What Do Kids Cost - Minimum
This was the absolute minimum out of pocket I could envision to raise a kid. This requires that one parent take on the job of a full time caregiver. Having a stay at home parent is a HUGE cost savings, especially in the first year of the child’s life. Some of the numbers may be unrealistic, but I tried to cut everything to the bone.
Birth Medical Bills 5000
Furnishing Nursery / Baby Supplies 2000
Car Seat 250
Formula or Breast Pump + Parts + Effort (first year) 200
Furnishing Bedroom at age 4 1000
Health Insurance / Co-pays 200
Child Tax Credit 2000
Standard deduction effective "bonus", depends on tax bracket 1000
Jan. 30, 2020, 8:26 p.m.
Dec. 6, 2019, 8:47 p.m.