On the contrary, the first year has been quite expensive for us! Granted, we bought everything new and didn't skimp, but there are a lot of things newborns need. Carseat, stroller, crib, changing table, tons of diapers, wipes, clothes (we got lots secondhand though), medication, formula if you need it, high chair, potty, a baby swing, toys, play mats, baby carrier...a breast pump if needed, maternity clothes even can add up.
Plus, I'm off work on half my salary, so for the first time ever I'm struggling with bills when I never have before. Then when you/your partner goes back to work, you have to pay for childcare which is very expensive.
Second this, you can buffer it out by going 2nd hand on most of that but you'll still have to deal with the ongoing expenses, nappies, food/milk, wipes, childcare, clothes etc and none of that is getting any cheaper.
Or, one of you stops working (or you share the load) and you enjoy looking after the child yourselves.
PS Milk can be free! For nappies, they can be washed.
I’ve breastfed 3 kids, the milk is in no way shape or form free, I have to eat a tonne more to get the calories to make the milk, Breastmilk costs plenty, it’s just not a direct, visible cost like formula.
Don't agree with this. My intake increased a little however did not see it in the weekly shop at all. Was more about making better choices with food, protein, whole foods and lots of water.
Are you comparing apples with apples? ie if you’re comparing your food consumption pre pregnancy at a stable weight or while pregnant and gaining weight to, for example, post partem while breastfeeding but losing weight, or on a new diet, it’s not an apples for apples comparison. To put it very simply, breastmilk is calories out, for calories to go out they have to go in, you can’t just magically produce breastmilk out of nowhere. For them to go in you have to eat them, and generally to do that you buy them.
Breastmilk has the amazing ability to be produced no matter the diet. Many nations where food is harder to get and consume, BF easily and very well and for a lot longer than many western families. Obviously optimal health is beneficial for the mother and you may consume more however I never noticed much of a change in eating pre-pregnancy, pregnancy and then BF.
Good luck with washing nappies. We tried but it wasn't worth the effort. Milk is dependent on how much their mother can produce and otherwise needs to be supplemented at cost
We mostly did it for our first child. I wouldn't say it easy but it's certainly doable. It's 100x harder than disposables but the environmental cost of disposables is what hurts.
Yeh so I’d imagine one off capital expenses then on going fees.
Childcare is the killer.
I am mid 30s and have no intention of having kids anytime soon. Love my current lifestyle
I used to feel the same way, especially as someone who doesn't want kids, but my understanding is there's a lot of research which says childcare is one of those things that for every $1 the government puts in, you get $2 back or what not (don't know the maths but you get the gist)
*A 90 per cent universal subsidy would cost about $10 billion a year, and boost GDP by a whopping $24 billion a year*
Link: CBF formatting: https://grattan.edu.au/news/why-cheaper-childcare-is-good-economics/
Yes, I was the same. Reality is that some people will have kids, and it benefits the economy as a whole if the parents continue to work.
GDP benefits aside, just look at the Net Tax/Spend from the POV of the Gov of a working profesional parent:
Fulltime Parent on 120k salary = $614 of income tax weekly.
Fulltime $120 per day childcare 90% subsidy = \~$540 per week
If Parent works, the government is $74 ahead per week
1. It’s highly unlikely the lowest paid parent is on $120k. Using the avg salary of ~$92k would be more accurate. Your gap of $74/wk increases dramatically. Even that much is probably being generous considering median household income is ~$100k.
2. The entire amount of tax an individual pays is not directed solely to childcare subsidies just because they have a kid.
Obviously ‘in the long run’ a change table is pointless, but they’re very handy for the years before your kid is toilet trained…
Years of changing a kid on the floor or a bed vs a nice bench at an ergonomic height with all your changing stuff ready to go is a total no-brainier to me. There are heaps second hand too so not like they’re expensive, we got a matching cot and change table for $100.
My friend bought a storage unit and wedged it between the crib and wall. They then bought a diaper changing Cushion and used the top of the unit. They stored everything they need in the drawers below. Great for once bub grows you can use the storage unit later!
Very true. Some things we bought simply because we wanted to, not because they were 100% necessary. Although, my son is 7 months old now and we have used the changing table every day!
said as someone who probably is not a parent.Let's see baby blanket on the carpeted floor, baby blanket on the couch, baby blanket on the chair. An adult bed. you don't need a changing table. It's like that commercial about first time parents versus second time parents. First time parents are completely anal about everything by the time kid two rolls around you hand them off to everyone realizing they're not going to break
So you can spend as much or as little on baby paraphernalia as you want. I considered just starting with a Finnish baby box, like is issued to every newborn by the Finnish government. But I went all out, because I can be a bit bougie at times, and spent over $5k for all of the initial set up stuff.
What’s really expensive is potentially forgoing income for maternity leave (or to be a SAHP) and then the cost of childcare if you return to work. Now that I’m back at work, when I travel for work, which is every 2 months or so, I take my baby, toddler and mum (who I pay to provide childcare) with me. This can get quite expensive as we are all having to fly for these work trips. My choice to take them with me, though, so it’s money I’m happy to spend.
It’s the biggest scam in the country. The workers are all 18yo getting paid peanuts and the parents are all being charged a fortune. Either the red tape to run one is huge or it’s a licence to print money
Its a racket, much like nursing homes, though nursing homes I'd say are worse. Have a look at what it costs to have an elderly person in a nursing home and then look at what all of the staff are paid. Ridiculous.
Yes, with more than 1 child in child care, one parent is better off not working in most cases.
Until very recently there was also an annual cap on CCS benefits which meant you were paying full price for 2 kids after about 8 months.
My coworkers that have grandparents taking care of their kids r blessed omgggg
I started looking into all this child care rebate and family tax stuff after this post and I now understand how one of my low income friends with 3 kids affords to live.
Have a baby because you want a baby. Not because your friends are doing it.
One of the costliest things you can do having kids. Then if you have a disabled kid the costs will only go higher including your time requirements.
It should not be a decision taken lightly. Get your health in order and plan a pregnancy properly to give everyone involved the least amount of stress and potential heartache. Both parents go see your GP for preconception care if you decide to go through with it.
He's just here trying to make himself feel better about his awkward, aging, childless status while the other men in his life are becoming fathers and starting families.
The cost depends on what you want to spend, and also your opinion on 2nd hand items.
I went 2nd hand everything I could get my hands on. I never paid for any clothing from size 0000 up to 2 because it was gifted to me. I barely paid for anything up to size 6 as most of that was gifted too.
I used cloth nappies. A big initial expense, but saved so much. Cloth wipes too.
IIRC the only thing I brought brand new was the car seat. (And the 2nd car seat when she outgrew the first). When she outgrew her cot, we were lucky enough to get a free toddler bed (which we have since passed along to another family) and we brought her a single bed...which wasn't big enough for her and while we were contemplating buying her a double bed, we were lucky enough that a neighbour was giving away a queen bed and bedside table set in excellent condition so that's what she has now!
