Childbirth is an exciting aspect for every couple and they are eagerly waiting for the baby to come. Starting a family is a dream for every couple and they work round the clock putting things together for the baby like a nursery, clothes, feeding bottles, the room and toys.
However, expenses with the baby are not just limited to buying diapers and setting up the nursery.
Bringing up a child is a life long investment and one has to think carefully and plan for the expenses. The couple would need to make a lot of sacrifices for bringing up the child and also put the child’s needs before theirs. And, couples often overlook the bigger expenses waiting and look at the smaller things to buy and feel satisfied.
The first main expenditure comes in the form of housing when you are going to have children. When you are juts a couple with two of you living together things was much different and you could even live in a studio apartment. However, this is not quite possible when the baby comes in and things have to change. You need to move into a two bedroom apartment and get a bigger place for yourselves. Food is another major expense because the baby eats completely different food and also expensive food. To start with baby formula needs a good amount of budget in the first year. Transport plays a large role and your two seated swanky car needs to go and you need to invest in a car that can keep the car seat safe. Then comes health care like insurance plans, childcare, and finally you have to think about the child's education.
Trying to calculate monthly cost of raising a child is a little difficult because it will vary from one household to the next. While one household may spend just $500 a month, the other may spend over $5,000 a month.
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