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shesus · 08-23-2005, 08:56 AM

My family keeps asking the dreaded question: When are you going to have a baby? Well, for one I'm not too keen of the thought of motherhood. Second, how would I afford one? I have no family around to help me out with childcare like my other relatives who get it for free. I was talking to a friend and she is paying $1200 a month for childcare. For the parents out there, how do you afford to be a parent? To back up my argument, I supplied a snippet of an article the entire article can be found at: http://moneycentral.msn.com/content/...ids/P37245.asp

Quote:

Raising your quarter-million dollar baby

Children are priceless, but raising them is probably the most expensive thing you'll ever do. Here are some strategies and tips that may help.

By MSN Money staff

Every newborn child is a bundle of joy. But you better have a bundle of cash on hand if you want to raise one.

For 2004, the newest data available, the U.S. Department of Agriculture estimates that families making $70,200 a year or more will spend a whopping $269,520 to raise a child from birth through age 17. Higher-income families in urban areas in the West spend the most, $284,460.

Though not as steep, the figures for lower-income families are just as unsettling: $184,320 for families earning $41,700 to $70,200 and $134,370 for families making less than that. That breaks down to nearly $15,000 a year from birth to age 2 for families in the $65,800 -plus income bracket. As your child ages, he or she gets even more expensive, topping out at $15,810 from ages 15 to 17. This is no back-of-the-envelope guesstimate. The survey involves visits to, and interviews with, about 5,000 households, four times a year.

Nor is there much in the way of cost-effectiveness for larger families. With an older child of 16, the USDA study says, a family with a second child under 2 lays out $20,740 for the both of them each year, with the numbers growing progressively as the children get older. With three children -- the two older ones being 16 and 13 -- a third child aged 2 years or less rings up an annual bill of $24,160.