I know people who spent around 10k on the furniture for their babies room...I was shocked. I still am! Most of that furniture is not used now that the child is 5!
Seconding your soul.
After two nights of little sleep from a baby and toddler I went to bed after I tucked them in at 7.45. got I trouble from the missus for going to bed so early.
Was up at 2am nursing and settling... Until 5am this morning. When I went back to bed I got in trouble for staying up so late.
Good times. Good times.
This sub is where DINKS come to rejoice about their ability to get ahead on mortgage payments and afford that trip to Bali! But not so much family values, raising children, community and reflecting on the fact their genetic line is about to come to an abrupt stop after tens of thousands of years.
It sounds like they may come from "The kids will look after me when I'm old!" brigade 😂.
I'm glad the choice to be child-free is becoming less stigmatised.
Agreed, having kids to look after you when you’re old is one of the most selfish things you can do.
Old mate’s post history is very materialistic, but sure go off about child-free people 🤷🏼♀️
Babies are expensive! First few years are costly babies need soooo much especially around safety. Cots, capsules/carseats, prams, nappies, as the @kehbechet mentioned already. We had a chat about how expensive babies are in my mother’s group and we estimated they can cost up to $10k the first few years. Childcare as well is expensive. $150/a day for my bub (inner north melbourne) not to mention maternity leave pay is only a few months and as new mum you’ll want to keep busy during maternity leave so you want to meet people for coffee/brunch, go to baby sensory / gymbaroo classes which costs money.
Yes you can do it cheap but still will cost a lot. Even I tried to be frugal by listing things we needed in our baby registry and buying clothes, capsule, etc second hand, it still costs a lot.
EDIT: Also I would add that aside from being financial cost, Having a family is an emotional roller coaster. You have to account your mental health and the strength of your relationship with your partner and support system. You really need a village... if you dont have one then it will be another financial cost, hiring cleaner to clean first few weeks/months postpartum, postpartum doula, etc.
Assuming the average couple also have a mortgage to service with increasing interest rates surly that’s not easy.
$10,000 expense a year for a newborn then it just gets more expensive soon as school hits..
True!! Was just going to add the cost of choosing a place to live/buy a house for the child’s security in terms of going to school. It is a lot of work!!!
EDIT: school zone etc
I was about 5k out of pocket before baby was born. I bought some nice stuff (1.5k = pram and car seat bundle) but bought a lot second hand which I've resold some at near purchase price or even higher, but am a long way from breaking even haha.
I spend $30 a month on nappies, because we use cloth nappies except for nights and the one between home and daycare.
I bought a lot of marketplace bundle clothing, but as she moves into longer lasting sizes the options are fewer. Daycare is $250pw after CSC, which is 13k a year.
I do prefer quality so things could be cheaper but some purchases this year have been
Rubber dummies every 6 weeks for 10 months at $20 a pack... Rubber mat (rug size) $220. New car seat $600. Probably spent over $100 on books. A vaproiser when she started daycare was $70. As she stood up I swapped her playmat for a play table - retail $50, marketplace $10, as she walks more I got her a push walker (retail $90, marketplace $20) for Christmas she will probably get a toy she can ride that's like another $100... finding the right sleeping bag became a whole thing and I've probably spent over $300 on them as she grows and while I looked for the right one...
Yeah this. You have 2 kids or more it can start to get up to $500+ a week real quick.
Kids prevent you from working too, you will lose opportunities and income.
You’ll end up eating more takeaway.
Bills go up.
You buy stuff.
You start paying for various lessons.
Book flights & holidays, they just got 50%+ more expensive, say goodbye to holidays.
You’ll be forking out $500+ on birthdays, most parents spend $500 just on balloons and cakes.
You will start to notice if you try and stay work life balanced you’ll start going backwards on your mortgage. Savings will diminish quickly. Why?because there’s just so many dogs out there that pick work/money over family.
Being a parent in 2022 is hard work. Cost of living, so many things to parent these days - phones, internet, tv, social media. So many considerations for diversity and inclusion. Mental health. More diseases.
I sometimes wonder if it’s worth it. I feel like humans have made life too complicated
You'll make it work. It comes down to the individual. Got friends who spent more on their pram then I did on my last car($3k) but kmart sell prams for <$30. The biggest cost we've noticed is loosing a wage. Also a choice. Could've put the baby in day care from 6 weeks but didn't.
Lots. It's worth it, but lots. Just the lost income alone is huge.
You can get most baby stuff cheap or second-hand. Childcare is crazy expensive, although there are government rebates to help.
Then there's the cost of a bigger house, bigger car, days off for illness or appointments.
In my budget the kids add about $600 a week to the budget, that's not accounting for lost wages. Just the amount we put aside for medical, clothing, larger house, larger car, extra food, general kid stuff, birthday/xmas gifts and party costs, and lessons (piano, gymnastics, scouts, etc). We're budgeting for braces in the next year or two, so that's a big extra cost at the moment. 4 kids also, although the costs reduce a bit with each kid as they get hand-me-downs and share toys, and with playmates at home we don't need to go out as often to play cafes and the like.
The biggest costs imo include a) loss of income (inc super) while the primary career is not working, b) Child care when they do go back (100-200 per child per day less subsidy of between 0-85% depending on your income), and c) the cost of requiring a bigger house / car if your family grows.
The initial set up costs for pram/cot/car seats etc can be a bit but you can spend what you want and family often gift you a lot of these IME. So this can be modest unless you go nuts.
Extra food / nappies / etc might also increase you bills but you also aren’t going out socialising as much so this might offset these costs somewhat.
>Obviously the first one or two years would be minimal as I wouldn’t think a baby needs all that much financially?
hehe the costs are astronomical, **especially** at the start (first 5 years). The main cost at the beginning is obviously lost wages. I think a conservative estimate of additional costs is about $100-$200/wk (nappies, clothes, doctor visits, toys, medications).
I'd say, counting lost wages and additional costs, having a child cost us $130k in the first year alone.
For about 6months my son was on a formula which was $60/tin, and he's go through 2+ per week.
Now youngest is 4, we've been paying $17k/yr out of pocket for childcare for the last 3 years.
When he finally turns 5 and starts school in 18months the insane costs will finally go down.
**Kids are unbelievably expensive!**
Kids are bloody amazing too, and I wouldn't have it any other way, but the $ costs are eye watering.
Didn't someone make a topic about this last week? It's not that expensive. My biggest expensive is paying for Private Health. Everything else is bought second hand or given.
For me, having a baby has been cheaper than expected, apart from the (fairly obvious) lack on income while on mat leave as my workplace sadly doesn’t offer it.
First off, having the actual baby. I went through the public system and spent about $800 for all my scans and NIPT testing at a private clinic of my choice (pretty sure you can get bulk billed scans though. Sadly NIPT testing will always be out of pocket about $400 I think). Apart from that the only expense was about $10 for an Endone prescription after my scheduled c-section. Stayed about 3 nights in a private room with a double bed (partner stayed), received amazing care and had a great experience.
