Make budgeting easier by knowing what your child will cost you per year through a calculator on Baby Center’s website.
The calculator breaks down costs into housing, food, transportation, clothing, health care, child care and education and misc. The figures are taken from the U.S. Department of Agriculture’s 2011 report.
It allows you to select cost factors like region, single or married parent, annual income, age of child and whether you will pay for the child’s college education.
For example, a married couple making less than $58,890 with a 0- to 2-year-old child who doesn’t plan on paying for college will spend about $183,690 until they are 18. This year alone, the baby will cost $9,870.
At 3 to 5 years old, the cost only changes by $10, but by 15 to 17 it’s a year total of $10,840.