22 Nov It Cost HOW MUCH to Raise a Newborn?!?!
How much will it cost to raise a newborn?
Raising a newborn is hard, but it’s also expensive. How much does it really cost to raise a newborn until the age of eighteen? If you are a middle income family, according to the United States Department of Agriculture, you will spend about $254,000 from the time your newborn is born until the age of eighteen.
Here are some bullet points on what you will spend your money on:
- Home electricity/gas/water
- Possible new car
- Possible new home
Most middle income families spend between $10,000 to $12,000 the first year. That amount increases as your baby’s needs increase. Not sure how much you plan on spending and saving? No problem! We’ve got you covered! Baby Center.com has put together a spending calculator. Just follow this link: http://www.babycenter.com/baby-cost-calculator
What can you plan to save money on? Instead of buying a new car, how about trade in your car for a used one? Or you can try to remodel your home before you try to move. These two things alone can save you a good amount of money.
Another great way to save on one of the biggest expenses when it comes to raising a child, clothing, check out this great online shop that is the best for both value and quality www.tradeupclothing.com.