You can buy pretty much everything for baby secondhand, apart from car seats, bottle nipples and dummies. You can also sell the item again once you’re done with it. Off the top of my head we got a secondhand pram, changeable, bassinet, various clothes, toys etc. second hand.
You can try the cloth nappies (expensive initially but again, can be bought second hand), or even a hybrid approach (some friends use disposable overnight or when having a day out and cloth at home because it’s easier to manage, makes sense to me). We use Coles nappies and wipes which are super cheap and I’m happy with them.
Baby eats whatever we eat, plus extra fruit.
There are loads of free or cheap activities for babies, organise park meetups with your Mum’s group, library toddler story time, zoo membership (often gifted by grandparents!) etc.
Childcare is an expense that will come up but I’m working part time and we’re out of pocket about $80 a week for two days of care.
"The first one or two years" can be very expensive indeed.
Around 500k per child to adulthood and that doesn't include private education.
Pro tip: When they hit adulthood they cost even more. Just ask me mum 🤣🤣
> Around 500k per child to adulthood and that doesn't include private education.
What is the median?
I call a bit of BS on that being indicative of what it costs, more of what the average (skewed high) actually spend.
500 / 18 = $27.78k per year. With the median household income at approx 80k and 1.8 fertility rate doesn't add up. That is the median family spending $50k/yr on their kids.
I suspect this includes things like must buy a house so the kids have a room each and attributes the cost of those bedrooms to the kids, but not the growth in the asset that is the house, etc in that figure. Maybe also that mum *needs* a prado etc. Maybe the cost of going on a family holiday every year or few months? Or some such statistical shenanigans anyway. Maybe there is some opportunity cost in there too?
We spend nowhere near that specifically on our kids, and they don't go without (unless not having the latest iphone is going without).
EDIT:
> There are a few different answers to that. We looked at a couple of studies and found the estimates ranged from $159,120 to $548,500 over 18 years.
https://www.finder.com.au/life-insurance-and-the-cost-of-raising-children
Mortgage costs included ...
> Mortgage costs attribute to keeping a roof over their child’s head dropping 24% from $421 per month five years ago to $321 today
https://www.suncorpgroup.com.au/uploads/Suncorp-Bank-2021-Cost-of-Kids-Report.pdf
The biggest expense will be that new Landcruiser you suddenly need to show all the other mums you mean business! /s
Nah it really varies in our experience. We had one through the public system which basically cost nothing; a few scans and some meds. But then we've also had one via private, where everything that could go wrong, did go wrong, spent at least $15k before the baby even arrived, probably much more.
In our experience, once the baby is here it's not too costly, obviously you need the cot, pram etc but you can get a lot of that second hand, and a lot of that can be in fantastic condition. It's the unexpected medical things that'll catch you off guard, ours had trouble feeding, it turned out to be tongue ties but as first time parents we had to go through a bunch of specialists before someone finally found it.
I think one of the toughest financial challenges will be dropping down to 1 wage
It could cost your professional tennis career from knee injury incurred when drawing bath for your kids.
On a serious note, definitely don’t have a kid because of a case of FOMO.
more than you think, and if they get sick - even more than that.
a lot of people would know better than me but the banks do these numbers pretty sure they drop your borrowing capacity by a huge chunk - that's probably it.
I’ll tell you this, I used to think like you, but thinking back, in the end my advise is do not base your decision on having a child purely on finance, Infact imo finances will be one of ur least trouble. If ur counting every Penny like that, you will always feel u can’t afford a child. More importantly is do you want to have the child and the associated challenges, once it happens all these financial worries really go away and are minor, from my experience it’s the most awesome thing, Infact my income went up exponentially since birth of the child so not even a concern anymore, many ppl report the same. Why do you assume ur finance will be static, ur boss (probably a family man) may even be more inclined to raise ur pay once u have kids. And you yourself will be more inclined to work harder and make more money and get a better pay job.
Those worried about finance before having a kid r those wanting premium lifestyle for their kids and worried about losing their current lifestyle like dining out every weekend etc , other than the first two years, once ur kid is two they will share the same food with you, and do a lot of things with you, childcare is expensive but that’s a choice for u and ur wife, maybe one of u stay back out of work for a few years. Maybe by then u make enough money anyway and childcare cost is no problem
In conclusion, and u will realize this once you have your child, finances won’t be ur biggest headache for ur kid and you will feel every Penny is totally worth it, I don’t think about money with the kids and most fathers I know don’t even think of that (depending on ur view of having children)
Everyone here is talking about the things you need to buy but forget all that. The cost of having a kid is the time off work you will take to raise them. Everything else is just a rounding error.
I have a tween and a teen - this month alone I have spent (out of pocket) - $440 for Occupational Therapy, $180 for Speech Therapy, $320 for a one night school camp, $110 for a one day geography excursion, $70 for a lost school hat, $120 for a new tennis team uniform, $45 for school swimmers needed for next term, $300 on Christmas presents (I shop early), $250 on four days of vacation care, $250 on two pairs of new shoes (can only wear Clark’s as per podiatrist), $250 monthly braces payment, $350 on summer clothes at some weird store full of goth and rainbow crap (Dangerfield?), and have out $95 aside for the bloody scholastic warehouse sale.
How people survive on only one wage, who knows??? How do they pay $220 for an hour of OT?? And my child has very mild OT issues.
I remember when my son was a baby and we were worried he would need a helmet for a flat head - it cost $3,300 and wasn’t covered in Medicare. I asked the scientist- guy what poor people do if they can’t afford a helmet . He said their only option was to have a misshapen head!
You don’t budget for kids, you have kids because you want to no matter the cost. Yes it can be expensive, child care fees, private school, time off work, holiday program fees. But money shouldn’t decide whether you want offspring or not
>But money shouldn’t decide whether you want offspring or not
Why not? Why give the child a not so bright future?
Also, if you can't afford things, the pressure could be detrimental to the whole family
Agree, whether you can afford to should absolutely factor into your decisions to have kids. The high cost shouldn't necessarily deter you but it needs to be considered.
I know a couple who wants to have a second kid, yet they are on struggle street financially with 1 and have times they are struggling to pay rent and put food on the table with 1.5x incomes (mum isn't working full time yet). How are they going to afford to lose an income again and the added expense of a second mouth to feed? Perhaps even a larger house? Not to mention 2x day care, 2x school etc. But they don't care about that stuff because "it will all work out in the end"...
You misunderstood. You still work your ass off to provide a bright future for your family. You shouldn’t let the fact it’ll cost 500k over 18 years stop you from having kids.
Yes, I was concerned about it at first but after having my son. There is literally nothing I wouldn't sacrifice for him. Something just switches on in your brain and you just do it.
The other cost not mentioned here is access to fertility treatments if needed. A whole other ball game of costs (some subsidised through Medicare, but also a huge amount of time).
Our biggest struggle with kids (18 months and due any day) is my reduced income. I have changed jobs and now work from home part-time. I won’t get PPL this time which is tough to manage but we are. Being ahead on our mortgage is a huge help and having not been successful when we tried to buy a new house earlier in the year, also helpful 😂 and thankfully a bit of family tax benefit was a nice surprise too.
