It’s expensive to raise a kid! With more young adults returning home after college, parents may end up taking care of their kids for twenty five years or more. Of course, it’s worth it. Isn’t it nice to see your kid happy after you buy them a new Xbox, or even to see their face glow as you watch them graduate college? You are the one who puts them in a position for success.
Still, with all that said, between food, hospital bills, and utilities, taking care of a child is probably the most expensive thing you will ever do. Where is all your money going? Here are the top three expenses of raising a child in America today.
Before The Baby
Having a baby is very expensive. There are tons of various expenses. You have to pay for prenatal care and vitamins to make sure your baby will be healthy, classes that will help you through labor, as well as a crib, new wallpaper for the bedroom, toys, tiny shoes – the list goes on and on!
Luckily, you can always cut down on expenses like diapers and formula with coupons, which are often available for these items. You will spend hundreds on diapers, so this is definitely a good place to try and save a few bucks by clipping coupons.
School And Summer
School can get very expensive, especially if you choose to send your tot to a private school rather than a public one. Depending on the area you live in, public school may not be an option – parents are increasingly choosing private institutions in the United States.
A private middle school can offer your kid lots of opportunities, like great prep for college, chances to study abroad, and even minor advantages like better school lunches cooked with healthy, farm fresh vegetables.
These advantages don’t come cheap. The price of private schools is at an all time high, and it doesn’t seem likely that it will get any cheaper. Meanwhile, you still have college and summer camp to think about.
Cell Phone Crisis
Here is something all parents will be familiar with, especially if your kid is older than ten – every kid now wants a cell phone, seemingly as soon as they exit the womb!
This is a struggle for parents, not just because they are cautious about handing their kid a $300 to $800 piece of technology, and not just because the monthly texting bill is about to go WAY up. There is also the question of whether a kid can handle the responsibility of having internet access and being able to talk privately with friends (or strangers) whenever they want.
Getting your kid a cell phone or laptop is pretty much inevitable these days, but it is often hard for parents to be comfortable with. If your child is young, it might be good to monitor any online activity for a while to see what they are looking at.