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View Full Version : Cost of raising a child? becky 08-08-2011, 03:42 PM http://www.parenting.com/cost-raising-child I found this interesting. It has several variables to choose from and includes birth years from 2005-2013 ktjo17 08-08-2011, 04:01 PM I did Henry's birth year (2006) and no college. It only said $225,000. It seems like they cost more than $12k or so a year if you include everything. becky 08-08-2011, 04:10 PM I don't exactly know what I think of the whole calculation but it is interesting. When I did mine I calculated for my youngest both on the West and the MidWest. I guess the cost of education is higher in the MidWest but everything else is about the same. MamaLaura 08-08-2011, 04:42 PM I did Henry's birth year (2006) and no college. It only said $225,000. It seems like they cost more than $12k or so a year if you include everything. I did Kaylyn (2006) and got $131,606 (no college). That's $7k something a year. Being a single parent, on food stamps and TANF, that seems about right to me. She gets $6k a year from the county due to a lack of child support from her dad, plus some food stamps, so I think that the $7k a year at THIS point sounds right. Now, in the past when I brought in $45k a year as a single mom, I spent more on her because I had more to spend. But as far as basic needs and some fun stuff (she's really not hurting for toys or fun outings), the assessment is right for us. My3sonsplus1 08-08-2011, 05:35 PM Yeah not accurate for our family. I don't spend $200 a month per person on food for example. I know I did not spend over $7k for any of my children's first year and I find it hard to believe my kids will have cost over $250k in housing over what we would have spent as a childless couple. It is also impossible since if you multiple the number by 5 you get more than dh makes in a year and we have no debt. meeg124 08-08-2011, 05:49 PM Caden was born in 2003, so I couldn't do this accurately but it said with college he will cost us $577,162. Since he cost us 20k+ before we ever conceived him and he says he wants to go to MIT, I believe it! MamaLaura 08-08-2011, 06:30 PM Yeah not accurate for our family. I don't spend $200 a month per person on food for example. I know I did not spend over $7k for any of my children's first year and I find it hard to believe my kids will have cost over $250k in housing over what we would have spent as a childless couple. It is also impossible since if you multiple the number by 5 you get more than dh makes in a year and we have no debt. Not that it makes a HUGE difference by any means, but in case like yours, you've got hand-me-downs for the younger kids so you save some money on clothes, I'd guess. TaivensMama 08-08-2011, 07:37 PM Not that it makes a HUGE difference by any means, but in case like yours, you've got hand-me-downs for the younger kids so you save some money on clothes, I'd guess. I spend under $20 a month on the kids clothing because we get hand me downs (which I am ever so grateful for!)…I only buy them clothes if there is something I MUST have that just totally "talks" to me, knowing it would be perfect for one of the kids. (even then it's usually under $5 on clearance) However I do spend a lot on food since it seems organic/natural foods are pricier, so it probably evens out... howardvm 08-09-2011, 08:14 AM For Caitlin it says $583,953, that's with college born in 2007. Seems accurate to me. For Lij it says $644,653, which actually is probably low due to his medcal issues. Brookepanda 08-09-2011, 08:31 AM For M it says: $596,422 with college brookiesmom 08-09-2011, 10:39 AM For Brookie is says $216,913 with college surmick 08-09-2011, 11:19 AM it says 583K for public college..... I don't get how they figure that out. Do they figure if you make more money, you spend more money? Brookepanda 08-09-2011, 11:28 AM it says 583K for public college..... I don't get how they figure that out. Do they figure if you make more money, you spend more money? Yeah I was wondering too...because everyones answers are so varied! MamaLaura 08-09-2011, 11:43 AM I spend under $20 a month on the kids clothing because we get hand me downs (which I am ever so grateful for!)