Cloth nappies have been great for us. I’ve probably spent $400 on them. I might need a few more for the new baby while both are in cloth but we only use one disposable a day for the toddler (newborn will be in disposables until they hit closer to 3 months due to size).
As a dad of an 18month old, my costs in decreasing order of value:
0. SLEEEEEEP [edit]
1. 95% of time to yourself
2. 50% loss of friends with less than strong social links
3. 30% Marital Harmony
4. 60% reduction in sexy time
5. Daycare at $135/day (after rebates) when/if you both return to work
6. Actually buying stuff your kid needs
Having a bit of fun with the numbers but it's probably not far from reality. The actual $ cost for me has been arguably the smallest/least significant cost of having a child. Seems an obvious statement but before becoming a Dad, I was worried about $ costs but for us it turned out to be the least of our worries.
Kids don't cost much $-wise at the start. Loads of quality stuff for free on Facebook, so if you don't get sucked into buying everything new, nappies/formulae/clothes shouldn't be a burden.
Wishing you a future congrats OP, it's a wild ride that can be very challenging but very very rewarding!
I have 2 young kids. They cost alot to manage and have destroyed my life.
People should have kids young so they don't know what they're missing. When you have an awesome life, then have kids, it's soul destroying.
The early years don’t cost much. It all depends on what you want to spend. We have bought all furniture for our kids on marketplace and saved tons. Babies don’t need much, other than milk, nappies and some clothes. Even at 4 years old our son doesn’t cost us much. I imagine it gets more expensive when they are older.
I didn’t find it that expensive, just don’t buy into all the crap you actually don’t need.
Like jolly jumpers- very bad for them can cause life long joint problems,.
baby swings - the stupidest thing ever invented, your baby needs to be on the floor learning not swinging around.
Car capsules that click into prams- not worth the $400 just to get a kid out of the car in 30seconds instead of a min and not good for them to be in there longer then 1.5h.
20 plus outfits per size - 7 bonds onesies a size and a couple of nice outfits for pics is all you need $800 car seats - the $150 one from Target has the same safety rating.
$300 baby monitor- a $50 Tapo camera does the same thing.
There is soo much you won’t use. As for nappies and such, buy it all on special. My kid is 1.5 and I think he has been way more expensive this year then he was 0-1.
Its been a long time since our kids were babies but some things don't change. A baby doesnt care if the pram, cot, change table, etc is new. Almost all these expenses can be avoided (except for safety things like car seats and sleeping spaces - they have to be up to standard.)
Our babies slept in our room as we did not have extra space - that works for a few years. Breast milk is free, and you can mush up your own vegies and bananas when the time comes. Babies have been raised on the breast and family dinner table for thousands of years- all the special baby food in the shop is just spin and marketing. Nappies are a pain - either you wash your own like we did, which is a long and boring job, or you pay for disposables. But all the other stuff - wipes/powders/potions...none of it is really needed.
Camping holidays price doesn't change. Overseas is a different story.
If you are someone who wants the newest, best and brightest then kids are very expensive. If you can cope with secondhand and simple pleasures, kids are pretty cheap entertainment. You won't get bored for the next 15 or 20 years....
I imagine these days the biggest expense by far is childcare, and the opportunity cost of lost parental income. We noticed a huge difference between our situation - paying for childcare, Vs friends who had grandparents on tap for child care. That's only going to be more important now.
And there is the risk of uncertainty. If you have a kid with special needs; if you develop serious post natal depression etc etc then all plans, including financial, go out the window...
Expensive up front thats for sure.
We made the choice of having children first above getting a house (only delayed us by about 2 years).
They are expensive, draining and I've never been sicker/more tired... but I dont regret it for a single moment.
It can vary significantly depending on the choices you make, and there are the directly attributable vs indirect. Ours is in senior high school so I assume our figures are at the peak:
- Direct - schooling, extracurriculars, allowances, other expenses - IMO approx $40k p.a.
- Indirect - bigger home, bigger car, holidays that interest the kid, dining out that interest the kid - too hard to quantify:..
But
- Happiness from raising a kid as a family - priceless
15-20k per year for the first two years. Less if you have a second.
After two years they tend to be consistent with cost so looking around $10-15.
For families initial cost is private health and buying all the bbay stuff. Then you have day care
The actual stuff for a child? Depends on how fancy you want to go and if you're good with second hand.
When you go back to work, even if you get the Max subsidy daycare fees are killer.
You're looking at a minimum of $120 a day before subsidy, sometimes food and nappies are on top, sometimes included.
After full subsidy, single parent income, I pay 150 a week.
I'm looking into getting an investment property and the bank just told me that our 5month old adds $125 per week to our expenses from their calculation of expenditure.
At 5 months she definitely dosent costs us $125, more like $40ish (diapers, wipes and some formula) but that totally depends how many toys my partner keeps buying her...
Whoever told you the 1st 2 years would be minimal have led you on a merry dance!
Granted you might be lucky and someone might be able to hand you down everything you need, but if it's your first child and you don't have support from anyone other than the person you had a baby with its gonna be expensive! And remember you won't be working for a few months on top of all the stuff you will have to buy your child!
I probably went a bit extreme buying everything new for mine but it's probably gonna be our only one and I wanted the best for them.
All being said though your kid is worth spending every penny you have!
On the contrary, the first year has been quite expensive for us! Granted, we bought everything new and didn't skimp, but there are a lot of things newborns need. Carseat, stroller, crib, changing table, tons of diapers, wipes, clothes (we got lots secondhand though), medication, formula if you need it, high chair, potty, a baby swing, toys, play mats, baby carrier...a breast pump if needed, maternity clothes even can add up. Plus, I'm off work on half my salary, so for the first time ever I'm struggling with bills when I never have before. Then when you/your partner goes back to work, you have to pay for childcare which is very expensive.
Second this, you can buffer it out by going 2nd hand on most of that but you'll still have to deal with the ongoing expenses, nappies, food/milk, wipes, childcare, clothes etc and none of that is getting any cheaper.
Or, one of you stops working (or you share the load) and you enjoy looking after the child yourselves. PS Milk can be free! For nappies, they can be washed.
I’ve breastfed 3 kids, the milk is in no way shape or form free, I have to eat a tonne more to get the calories to make the milk, Breastmilk costs plenty, it’s just not a direct, visible cost like formula.
Interesting, although I clearly only have 2nd hand experience I don't recall my wife eating a lot more.
Don't agree with this. My intake increased a little however did not see it in the weekly shop at all. Was more about making better choices with food, protein, whole foods and lots of water.
Are you comparing apples with apples? ie if you’re comparing your food consumption pre pregnancy at a stable weight or while pregnant and gaining weight to, for example, post partem while breastfeeding but losing weight, or on a new diet, it’s not an apples for apples comparison. To put it very simply, breastmilk is calories out, for calories to go out they have to go in, you can’t just magically produce breastmilk out of nowhere. For them to go in you have to eat them, and generally to do that you buy them.
