Stop here every day for a new question and answer, practical help for busy parents.
Question
I want to have a baby, and I’ve heard it said that three can live as cheaply as two. About how much does it cost to raise a child?
Answer
Your question has no simple answer. Costs vary depending on where in the country you live. Within broad regions, costs vary from city to suburb to country. And perhaps most importantly, you control the costs by how much you spend. That last sentence sounds simplistic, but at its core, your income and willingness to spend it has a huge effect on the costs of raising a child.
With the help of babycenter.com’s cost calculator , let’s consider a couple possibilities.
Example 1: Suppose you live in a city in New England, you’re not a single parent, and your annual household income is between $57,920 and $100,290. If you conceive today, that child could cost you just over $261,000 from birth to age 18, with $13,670 spent the first year. This estimate factors in costs for spending on a larger place to live, food, clothing, health care, transportation, and child care.
Example 2: Suppose you live in a rural area in the South, you’re not a single parent, and your annual household income is below $58,000. That same child will cost just over half as much, roughly $134,000 through age 18, with $7,300 spent the first year.
These estimates reflect more than just basic costs for your region. Wealthier people tend to spend more on their children, and the projections ramp up spending based on income. However, if you want your baby to wear fancy duds or attend a ritzy day-care center or play the tuba or attend a pricey sports camp, etc., ratchet up the costs.
Good money managers can control their costs. After all, babies who don’t walk really don’t need Gucci baby shoes , and believe it or not, you can wash a baby quite comfortably in a sink, rather than spending the money for baby bathtub. Hint: Cost-conscious consumers should start by considering the products and services they can provide for their baby without buying anything new.
The numbers I listed above are little more than rough estimates, and your mileage will certainly vary.
I will close with one last comment, drawn not from the calculation methodology discussed above, but from personal experience. Whoever told you three can live as cheaply as two is fibbing. Big time.
Question
Should little kids wear name brands like Aero and A&F and Hollister? My niece just turned 9, and for her birthday I got her T-shirts with the store logos. My Grandma started throwing a fit and said I need to take them back and get the girl a baby doll or something more age-appropriate because it will make her mature faster and she will get pregnant at 13. This upset me because I spent a lot of money on the shirts and my niece loves them. What do you think?
Answer
I think your grandmother is right that the clothes aren’t really age-appropriate because of the images generally associated with the brands.
I think your grandmother is wrong to assume that wearing the shirts will drive your niece to a life of debauchery.
And most of all, I think the decision about what the girl wears must be made by her parents. Not her aunt or her great-grandmother, but her parents, the ones responsible for raising her.
I took the long way around to get to this, but the destination is clear. Your responsibility in this matter is over, so you no longer have a stake in it. Nor does Grandma, unless she wants to take the matter up with the girl’s parents. If the parents don’t like their daughter wearing the branded apparel, respect their opinion and don’t buy any more. If they don’t say anything, then you’re in the clear.
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