After we had our second son, my husband and I realized just how expensive having children has become. I had my first baby in 2004, and eight years later things are much higher than I expected. Our son just turned seven weeks old, and since he has been born we have spent a tiny fortune on caring for him. These are the things we have spent money on, and our projected cost over the next year.
Right now our baby is only on formula, but that will soon change. We are purchasing one large can of formula each week. The individual can retails for $16 including tax, which brings our monthly expense to $64. We need to purchase nursery water twice a week, which costs $2 for two gallons. The water costs us $8 a month. As he grows bigger, baby cereal and food will be added in. There is no way to know exactly what it will cost a month, but from my previous experience with my two older children, I plan to account for an extra $20 a month for the last six months of the year. After everything is said and done, we will roughly have spent $984 on food alone for our son.
Diapers are something you can never go without, and there is not much room to save on them. Right now we are spending $20 every two weeks on diapers. That will increase to $20 per week in about four months. The first six months will cost $240, and the second half of the year will be $480. If we add in our diaper wipes expense, that is another $8 a month, or $96 a year. All told, we are going to sped $816 a year on diapering our son.
There are many other things that our son will need including clothing, medicines, co-pays for the doctor's visits, and some other things that will pop up out of the blue. It is never easy to estimate what a child will cost, but food and diapers are a cost necessity. Right now we have spent a pretty penny in the last seven weeks since his birth, especially because we saw the doctor every other day for two weeks. Right now, we are looking at our son costing us $1800 during his first year. It will definitely be more, but that is the bare minimum.
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