Comments on: You say it costs $204k to raise a kid? I’m not buying it

By: Kacie

Kacie — Mon, 31 Mar 2008 19:46:46 +0000

You’re totally right.

Right now, my husband and I are on our first health insurance plan that isn’t our own parents’.

We really lucked out, as his employer has a really affordable plan.

Unfortunately, that’s not the case with many people.

I consider myself very blessed.

By: paidtwice

paidtwice — Sun, 30 Mar 2008 17:32:01 +0000

@ Kacie - your health plan sounds nicer in out of pocket costs than ours.

unfortunately, since health care is tied to employers in most regards here in the US - we don’t have a less expensive choice to make in that regard. it isn’t about being frugal or not, it is about the reality of my spouse’s employers options. Many people have similar (or worse) options.

the 204K number is an average - I say we’ll spend less, but not so much less as I’d like. :) And 204K seems HUGE until you look at per month or per year costs, it isn’t 204K at once. :)

By: lori

lori — Sat, 29 Mar 2008 12:14:44 +0000

I have to agree with Jenny. We do all of those things with our son (except we do bath him every day as part of our bedtime routine). All of Goose’s new clothes are gifts from generous loved ones and all the clothes we buy come from the thrifts or yard sales. I used to think doing this was gross, but we have actually found brand new name brand clothes(as in Carter’s, Gap, Children’s Place, etc) at yard sales. In fact as I type this my husband just walked in the door with a bunch of like-new toys he found at a yard sale this morning for 2 bux! Go hubby!!

By: Kacie

Kacie — Fri, 28 Mar 2008 20:01:18 +0000

Castocreations–I agree.

PaidTwice–I was curious how much we could expect to pay in medical expenses under our current HMO. It would be $280 on our end for prenatal visits and delivery, assuming no complications. We’d pay that via our flexible spending account, so that wouldn’t affect our monthly budget at this point. I have to look up the figures on how much we’re paying each month for health insurance, but it isn’t excessive, from what I remember (thankfully).

EC- great point about housing. All the more reason to buy a house you can afford, and pay it off asap!

@ everyone who says kids just get more expensive–especially teens, I have to agree. Teenagers can be insanely expensive!

I like the way Debt-Free Revolution is giving her son a budget for his food expenses.

If my kids ever want a designer (or overpriced) outfit that exceeds our clothing budget, they can get a job or get over it. I’m unsympathetic in that regard. I know, I’m a meanie :)

By: mom_of2boys

mom_of2boys — Fri, 28 Mar 2008 16:58:30 +0000

200K for 18 years? I’ll take it. In daycare alone for my 8 year old, I have paid more than $50K in daycare expenses along. If you tack on the medical, food, clothing, activity fees, diapers, formula and school fees (to name a few expenses), I have probably paid more than half the 200K already.

By: Elizabeth Sue

Elizabeth Sue — Fri, 28 Mar 2008 12:43:28 +0000

Kacie, it is very refreshing to hear someone like yourself who doesn’t have kids not buy into all of the doom and gloom that people try to prodject onto parenting. Take it from me, who would know first hand: My husband is still finishing his business degree, we have a toddler, and I am a stay at home mom who is just breaking into the frelancing writing business….IT CAN BE DONE! Having a child and not living under a bridge. Great to hear you have a postive perspective! Take Care.

By: E.C.

E.C. — Fri, 28 Mar 2008 04:26:56 +0000

I don’t have kids, but I think the USDA methodology has flaws. For instance, my parents bought a house when I was in preschool and paid it off when I was in junior high. So the USDA would consider 1/4 of what my parents paid for the house an expense associated with raising me and 1/4 an expense associated with my brother. In practice, they probably wouldn’t have been living somewhere half as expensive if they hadn’t had children, and now that my brother and I are over 18 they still live in the house and benefit from that expenditure.

By: Around the PF Blogosphere: March 27, 2008 | The Suns Financial Diary | A Personal Finance Blog on Saving and Investing

Fri, 28 Mar 2008 02:56:02 +0000

[...] How much do you think it will cost to raise a kid to the age of 18? I don’t know exactly, but it could be a lot. Sense to Save cited a U.S. government report as saying to cost could be as high as $298K in 2007. [...]

By: Brip Blap

Brip Blap — Fri, 28 Mar 2008 02:47:26 +0000

Stuff hammers you out of nowhere, too. My son is a bruiser - almost 11 pounds when born, and very tall and big for his age (2). He was born almost completely lactose intolerant, meaning we had to ditch breastfeeding (my wife’s plan) and switch to a very, very expensive non-lactose formula called Alimentum. It’s $25 per can, and a can makes maybe 3-4 days of bottles for a big growing boy. So there’s another $2500 per year that we didn’t expect.

We use hand-me-down clothes and toys, but it’s the big ticket stuff that kills you: a two-day hospital stay for a virus, part-time day care for $700 per month, formula, etc. It get expensive quick. That’s why I’m giving my son until he’s 10 to start working. That’s still legal, right?

By: Debt Free Revolution

Debt Free Revolution — Fri, 28 Mar 2008 01:59:14 +0000

I agree with Ron. The baby years have NOTHING on what the teenage years cost! And Ron: just wait til your precious little boy becomes a teenager and eats anything that doesn’t run away from him fast enough. My 14yo son is trying to claim $35 a week to feed just him is not nearly enough. (That’s $140 per month, which hubby still thinks is too high)