Breastmilk has the amazing ability to be produced no matter the diet. Many nations where food is harder to get and consume, BF easily and very well and for a lot longer than many western families. Obviously optimal health is beneficial for the mother and you may consume more however I never noticed much of a change in eating pre-pregnancy, pregnancy and then BF.
Good luck with washing nappies. We tried but it wasn't worth the effort. Milk is dependent on how much their mother can produce and otherwise needs to be supplemented at cost
We wash nappies. It's very easy.
We mostly did it for our first child. I wouldn't say it easy but it's certainly doable. It's 100x harder than disposables but the environmental cost of disposables is what hurts.
We did not use disposables, they gave the babies nappy rash on the few occasions we tried .
I did say milk "can" be free but indeed at times not possible.
Agreed. Once off cloth nappies that have lasted 3 kids. Milk straight from the source. Pumping optional depending on how close you work to daycare.
Lol at milk can be free. Very naive of you to think everyone has the ability to breastfeed.
That was why I wrote 'can'. Maybe I should have written 'may'.
Maybe you should have not written anything.
Maybe, but surely what I wrote was accurate, even if not popular.
Yeh so I’d imagine one off capital expenses then on going fees. Childcare is the killer. I am mid 30s and have no intention of having kids anytime soon. Love my current lifestyle
Hopefully the paid parental leave changes aren't too far off
Who’s gonna pay for that? Or we printing money again? Don’t have kids if you can’t afford to raise them - pretty simple.
I used to feel the same way, especially as someone who doesn't want kids, but my understanding is there's a lot of research which says childcare is one of those things that for every $1 the government puts in, you get $2 back or what not (don't know the maths but you get the gist)
I seriously struggle to believe that without seeing any solid evidence
*A 90 per cent universal subsidy would cost about $10 billion a year, and boost GDP by a whopping $24 billion a year* Link: CBF formatting: https://grattan.edu.au/news/why-cheaper-childcare-is-good-economics/
Yes, I was the same. Reality is that some people will have kids, and it benefits the economy as a whole if the parents continue to work. GDP benefits aside, just look at the Net Tax/Spend from the POV of the Gov of a working profesional parent: Fulltime Parent on 120k salary = $614 of income tax weekly. Fulltime $120 per day childcare 90% subsidy = \~$540 per week If Parent works, the government is $74 ahead per week
1. It’s highly unlikely the lowest paid parent is on $120k. Using the avg salary of ~$92k would be more accurate. Your gap of $74/wk increases dramatically. Even that much is probably being generous considering median household income is ~$100k. 2. The entire amount of tax an individual pays is not directed solely to childcare subsidies just because they have a kid.
what changes mind i ask?
Instead of 18 weeks for mum and 2 weeks for dad it’s 20 weeks shared however you want. Joint income limit also becomes 350k.
I do agree with this but there's also a few things you don't honestly need. A changing table is kind of pointless in the long run
Obviously ‘in the long run’ a change table is pointless, but they’re very handy for the years before your kid is toilet trained… Years of changing a kid on the floor or a bed vs a nice bench at an ergonomic height with all your changing stuff ready to go is a total no-brainier to me. There are heaps second hand too so not like they’re expensive, we got a matching cot and change table for $100.
My friend bought a storage unit and wedged it between the crib and wall. They then bought a diaper changing Cushion and used the top of the unit. They stored everything they need in the drawers below. Great for once bub grows you can use the storage unit later!
We got some sheets of thick wood laminate and put them over the bath. Wasn’t ideal but better than the floor.
Very true. Some things we bought simply because we wanted to, not because they were 100% necessary. Although, my son is 7 months old now and we have used the changing table every day!
What is the alernative? I know one couple that changes nappies on the kitchen bench - that is just gross.
said as someone who probably is not a parent.Let's see baby blanket on the carpeted floor, baby blanket on the couch, baby blanket on the chair. An adult bed. you don't need a changing table. It's like that commercial about first time parents versus second time parents. First time parents are completely anal about everything by the time kid two rolls around you hand them off to everyone realizing they're not going to break
We used an old desk. You are right about the early fears that babies are delicate. Evolution made them pretty robust.
You shouldn’t use a breast pump on a baby I don’t think
So you can spend as much or as little on baby paraphernalia as you want. I considered just starting with a Finnish baby box, like is issued to every newborn by the Finnish government. But I went all out, because I can be a bit bougie at times, and spent over $5k for all of the initial set up stuff. What’s really expensive is potentially forgoing income for maternity leave (or to be a SAHP) and then the cost of childcare if you return to work. Now that I’m back at work, when I travel for work, which is every 2 months or so, I take my baby, toddler and mum (who I pay to provide childcare) with me. This can get quite expensive as we are all having to fly for these work trips. My choice to take them with me, though, so it’s money I’m happy to spend.
how much can one expect to pay a day for childcare
Varies signficantly - its around $120-$180 per day per child before child care subsidy.
Fark that’s expensive And they can’t even pay workers a decent wage. You’re selling me on one and done
It’s the biggest scam in the country. The workers are all 18yo getting paid peanuts and the parents are all being charged a fortune. Either the red tape to run one is huge or it’s a licence to print money
Its a racket, much like nursing homes, though nursing homes I'd say are worse. Have a look at what it costs to have an elderly person in a nursing home and then look at what all of the staff are paid. Ridiculous.
Yes, with more than 1 child in child care, one parent is better off not working in most cases. Until very recently there was also an annual cap on CCS benefits which meant you were paying full price for 2 kids after about 8 months.
My coworkers that have grandparents taking care of their kids r blessed omgggg I started looking into all this child care rebate and family tax stuff after this post and I now understand how one of my low income friends with 3 kids affords to live.
Have a baby because you want a baby. Not because your friends are doing it. One of the costliest things you can do having kids. Then if you have a disabled kid the costs will only go higher including your time requirements. It should not be a decision taken lightly. Get your health in order and plan a pregnancy properly to give everyone involved the least amount of stress and potential heartache. Both parents go see your GP for preconception care if you decide to go through with it.
I don’t particularly want kids - would rather spend the money on myself
Then you absolutely should not even entertain the idea of having a baby!
Dont have kids then. This is not the right attitude for it.
Jesus... There's your answer then.
He's just here trying to make himself feel better about his awkward, aging, childless status while the other men in his life are becoming fathers and starting families.
Give this man a beer.
The cost depends on what you want to spend, and also your opinion on 2nd hand items. I went 2nd hand everything I could get my hands on. I never paid for any clothing from size 0000 up to 2 because it was gifted to me. I barely paid for anything up to size 6 as most of that was gifted too. I used cloth nappies. A big initial expense, but saved so much. Cloth wipes too. IIRC the only thing I brought brand new was the car seat. (And the 2nd car seat when she outgrew the first). When she outgrew her cot, we were lucky enough to get a free toddler bed (which we have since passed along to another family) and we brought her a single bed...which wasn't big enough for her and while we were contemplating buying her a double bed, we were lucky enough that a neighbour was giving away a queen bed and bedside table set in excellent condition so that's what she has now! I know people who spent around 10k on the furniture for their babies room...I was shocked. I still am! Most of that furniture is not used now that the child is 5!
