When people think of how much children cost, the first thing most of them will imagine is the hospital bill when the child was born. While most insurances will cover the cost of the birth, the hospital bill is just the tip of the ice-berg. For the next 18 years, your child will run up quite a hefty tab.
1. Food - For the first couple of years, the impact of food on your budget will actually be fairly minimal. However, as soon as the child gets his or her teeth, the food bill could increase by 50% or more. Coupons can lessen the blow to your finances.
2. Clothing - As most people give infant clothing as a present after birth, your baby could have more of a wardrobe than you do. However, that will be short-lived as soon as the child is in his or her toddler years. Slowly, the costs of clothing gain strength and power like a hurricane marching across the ocean.
3. Diversions - Toys and games are quite common place in a house with children. This is another aspect that grows in cost as the child gets older. However, many children can be satisfied with fun items bought at thrift stores, yard sales, and sites like eBay.
4. School Events - In order to not alienate your child from social activities, you'll have to bear in mind the costs of school events. Involving your child in scholastic programs could help his or her development with social interaction. Having a budget for this is a small price to pay for a socially developed child.
5. Bedroom Furniture - From a basic wooden crib to a king size bed, your child will outgrow everything in the bedroom. Pillows, blankets, desks, chairs, and more can easily rack up a hefty bill in terms of furniture and comfort. Again, yard sales and thrift stores could be a blessing.
6. Kitchen - Do you have enough dishes and silverware for a family? Children are clumsy and could cost you quite a bit in replacement dishes. Buying plastic is not only cheaper, but can survive a tumble to the floor when a child misses putting it in the sink.
7. Soaps - Laundry and personal hygiene products will also be affected by having a child. If the child has allergies, then you could be spending more money on hypo-allergenic products.
8. Utilities - As soon as your child is able to walk, the utility bills will begin to climb. Whether it is electricity use in a bedroom, water for showers and toilet use, or gas for keeping the family warm, all the bills will increase. Look towards energy saving products to lessen the burden.
Although children can cost quite a bit of money, they are worth the investment. By planning your finances well, you can reduce the amount of money you spend annually on many aspects of a child's needs. Government sponsored services can help reduce the costs as well if a family can qualify. Budget your money wisely and all will be fine.
Author Bio
Nancy Parker was a professional nanny and she loves to write about wide range of subjects like health, Parenting, Child Care, Babysitting, nanny, www.enannysource.com/etc. You can reach her @ nancy.parker015 @ gmail.com
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