…I only buy them clothes if there is something I MUST have that just totally "talks" to me, knowing it would be perfect for one of the kids. (even then it's usually under $5 on clearance) However I do spend a lot on food since it seems organic/natural foods are pricier, so it probably evens out... I've been fortunate to spend little on clothes, too. Between fabulous hand-me-downs and my mom liking to buy what works out to a couple outfits a month on average, I don't have to spend much and when I do I get cheap play clothes from Walmart (Garanimals brand). I think where I make up for replenishing clothes, is in activities/outings whether it's the gas to get there and back or special food while we're there or whatever else. Even the gas to and from seeing family and friends she loves, like my mom and grandparents. Things that I think and hope she'll have good memories of later. Plus we buy a lot of books (some used, some not) and lipgloss LOL. Brookepanda 08-09-2011, 11:46 AM and lipgloss LOL. :biglaugh that last part cracked me up. oh and.....*I* tend to buy clothes for the entire county of sonoma :lol oops. Lorah 08-09-2011, 02:34 PM Maverick (2006) $231,507 Noelle (2008) $209,884 Same stats for each... only difference was the year I put in. Lorah 08-09-2011, 02:35 PM Yeah I was wondering too...because everyones answers are so varied! :yeah ktjo17 08-09-2011, 03:27 PM Maverick (2006) $231,507 Noelle (2008) $209,884 Same stats for each... only difference was the year I put in. It seems like Noelle should cost you more since things always seem to be increasing in price... MamaLaura 08-09-2011, 03:38 PM Lorah, did you include college for both or neither? I wonder if you DID include college, if they think that a man might be more likely to go for longer or something... Or perhaps they count a girl having dates to pay for meals and prom and such and a boy having to pay for that shit himself LOL My3sonsplus1 08-09-2011, 03:57 PM Lorah, did you include college for both or neither? I wonder if you DID include college, if they think that a man might be more likely to go for longer or something... Or perhaps they count a girl having dates to pay for meals and prom and such and a boy having to pay for that shit himself LOL I did not recall having to enter the sex of the child... MamaLaura 08-09-2011, 04:21 PM Ah, I couldn't remember Lorah 08-09-2011, 05:12 PM It seems like Noelle should cost you more since things always seem to be increasing in price... I KNOW! I thought so too! Lorah, did you include college for both or neither? I wonder if you DID include college, if they think that a man might be more likely to go for longer or something... Or perhaps they count a girl having dates to pay for meals and prom and such and a boy having to pay for that shit himself LOL Yes, public for both. All the info was the same... the location, household income, which at the moment is more than 10K less than the lowest point they show.. but I know we MIGHT get up to just under that low point... I hope! by the time they are in college. :rolleyes 2 parents...the only thing that was different was the year they were born... didn't remember seeing a sex thing to choose...I'll have to go look. I did not recall having to enter the sex of the child... :yeah But I just checked, there isn't. So I wonder why Noelle was cheaper??? That makes NO SENSE as things to increase in cost... the only thing I can think of is that we have hand me downs potentially???? But really, I have a boy and a girl, not really applicable there... so not sure why she would say less? :dunno My3sonsplus1 08-09-2011, 05:45 PM So I wonder why Noelle was cheaper??? That makes NO SENSE as things to increase in cost... the only thing I can think of is that we have hand me downs potentially???? But really, I have a boy and a girl, not really applicable there... so not sure why she would say less? :dunno Maybe you did click something different on accident? Lorah 08-10-2011, 12:19 PM Maybe you did click something different on accident? nope. I did it twice. both the same. :lol I never put any weight on these things though, they might be accurate for some, and not even close for others.. I just like to do it just to see what it says... ;) My3sonsplus1 08-10-2011, 12:53 PM nope. I did it twice. both the same. :lol I never put any weight on these things though, they might be accurate for some, and not even close for others.. I just like to do it just to see what it says... ;) I can't even recreate the numbers you came up with for 2006 (tried like 10 variations with diff college set ups, diff location...) so I did not even bother trying with 2008. Lorah 08-10-2011, 03:59 PM I can't even recreate the numbers you came up with for 2006 (tried like 10 variations with diff college set ups, diff location...) so I did not even bother trying with 2008. now *thats* odd! I did it the exact way each time... I'm going to go do it again to see what happens. Lorah 08-10-2011, 04:07 