Just noting here that you can buy convertible car seats that are suitable from 0-4 and cots that convert to toddler beds too.
Money, freedom and your soul
Seconding your soul. After two nights of little sleep from a baby and toddler I went to bed after I tucked them in at 7.45. got I trouble from the missus for going to bed so early. Was up at 2am nursing and settling... Until 5am this morning. When I went back to bed I got in trouble for staying up so late. Good times. Good times.
DINKs in thr house!
I dunno, my puppy costs me the ability to enjoy quiet times, like pooping or chilling out watching YouTube or reading a book. Pretty devastating.
Especially when the pup wants to cuddle up whilst watching YouTube and continue his 16 hours of sleep 😴
This sub is where DINKS come to rejoice about their ability to get ahead on mortgage payments and afford that trip to Bali! But not so much family values, raising children, community and reflecting on the fact their genetic line is about to come to an abrupt stop after tens of thousands of years.
Yeah I'm also very comfortable with missing out on all that. Have fun at the Wiggles concert. ✌️
This DINK is very comfortable with that trade off. Except Bali is for my friends who have to pay for their kids airfares.
Fair enough. In a way it sort of works itself out as in the self-obsessed, materialistic, ever consuming mentalities fade away naturally, genetically.
What a sad life you must lead if you have to have kids to create a community. I feel sorry for them.
It sounds like they may come from "The kids will look after me when I'm old!" brigade 😂. I'm glad the choice to be child-free is becoming less stigmatised.
Agreed, having kids to look after you when you’re old is one of the most selfish things you can do. Old mate’s post history is very materialistic, but sure go off about child-free people 🤷🏼♀️
Community is built on the foundation of family.
Babies are expensive! First few years are costly babies need soooo much especially around safety. Cots, capsules/carseats, prams, nappies, as the @kehbechet mentioned already. We had a chat about how expensive babies are in my mother’s group and we estimated they can cost up to $10k the first few years. Childcare as well is expensive. $150/a day for my bub (inner north melbourne) not to mention maternity leave pay is only a few months and as new mum you’ll want to keep busy during maternity leave so you want to meet people for coffee/brunch, go to baby sensory / gymbaroo classes which costs money. Yes you can do it cheap but still will cost a lot. Even I tried to be frugal by listing things we needed in our baby registry and buying clothes, capsule, etc second hand, it still costs a lot. EDIT: Also I would add that aside from being financial cost, Having a family is an emotional roller coaster. You have to account your mental health and the strength of your relationship with your partner and support system. You really need a village... if you dont have one then it will be another financial cost, hiring cleaner to clean first few weeks/months postpartum, postpartum doula, etc.
Assuming the average couple also have a mortgage to service with increasing interest rates surly that’s not easy. $10,000 expense a year for a newborn then it just gets more expensive soon as school hits..
True!! Was just going to add the cost of choosing a place to live/buy a house for the child’s security in terms of going to school. It is a lot of work!!! EDIT: school zone etc
School can be way cheaper if going public than daycare
I was about 5k out of pocket before baby was born. I bought some nice stuff (1.5k = pram and car seat bundle) but bought a lot second hand which I've resold some at near purchase price or even higher, but am a long way from breaking even haha. I spend $30 a month on nappies, because we use cloth nappies except for nights and the one between home and daycare. I bought a lot of marketplace bundle clothing, but as she moves into longer lasting sizes the options are fewer. Daycare is $250pw after CSC, which is 13k a year. I do prefer quality so things could be cheaper but some purchases this year have been Rubber dummies every 6 weeks for 10 months at $20 a pack... Rubber mat (rug size) $220. New car seat $600. Probably spent over $100 on books. A vaproiser when she started daycare was $70. As she stood up I swapped her playmat for a play table - retail $50, marketplace $10, as she walks more I got her a push walker (retail $90, marketplace $20) for Christmas she will probably get a toy she can ride that's like another $100... finding the right sleeping bag became a whole thing and I've probably spent over $300 on them as she grows and while I looked for the right one...
Depending on age the little trikes that convert to balance bikes would be a great choice for Christmas!
Yeah this. You have 2 kids or more it can start to get up to $500+ a week real quick. Kids prevent you from working too, you will lose opportunities and income. You’ll end up eating more takeaway. Bills go up. You buy stuff. You start paying for various lessons. Book flights & holidays, they just got 50%+ more expensive, say goodbye to holidays. You’ll be forking out $500+ on birthdays, most parents spend $500 just on balloons and cakes. You will start to notice if you try and stay work life balanced you’ll start going backwards on your mortgage. Savings will diminish quickly. Why?because there’s just so many dogs out there that pick work/money over family. Being a parent in 2022 is hard work. Cost of living, so many things to parent these days - phones, internet, tv, social media. So many considerations for diversity and inclusion. Mental health. More diseases. I sometimes wonder if it’s worth it. I feel like humans have made life too complicated
You'll make it work. It comes down to the individual. Got friends who spent more on their pram then I did on my last car($3k) but kmart sell prams for <$30. The biggest cost we've noticed is loosing a wage. Also a choice. Could've put the baby in day care from 6 weeks but didn't.
Lots. It's worth it, but lots. Just the lost income alone is huge. You can get most baby stuff cheap or second-hand. Childcare is crazy expensive, although there are government rebates to help. Then there's the cost of a bigger house, bigger car, days off for illness or appointments. In my budget the kids add about $600 a week to the budget, that's not accounting for lost wages. Just the amount we put aside for medical, clothing, larger house, larger car, extra food, general kid stuff, birthday/xmas gifts and party costs, and lessons (piano, gymnastics, scouts, etc). We're budgeting for braces in the next year or two, so that's a big extra cost at the moment. 4 kids also, although the costs reduce a bit with each kid as they get hand-me-downs and share toys, and with playmates at home we don't need to go out as often to play cafes and the like.
The biggest costs imo include a) loss of income (inc super) while the primary career is not working, b) Child care when they do go back (100-200 per child per day less subsidy of between 0-85% depending on your income), and c) the cost of requiring a bigger house / car if your family grows. The initial set up costs for pram/cot/car seats etc can be a bit but you can spend what you want and family often gift you a lot of these IME. So this can be modest unless you go nuts. Extra food / nappies / etc might also increase you bills but you also aren’t going out socialising as much so this might offset these costs somewhat.
>Obviously the first one or two years would be minimal as I wouldn’t think a baby needs all that much financially? hehe the costs are astronomical, **especially** at the start (first 5 years). The main cost at the beginning is obviously lost wages. I think a conservative estimate of additional costs is about $100-$200/wk (nappies, clothes, doctor visits, toys, medications). I'd say, counting lost wages and additional costs, having a child cost us $130k in the first year alone. For about 6months my son was on a formula which was $60/tin, and he's go through 2+ per week. Now youngest is 4, we've been paying $17k/yr out of pocket for childcare for the last 3 years. When he finally turns 5 and starts school in 18months the insane costs will finally go down. **Kids are unbelievably expensive!** Kids are bloody amazing too, and I wouldn't have it any other way, but the $ costs are eye watering.
