You might be asking what it will cost you to raise your new little one. From medical expenses to loads of diapers, the cost of a child can really add up. The USDA polled parents to learn the average cost of having a child to help you and your family prepare for baby�s expenses.
Housing expenses include rent, insurance, taxes, repairs, utilities, and furnishings. Repairs, utilities, appliances and furnishings are the items that will most likely be the expenses that will increase due to the increased use with an additional family member.
Food costs include all food and beverages bought to feed your child. This also includes eating out at restaurants.
Transportation expenses include automobile insurance, gas, and automobile repairs. You will be driving your vehicle a lot more now that you have children. You will be taking the kids to school, baseball games, dance classes or other events and activities.
Clothing expenses include shoes, clothes, and diapers for the child.
Health care expenses include health insurance premiums, medical and dental expenses, medical supplies and prescriptions.
Child care and schooling expenses include daycare, baby-sitting, tuition and books and supplies for school.
Lastly, miscellaneous expenses include entertainment, personal items and books.
As you can see, the cost of raising a child can add up to be a fairly good-sized mortgage. It is great that you are planning for these expenses. One of the best ways you can plan for these expenses is by budgeting for them.
Although it will cost a good deal of money to raise your child, I am sure you will find that every penny is worth it!
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As an experienced father (of eight), Chris Dunn likes writing articles relating to birth for his
pregnancy website.
