The Costs of Expanding Your Family

July 30, 2015
Is it really possible that your little bundle of joy will cost you around a quarter of a million dollars even before you send them off to college? If you are thinking of having a child, there are a few things you have to count on being in your future, financially that is.  Not to mention the surprises we didn’t count on along the way.  Let’s talk about the big things that are definitely going to come our way. 

Before we even get to meet our precious baby we have the expected cost of delivery, about $3,200, and also around the same amount to the delivery doctor and prenatal visits if you don’t have insurance. If you are lucky, you will have a perfectly healthy baby and they won’t have to stay in the hospital any longer than you have to. If not, add on a few more thousand to your hospital bill. 



Even if you make it out of the hospital without any serious illnesses, you will want to budget for trips to the pediatrician’s office for numerous wellness checks, and be prepared to make emergency trips for ear infections, colds, and viruses along the way. Once they hit daycare, the germs will be everywhere as their immune systems adapt. And while we’re on the subject, health care costs are another one of your big expenses. Health care is costing us more and more every year. You thought your health care was already outrageous? Try adding on another family member to the equation. 

Speaking of daycare, there is one costly but important decision to make for your own sanity and the well-being of your newborn.  If you can’t be around all the time, you want to ensure that the people watching your new bundle of joy are the best for the job.  This can often come with a large price tag.

Before baby, were you renting an apartment or do you live in a place with only one bedroom? Time to upgrade! Housing is one of the largest chunks of money that will go toward your children over the course of their adolescence. Adding more than one child? Keep those bedrooms coming! Living in Florida means you always have to have at least one guest bedroom. That takes us to a four bedroom house with only two kids. Talk about an electric bill!

If you are anything like my family, you love going out to eat, which really adds up. If you have made the leap toward more healthy foods, then you know that your shopping bill has already gone up significantly. With breastfeeding and having a new little mouth to feed, we want to do whatever we can to make them as healthy as possible, so time to dish out that extra cash to make it happen. If you aren’t breastfeeding, you didn’t get out of any extra expenses, you instead have to take that money to the formula aisle, and trust me - it isn’t cheap.

With your new shopping bill, it’s not just food to consider, how about clothing and the consistent expense of diapers. Did you know that over the first two years of life, you will go through about 6,000 diapers? Don’t forget the wipes; you will need a few of these at every diaper change too. Other considerations include balms and ointments, the cloth diaper route, sanitation, and so much more.  Each choice brings its own set of costs.If you are anything like my family, you love going out to eat, which really adds up. If you have made the leap toward more healthy foods, then you know that your shopping bill has already gone up significantly. With breastfeeding and having a new little mouth to feed, we want to do whatever we can to make them as healthy as possible, so time to dish out that extra cash to make it happen. If you aren’t breastfeeding, you didn’t get out of any extra expenses, you instead have to take that money to the formula aisle, and trust me - it isn’t cheap.

Last but not least, travel expenses. It’s no surprise that something such as gasoline would make the list. Although gas doesn’t top the charts as it has in previous years; along with repairs, insurance, and other transportation costs, it still makes our list.

Keep in mind, these are only the big things we can definitely account for when it comes to adding a little one into your family. There are many other surprises in store for us along the way, financially, which can really add up. Luckily, all these costs come with the endless love of a child that’s worth every penny. 


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