You can find out over at The Motley Fool using their calculator. You enter things like daycare, groceries, bigger home or car, more insurance, and dental bills along with the child's age at the end of those expenses, and they total it up.
How Much Will it Cost to Raise a Child?
It seems to us it'd be pretty hard to estimate those expenses for a child's life, especially if you're a first time parent, but it does open your eyes to some of the costs you might not have even thought about.
Find the calculator here.
Image via Stuff.co.nz.
Comments (3)
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find it humorous that it automatically puts 18 as the age when education expenses end!
unless your kids go to private school when, with scholarships and depending on their major, the cost of college can actually be less than high school, the cost of education increases drastically at age 18....
view Enamorada's profile
How much money does it take to raise a child? All of it!
view Shawn's profile
Raising a child is expensive. Health care, medical insurance, food, clothes, school, there's a lot to pay for. I would start thinking about having 1 child when you make at least 40,000 a year. When you make 50,000 or more have your second one. Anyway thanks for the calculator.
view sheeva's profile