How much does a baby cost in the first 2 years?

Just consider: According to a 2010 USDA report, the average middle-income family will spend roughly $12,000 on child-related expenses in their baby’s first year of life. By age two, parents are up to more than $12,500 per year.

What is the average monthly cost of a baby?

The average cost of infant care (for children 2 and under) is approximately $1,275 per month or $15,300 annually. The average cost of child care for pre-school children (from ages 3 to 5) is $850 monthly or $10,300 per year.

How much does it cost to raise a baby per year?

In its Expenditures on Children by Families report, the USDA puts the cost of raising a child from birth to age 18 at $233,610 for a middle-income family (married with two kids) — around $12,980 per year.

How much should you budget for a baby?

If you’re new to budgeting, we recommend divvying up your income with the 50/30/20 approach: 50\% for needs such as household bills, minimum loan payments and expenses such as child care, diapers and formula. 30\% for financial wants.

Is having two kids expensive?

Is having a second child more expensive? The cost of having a second child is a concern for many parents. If you’re already a parent, you’ll hardly be surprised to learn that families spend an estimated $233,610 on child-related expenses, which breaks down to about $12,978 a year, or roughly $1,082 per month.

How much money do I need to have a baby?

A normal pregnancy typically costs between $30,000 and $50,000 without insurance, and averages $4,500 with coverage. Many costs, such as tests that moms who are at-risk or over age 35 might opt for, aren’t totally covered by insurance. Plan to have at least $20,000 in the bank.

How much do babies cost?

The average price of having a baby through vaginal delivery is between $5,000 to $11,000 in most states, according to data collected by FAIR Health. These prices include the total duration of care, the obstetrician’s fee (including prenatal care), the anesthesiologist’s fee and the hospital care fee.

How much does it really cost to have a baby?

Be prepared to pay a lot of money for that cute little bundle. For example, parents who have a child today will spend, on average, $284,570 by the time the baby turns 18, according to Department of Agriculture (USDA) data. 1 

How much does it cost to raise a child in India?

This is estimated to be around Rs 2000 per month or Rs 24,000 in a year. As your child continues to grow, you will need to budget for clothes and toys for your child. This can be around Rs 60,000 during the period (40,000 + 20,000)

How much does a baby shower cost in India?

Rituals such as baby showers (godh bharai) can cost anywhere from Rs. 20,000 to 1 lakh depending on the number of guests and the scale of the celebration. There are some optional expenses too, which are not taken in this calculation. Let’s look at a few key expenses in this stage.

Is it cheaper to have one child or two?

For married-couple families with one child, expenses averaged 27\% more per child than expenses in a two-child family. For families with three or more children, per child expenses averaged 24\% less on each child than on a child in a two-child family. This is sometimes referred to as the “cheaper by the dozen” effect.