Are you thinking of adding a new member to your family? We were stunned reading this Yahoo article which found that the average financial cost of a new baby could reach as much as $31,833.58!
Here's a breakdown.
- The essentials during the first year, like an infant car seat ($80), carseat carrier ($85), nursing chair ($200), and bouncy seat ($65), among other things will cost a total of $3,989.
- Traveling with a new member of the family brings additional costs, including crib rentals, and extra costs to check luggage and strollers for flights. Cost of one-year of two plane trips: $420.
- Career & childcare are one of the most costly additions to a family budget after having a child. Not surprising, childcare isn't something to skimp on, as the health and well-being of your baby is in the caretaker's hands. The total one-year cost of full-time daycare: $24,000.
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