How much does it really cost to raise a kid?

Question

My new husband and I would like to have a kid and he has concerns that it will cost a lot of money. The only calculators of cost from birth to 18 years I seem to be able to find are all based on the same survey. They include "housing", "transportation" etc. But, come on....we aren't going to upgrade our house or buy a new car for our unborn child...I am realistically trying to find out what it would cost to actually raise a child. Any help would be appreciated.

Answer 1

about fourtyfive thou intil 18 another 120000 after colege.

Thats cheap if you live in

NH if your in California even more.

Answer 2

I read once that the average parent(s) spend about a million dollars until their child is 18. Thats including college too.

There are parents who spoil their children too.

I live in California.  

Answer 3

I have only raised mine for 2 and a half years so far, and haven't found it to be very expensive thus far, the things that ad up the most are diapers and daycare/activities, at her age she barely eats anything at the moment. I think the most costly part of raising a kid will be if you choose to send them to private schools in the future. I'm not worried about it honestly, everyone manages with what theyve got.

Plus I live in Australia, where kids pay for their own university education after they have graduated and are working full time, so I would say it is cheaper here. Also it really depends on your lifestyle choices.

Answer 4

It just depends on what you buy! Some of those figures I've seen listed are crocks of bull. You can raise your child just fine without being rich!

Answer 5

in today's world everything is going up, you see it everyday gas, clothing, food , housing ect..  it depends on how much you and your hubby make. does multiable birth run in your family, if so the chances are you could have more than just one baby. But if not you don't have to worry about multiable kids. but back to the question at hand how much from birth to 18 years old figure about on an average 20,000 per year after 18 years that's about 360,000 now that's just average, if there is any medical problems the baby need special formula those cans of formula aren't cheap there about 7-9 per can medical insurance. so to have a kid yes its very expensive. we had our first kid in 1997 and i was making about 50,000 and we lived in a small apartment, and yes we upgraded to a larger one. you always want the best for your kid so your going to spend the extra money. But if you have family to pay for it then there is nothing to worry about. Just think it over before you get yourself into it before you cant get out. hope this was helpful.

oh we have two kids now and my pay has double since then and its still expensive,  

Answer 6

I came up with a simple formula to calculate what it took to raise my kids. Here it is.

Your gross annual income X 100% equals the cost of raising kids. If you are divorced adjust the percentage to 150%.

Either scenario add in gray hair and blood pressure medicene.

Answer 7

Okay.

18 years...

I don't know at all how much it takes to raise a child, but my guess is somewhere between 75,000 and 150,000 depending how much you buy for your child. (as in unnecessary items)

I've heard it takes about 120,000 for the average child from birth to age 18.

Sorry if I didn't help.  

Answer 8

It can get expensive....there are ways to cut costs though...used clothes or hand me downs are great because they grow through them so fast or get them dirty...diapers can get expensive but it's not too much of a burden..food will start costing a little more, you will have to buy for 3 instead of 2, but that 3rd meal can come out of all those leftovers!  The first few years can get expensive, expecially with formula, my daughter went through about 5-10 cans a month during her first year, at about 13 dollars a can...plus all that baby food you have to buy.  As long as you aren't already scraping change between the two of you, I say go for it!  Good luck!!

Answer 9

I know. I've seen some of those figures and laugh. I have 5 kids and I highly doubt I spend $300,000 on 1 child in 18 years. The catch with those is most of those websites are trying to convince teens to wait to be moms.

Anyway, here's something that is crazy though. Let's just say you spend $25 a week on food/drink for your child (which in reality is probably less then what you would spend). That's $1,300 a year. For 18 years thats $23,400. Crazy how much we spend on just food! Anyway, hope I helped a little! Sorry I don't know the real answer, but that's part LOL

Answer 10

I think I read somewhere that it costs roughly $250 000 for basics over the 18 years

Answer 11

The cost of raising a child or a family is very costly. Children need the same things that an adult needs. Food, a roof over their head, health care, education, entertainment, and it doesn't end when they turn 18 either.

The benefits of having a child are priceless, but you have to be willing to give of yourself to provide security, love, moral support and anything else that that particular child needs.

Answer 12

i will be honest with you. in these times with so much technology and gadgets kids want it is expensive. at times you have to cut corners to make ends meet and you will wonder where in the heck did all of the money go? it's not hard being a parent, i find it if you teach the child the value of the dollar and how to earn it they grow up better.

one more thing, you never stop being a parent. just because they are 18 doesn't mean your duties are over, it never stops. it's a lifetime job, but well worth it.

Answer 13

With our economy..... a lot.  

Answer 14

its really hard to say I'm not going to lie its allot but u can always manage I'm only 25 and I'm a single mom of 4 and i been managing to do it my oldest 7 youngest 2 its Worth the money in the long run