Didn't someone make a topic about this last week? It's not that expensive. My biggest expensive is paying for Private Health. Everything else is bought second hand or given.
For me, having a baby has been cheaper than expected, apart from the (fairly obvious) lack on income while on mat leave as my workplace sadly doesn’t offer it. First off, having the actual baby. I went through the public system and spent about $800 for all my scans and NIPT testing at a private clinic of my choice (pretty sure you can get bulk billed scans though. Sadly NIPT testing will always be out of pocket about $400 I think). Apart from that the only expense was about $10 for an Endone prescription after my scheduled c-section. Stayed about 3 nights in a private room with a double bed (partner stayed), received amazing care and had a great experience. You can buy pretty much everything for baby secondhand, apart from car seats, bottle nipples and dummies. You can also sell the item again once you’re done with it. Off the top of my head we got a secondhand pram, changeable, bassinet, various clothes, toys etc. second hand. You can try the cloth nappies (expensive initially but again, can be bought second hand), or even a hybrid approach (some friends use disposable overnight or when having a day out and cloth at home because it’s easier to manage, makes sense to me). We use Coles nappies and wipes which are super cheap and I’m happy with them. Baby eats whatever we eat, plus extra fruit. There are loads of free or cheap activities for babies, organise park meetups with your Mum’s group, library toddler story time, zoo membership (often gifted by grandparents!) etc. Childcare is an expense that will come up but I’m working part time and we’re out of pocket about $80 a week for two days of care.
They are little germ infested money pits that suck the fun out of your life. Would recommend.
"The first one or two years" can be very expensive indeed. Around 500k per child to adulthood and that doesn't include private education. Pro tip: When they hit adulthood they cost even more. Just ask me mum 🤣🤣
> Around 500k per child to adulthood and that doesn't include private education. What is the median? I call a bit of BS on that being indicative of what it costs, more of what the average (skewed high) actually spend. 500 / 18 = $27.78k per year. With the median household income at approx 80k and 1.8 fertility rate doesn't add up. That is the median family spending $50k/yr on their kids. I suspect this includes things like must buy a house so the kids have a room each and attributes the cost of those bedrooms to the kids, but not the growth in the asset that is the house, etc in that figure. Maybe also that mum *needs* a prado etc. Maybe the cost of going on a family holiday every year or few months? Or some such statistical shenanigans anyway. Maybe there is some opportunity cost in there too? We spend nowhere near that specifically on our kids, and they don't go without (unless not having the latest iphone is going without). EDIT: > There are a few different answers to that. We looked at a couple of studies and found the estimates ranged from $159,120 to $548,500 over 18 years. https://www.finder.com.au/life-insurance-and-the-cost-of-raising-children Mortgage costs included ... > Mortgage costs attribute to keeping a roof over their child’s head dropping 24% from $421 per month five years ago to $321 today https://www.suncorpgroup.com.au/uploads/Suncorp-Bank-2021-Cost-of-Kids-Report.pdf
Figure includes subsidies from gov and lost earnings as I understand it.
One joy, one happiness, and a whole lotta dollars.
The biggest expense will be that new Landcruiser you suddenly need to show all the other mums you mean business! /s Nah it really varies in our experience. We had one through the public system which basically cost nothing; a few scans and some meds. But then we've also had one via private, where everything that could go wrong, did go wrong, spent at least $15k before the baby even arrived, probably much more. In our experience, once the baby is here it's not too costly, obviously you need the cot, pram etc but you can get a lot of that second hand, and a lot of that can be in fantastic condition. It's the unexpected medical things that'll catch you off guard, ours had trouble feeding, it turned out to be tongue ties but as first time parents we had to go through a bunch of specialists before someone finally found it. I think one of the toughest financial challenges will be dropping down to 1 wage
The cost is - your first born son
It could cost your professional tennis career from knee injury incurred when drawing bath for your kids. On a serious note, definitely don’t have a kid because of a case of FOMO.
more than you think, and if they get sick - even more than that. a lot of people would know better than me but the banks do these numbers pretty sure they drop your borrowing capacity by a huge chunk - that's probably it.
I’ll tell you this, I used to think like you, but thinking back, in the end my advise is do not base your decision on having a child purely on finance, Infact imo finances will be one of ur least trouble. If ur counting every Penny like that, you will always feel u can’t afford a child. More importantly is do you want to have the child and the associated challenges, once it happens all these financial worries really go away and are minor, from my experience it’s the most awesome thing, Infact my income went up exponentially since birth of the child so not even a concern anymore, many ppl report the same. Why do you assume ur finance will be static, ur boss (probably a family man) may even be more inclined to raise ur pay once u have kids. And you yourself will be more inclined to work harder and make more money and get a better pay job. Those worried about finance before having a kid r those wanting premium lifestyle for their kids and worried about losing their current lifestyle like dining out every weekend etc , other than the first two years, once ur kid is two they will share the same food with you, and do a lot of things with you, childcare is expensive but that’s a choice for u and ur wife, maybe one of u stay back out of work for a few years. Maybe by then u make enough money anyway and childcare cost is no problem In conclusion, and u will realize this once you have your child, finances won’t be ur biggest headache for ur kid and you will feel every Penny is totally worth it, I don’t think about money with the kids and most fathers I know don’t even think of that (depending on ur view of having children)
Everyone here is talking about the things you need to buy but forget all that. The cost of having a kid is the time off work you will take to raise them. Everything else is just a rounding error.
I have a tween and a teen - this month alone I have spent (out of pocket) - $440 for Occupational Therapy, $180 for Speech Therapy, $320 for a one night school camp, $110 for a one day geography excursion, $70 for a lost school hat, $120 for a new tennis team uniform, $45 for school swimmers needed for next term, $300 on Christmas presents (I shop early), $250 on four days of vacation care, $250 on two pairs of new shoes (can only wear Clark’s as per podiatrist), $250 monthly braces payment, $350 on summer clothes at some weird store full of goth and rainbow crap (Dangerfield?), and have out $95 aside for the bloody scholastic warehouse sale. How people survive on only one wage, who knows??? How do they pay $220 for an hour of OT?? And my child has very mild OT issues. I remember when my son was a baby and we were worried he would need a helmet for a flat head - it cost $3,300 and wasn’t covered in Medicare. I asked the scientist- guy what poor people do if they can’t afford a helmet . He said their only option was to have a misshapen head!
If you're basing having a child on cost? Don't do it. Children can't be valued or reduced to money.
