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Thursday, October 20, 2011

What's the Cost?

The first report issued on the cost of raising a child to age 17 (remember that this doesn't include college) in 1960 stated the total cost to be $25,000.  Today most experts agree that the number is $300,000 or more.  It would take Daniel 12 years to earn that amount...enough to provide for 1 child!  According to babycenter.com, a child's first year of life should cost over $10,000 including childcare.  Now, Emma's first year is bound to be less expensive than a first-born's (something not seemed to be taken into account from most sources), but even a first baby doesn't have to be expensive.  This is what was spent for Alex before he was born...

Car seat/stroller $20 (thank you, Mom!)
Crib/Mattress $0 (thank you, Aunt Suz)
cloth diapers $50
clothing less than $20 (many were given to us)

Expensive?  Nope!  Fancy?  Nope!  Suitable?  Definitely!

I am on a quest to prove this theory of expense wrong.  For the next several months, I will be totalling what we spend on everything...every last purchase and I will let you know what the total comes to for four children.  Of course, this won't be starting from scratch.  Our freezers and pantry are full, I have clothing in the closet, diapers in the drawers, toys in every room of the house, Christmas gifts purchased, etc. but this would be considered "on-going" expenses.  We will need more food, more clothing, transportation, school supplies and more.  Not to mention all of the non-necessary expenses...field trips, restautant meals, and on and on the list goes.  I'm excited to see what the total comes to.  Any guess how much we will spend per child in 3 months?

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