We will pay over $50K for both boys (total) in monthly premiums alone for dental/health before they graduate. One person I know pays half the amount we pay for just our kids and that is for her entire family and another doesn't pay anything, so right there, is a clear example of a substantial cost difference. (And the price is going to change in a couple of months...I'm not sure what it will be.)

I think kids are an additional $60 a month on my plan...and that stays the same whether I have 1 or 10 kids. So I can see how more expensive premiums would really add up.

Yeah, all companies are different, but our rates keep going up and DH was looking at another company with better pay but our insurance with them would be $1000 a month and at that point, we probably would have purchased insurance outside of his employer. That is what we did with our life insurance policies b/c we wanted to be sure our kids would be taken care of and we found a better policy (though, we do pay more this way).
 
I don't know, somehow you just make it work. We have two kids and we're doing fine. I think we can afford a third! ;)
 
Laila619|1376526170|3503328 said:
I don't know, somehow you just make it work. We have two kids and we're doing fine. I think we can afford a third! ;)


Bless your heart. You couldn't pay me to be pregnant again! I was an evil human being when pregnant. It was so bad that my husband actually volunteered to deploy when we found out I was pregnant the 2nd time :evil: :rolleyes:

Edit for spelling
 
$241,080 spread over 18 years is only $36.69 a day ...
or $1.53 an hour ...
or 2.5 cents per minute ...
or 0.04 cents per second.

WOW!
Kids are such a bargain. :sun:
 
kenny|1376536535|3503468 said:
$241,080 spread over 18 years is only $36.69 a day ...
or $1.53 an hour ...
or 2.5 cents per minute ...
or 0.04 cents per second.

WOW!
Kids are such a bargain. :sun:


I've tried that argument for diamonds --- If I wear it 18 hours a day, 7 days a week for the next 60 years that works out to only....
 
TooPatient|1376543120|3503524 said:
kenny|1376536535|3503468 said:
$241,080 spread over 18 years is only $36.69 a day ...
or $1.53 an hour ...
or 2.5 cents per minute ...
or 0.04 cents per second.

WOW!
Kids are such a bargain. :sun:


I've tried that argument for diamonds --- If I wear it 18 hours a day, 7 days a week for the next 60 years that works out to only....

Now you're talking MY language, TP! :lol:
 
You can't put a price on love. I've never been happier than the first time I held my daughter, and every day I spend with her is bliss, dirty diapers, tears, and all. My heart feels like it will burst every time I look at her. The bond is THAT deep, and I really don't give a whit about how much it will cost to raise her. We will make do.
 
monarch64|1376552766|3503552 said:
You can't put a price on love. I've never been happier than the first time I held my daughter, and every day I spend with her is bliss, dirty diapers, tears, and all. My heart feels like it will burst every time I look at her. The bond is THAT deep, and I really don't give a whit about how much it will cost to raise her. We will make do.


+1 you can't put a price on hugs and kisses!
 
monarch64|1376552766|3503552 said:
You can't put a price on love. I've never been happier than the first time I held my daughter, and every day I spend with her is bliss, dirty diapers, tears, and all. My heart feels like it will burst every time I look at her. The bond is THAT deep, and I really don't give a whit about how much it will cost to raise her. We will make do.

SO TRUE!! I would spend every last penny I had on my kids, they are such joys!
 
GET 3 FREE HCA RESULTS JOIN THE FORUM. ASK FOR HELP
Top