Guest Blog by: Midge
Let’s face it children can be budget breakers. When we were first contemplating having children, one of our main concerns was how we were going to pay for all of the big things like: the delivery room, the nursery room, and the fact that we just needed to “make room” for all of the baby groceries and diapers which would accompany our sweet little bundle of joy. According to this June 2012 article written by Sam Hananel, the cost of raising a child from birth to age 18 is now estimated at $235,000 which equals about $13,000 a year!
Mr. Hananel continues: “The cost per child decreases as a family has more children. The report found that families with three or more children spend 22 percent less per child than those with two children. The savings result from hand-me-down clothes and toys, shared bedrooms and buying food in larger quantities.”
But, I digress… the reason for writing this blog today is not because of the fixed expenses for housing, car, clothing or diapers. It is the unexpected expenses of having a child that sometimes catch me off-guard. For example, I now own this moose (see picture below) because my very cute, yet slightly unbalanced, toddling daughter knocked it off the shelf. It then hit another trinket as well and $35 later I was the proud owner of two slightly broken items. I am sure they will look great after I hot glue them back together and display them in our guest bathroom.
My husband looked at my slightly broken expenditure and raised his eyebrows… I said, “Don’t ask. Just write it down as an unexpected toddler expense.”
Have you ever had an extra toddler expense like my broken moose? What do you think about the cost of raising a child over 18 years? Was it a number that you expected? Do you think that $13,000 a year for one child is a realistic number for your family?