There’s some relevant Mr. Money Mustache stuff on having kids “on a budget”. He suggests $300/month for a kid, which is substantially less. But I’d guess that he’s just missing something, because I expect you do much of the things he already suggests.
They’re talking about having one parent stay home. In opportunity costs that’s several thousand dollars. As my wife and I both get paid several times what daycare costs we’d pay for daycare instead. There’s also housing: a kid roughly doubles our housing needs.
(But we haven’t done this yet, and don’t know what our real costs will be.)
There’s some relevant Mr. Money Mustache stuff on having kids “on a budget”. He suggests $300/month for a kid, which is substantially less. But I’d guess that he’s just missing something, because I expect you do much of the things he already suggests.
They’re talking about having one parent stay home. In opportunity costs that’s several thousand dollars. As my wife and I both get paid several times what daycare costs we’d pay for daycare instead. There’s also housing: a kid roughly doubles our housing needs.
(But we haven’t done this yet, and don’t know what our real costs will be.)