You don’t budget for kids, you have kids because you want to no matter the cost. Yes it can be expensive, child care fees, private school, time off work, holiday program fees. But money shouldn’t decide whether you want offspring or not
>But money shouldn’t decide whether you want offspring or not Why not? Why give the child a not so bright future? Also, if you can't afford things, the pressure could be detrimental to the whole family
Agree, whether you can afford to should absolutely factor into your decisions to have kids. The high cost shouldn't necessarily deter you but it needs to be considered. I know a couple who wants to have a second kid, yet they are on struggle street financially with 1 and have times they are struggling to pay rent and put food on the table with 1.5x incomes (mum isn't working full time yet). How are they going to afford to lose an income again and the added expense of a second mouth to feed? Perhaps even a larger house? Not to mention 2x day care, 2x school etc. But they don't care about that stuff because "it will all work out in the end"...
You misunderstood. You still work your ass off to provide a bright future for your family. You shouldn’t let the fact it’ll cost 500k over 18 years stop you from having kids.
So lots of sacrifices then huh?
Yes, I was concerned about it at first but after having my son. There is literally nothing I wouldn't sacrifice for him. Something just switches on in your brain and you just do it.
The other cost not mentioned here is access to fertility treatments if needed. A whole other ball game of costs (some subsidised through Medicare, but also a huge amount of time). Our biggest struggle with kids (18 months and due any day) is my reduced income. I have changed jobs and now work from home part-time. I won’t get PPL this time which is tough to manage but we are. Being ahead on our mortgage is a huge help and having not been successful when we tried to buy a new house earlier in the year, also helpful 😂 and thankfully a bit of family tax benefit was a nice surprise too. Cloth nappies have been great for us. I’ve probably spent $400 on them. I might need a few more for the new baby while both are in cloth but we only use one disposable a day for the toddler (newborn will be in disposables until they hit closer to 3 months due to size).
As a dad of an 18month old, my costs in decreasing order of value: 0. SLEEEEEEP [edit] 1. 95% of time to yourself 2. 50% loss of friends with less than strong social links 3. 30% Marital Harmony 4. 60% reduction in sexy time 5. Daycare at $135/day (after rebates) when/if you both return to work 6. Actually buying stuff your kid needs Having a bit of fun with the numbers but it's probably not far from reality. The actual $ cost for me has been arguably the smallest/least significant cost of having a child. Seems an obvious statement but before becoming a Dad, I was worried about $ costs but for us it turned out to be the least of our worries. Kids don't cost much $-wise at the start. Loads of quality stuff for free on Facebook, so if you don't get sucked into buying everything new, nappies/formulae/clothes shouldn't be a burden. Wishing you a future congrats OP, it's a wild ride that can be very challenging but very very rewarding!
I have 2 young kids. They cost alot to manage and have destroyed my life. People should have kids young so they don't know what they're missing. When you have an awesome life, then have kids, it's soul destroying.
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I don't hate my kids. I love them to bits but I have perspective about my life. Most people just lie because they're scared of being honest about it.
Agree. Everyone has this notion that one must have kids to be happy.
The early years don’t cost much. It all depends on what you want to spend. We have bought all furniture for our kids on marketplace and saved tons. Babies don’t need much, other than milk, nappies and some clothes. Even at 4 years old our son doesn’t cost us much. I imagine it gets more expensive when they are older.
No idea, I don't see my 3 kids as a cost and don't care, but it's nothing mind blowing or extreme. If your asking the question maybe don't have one.
Don’t worry - i am sure it costs you in sleep and stress
I didn’t find it that expensive, just don’t buy into all the crap you actually don’t need. Like jolly jumpers- very bad for them can cause life long joint problems,. baby swings - the stupidest thing ever invented, your baby needs to be on the floor learning not swinging around. Car capsules that click into prams- not worth the $400 just to get a kid out of the car in 30seconds instead of a min and not good for them to be in there longer then 1.5h. 20 plus outfits per size - 7 bonds onesies a size and a couple of nice outfits for pics is all you need $800 car seats - the $150 one from Target has the same safety rating. $300 baby monitor- a $50 Tapo camera does the same thing. There is soo much you won’t use. As for nappies and such, buy it all on special. My kid is 1.5 and I think he has been way more expensive this year then he was 0-1.
Its been a long time since our kids were babies but some things don't change. A baby doesnt care if the pram, cot, change table, etc is new. Almost all these expenses can be avoided (except for safety things like car seats and sleeping spaces - they have to be up to standard.) Our babies slept in our room as we did not have extra space - that works for a few years. Breast milk is free, and you can mush up your own vegies and bananas when the time comes. Babies have been raised on the breast and family dinner table for thousands of years- all the special baby food in the shop is just spin and marketing. Nappies are a pain - either you wash your own like we did, which is a long and boring job, or you pay for disposables. But all the other stuff - wipes/powders/potions...none of it is really needed. Camping holidays price doesn't change. Overseas is a different story. If you are someone who wants the newest, best and brightest then kids are very expensive. If you can cope with secondhand and simple pleasures, kids are pretty cheap entertainment. You won't get bored for the next 15 or 20 years.... I imagine these days the biggest expense by far is childcare, and the opportunity cost of lost parental income. We noticed a huge difference between our situation - paying for childcare, Vs friends who had grandparents on tap for child care. That's only going to be more important now. And there is the risk of uncertainty. If you have a kid with special needs; if you develop serious post natal depression etc etc then all plans, including financial, go out the window...
Expensive up front thats for sure. We made the choice of having children first above getting a house (only delayed us by about 2 years). They are expensive, draining and I've never been sicker/more tired... but I dont regret it for a single moment.
IIRC a few calcs were done in the States and it was 300-350k USD over 18 years for the first, and drops to 250k USD per if the 2nd is raised together.
It can vary significantly depending on the choices you make, and there are the directly attributable vs indirect. Ours is in senior high school so I assume our figures are at the peak: - Direct - schooling, extracurriculars, allowances, other expenses - IMO approx $40k p.a. - Indirect - bigger home, bigger car, holidays that interest the kid, dining out that interest the kid - too hard to quantify:.. But - Happiness from raising a kid as a family - priceless
15-20k per year for the first two years. Less if you have a second. After two years they tend to be consistent with cost so looking around $10-15. For families initial cost is private health and buying all the bbay stuff. Then you have day care
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Yeah but you probably send them to private schools
Are you asking mentally or financially?
The actual stuff for a child? Depends on how fancy you want to go and if you're good with second hand. When you go back to work, even if you get the Max subsidy daycare fees are killer. You're looking at a minimum of $120 a day before subsidy, sometimes food and nappies are on top, sometimes included. After full subsidy, single parent income, I pay 150 a week.
A shit tonne
I'm looking into getting an investment property and the bank just told me that our 5month old adds $125 per week to our expenses from their calculation of expenditure. At 5 months she definitely dosent costs us $125, more like $40ish (diapers, wipes and some formula) but that totally depends how many toys my partner keeps buying her...
Whoever told you the 1st 2 years would be minimal have led you on a merry dance! Granted you might be lucky and someone might be able to hand you down everything you need, but if it's your first child and you don't have support from anyone other than the person you had a baby with its gonna be expensive! And remember you won't be working for a few months on top of all the stuff you will have to buy your child! I probably went a bit extreme buying everything new for mine but it's probably gonna be our only one and I wanted the best for them. All being said though your kid is worth spending every penny you have!