PM FIGURED IT OUT! :lol So Noelle's is the same still. BUT, Mavericks is not... for some reason, my computer makes the year jump BACK over to 2011 after you click the date... but I didn't notice that until a few times trying it out and realized after I checked everything over a second time before clicking calculate that it reverted that choice... So Mav's is actually... :rolleyes 196,506 So that makes a little more "sense" :giggle I have to click the year twice to get it to stay on the right year. Stupid thing. :lol (or probably operator error) Lorah 08-10-2011, 04:08 PM WOWsers..... I really don't have *this* much time on my hands... I swear it! :rolleyes Colleen&Kail 08-10-2011, 04:21 PM kail will cost me $227,882 for a private college, it was around $183,000 for a public college. erobertson 08-10-2011, 05:25 PM It says $324,513 with college for Andrew. Does the kid cost for if the household makes less? My3sonsplus1 08-10-2011, 05:33 PM It says $324,513 with college for Andrew. Does the kid cost for if the household makes less? they do make an assumption that if you make more you spend more on your child. erobertson 08-10-2011, 05:36 PM It looks like if you make less the kid will cost more. Are they assuming that poverty leads to more health problems? MamaLaura 08-10-2011, 06:35 PM Like Lisa said, if you make more, they assume you spend more. I did my child with my real income bracket versus the next one higher and got this: Single parent No college Suburb in the west Less than $56,300 2006 _______ $131,606 Single parent No college Suburb in the west $56,300 - $98,500 2006 _____ $210,558 If I do the last income bracket with all the above information otherwise the same, I get $500,148. Housing is understandable. You'll spend more on a house (renting or owning) when you HAVE more. So it makes sense to raise that. If you have more money, you're likely to eat out more and buy better foods (example: I don't shop at Whole Foods but people who make more are more likely to do so because they can afford it). Transportation = you'll buy a better vehicle for your child, if you buy one at all. Clothing = higher quality, name brand versus bargain shopping, used, hand-me-downs, etc. I mean, it all makes sense IMO that you'll spend more if you have the ability to do so. Lorah 08-11-2011, 08:28 AM Like Lisa said, if you make more, they assume you spend more. I did my child with my real income bracket versus the next one higher and got this: Single parent No college Suburb in the west Less than $56,300 2006 _______ $131,606 Single parent No college Suburb in the west $56,300 - $98,500 2006 _____ $210,558 If I do the last income bracket with all the above information otherwise the same, I get $500,148. Housing is understandable. You'll spend more on a house (renting or owning) when you HAVE more. So it makes sense to raise that. If you have more money, you're likely to eat out more and buy better foods (example: I don't shop at Whole Foods but people who make more are more likely to do so because they can afford it). Transportation = you'll buy a better vehicle for your child, if you buy one at all. Clothing = higher quality, name brand versus bargain shopping, used, hand-me-downs, etc. I mean, it all makes sense IMO that you'll spend more if you have the ability to do so. :yeah Yep, I know for sure if we made more, I'd be eating all organic, and shopping at Whole foods to get healthier foods, which would then cost us more. So I totally agree that if you make more, you spend more.... same with clothes... right now I do not buy clothes for me, and rarely for the kids. I go to free stuff playdates, and have even (very nicely) asked my good friends if they had any hand-me-downs because we simply cannot buy clothes right now. So for sure if we had money I'd be buying clothes! WE all NEED them. Growing up, like at age 15 or so, I'd hear my folks say that the more you have, the more you spend, and I thought that seemed silly, but it's so true.... at least when you go from poverty line up to cost of living levels.... who knows, maybe someday if we get above the moderate levels (whatever those are anyway) maybe we will not be spending more, but be able to save more?!?!?! THat would be rad! becky 08-19-2011, 10:09 AM the more you have, the more you spend, and I thought that seemed silly, but it's so true....I couldn't agree more. Back when I was working full time I loved having a personal allowance of $1000 a month after paying utilities, my student loans and CCs. I could spend on what ever I wanted and did. If I ever had that luxury I would do it again. ;) |