Black Parenting : What's the cost of raising a newborn?

Discussion in 'Black Parenting' started by Asomfwaa, Jul 3, 2013.

  1. Asomfwaa

    Asomfwaa Well-Known Member MEMBER

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    For new parents,

    What amount of money would you advise the new parent to set aside weekly for the care of a newborn?

    How do you break down those costs?

    Do kids get cheaper or more expensive over time? In what way?
     
  2. Asomfwaa

    Asomfwaa Well-Known Member MEMBER

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    ""Our day care expense for just our older son was over $1,000 a month," Sutton says. "If we had put our younger son in day care as well, it would have been about $2,200 a month. That was more than our mortgage payment.""

    I was hoping for a more weekly and more personal account. I'm obviously not going to afford no $1,000 a month daycare.
     
  3. MsInterpret

    MsInterpret Well-Known Member MEMBER

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    It all depends on where you live.
    How much you as a parent want to spend on your child.
    Things to consider
    Diapers are you using cloth or disposable?
    Types of baby food.
    Breast feeding or formula...And how long are you going to breast feed till you switch to formula?
    Daycare expenses? Are you going to use a privately owned, friend/family member, etc?
    Do you have medical insurance or are you paying out of pocket? Smart to have insurance.
    Medication.
    Clothing...babies grow fast...excuse me kids grow fast...my daughter is almost ten and we're always getting her clothes cause she out grows them in a matter of months.
    Toys.
    Crib...eventually you'll have to buy a bed...or are you going to get a crib that turns into a day bed?
    Car seats...babies out grow them and then eventually need booster seats
     
  4. MsInterpret

    MsInterpret Well-Known Member MEMBER

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    Don't bring a child in the world if you feel you are not financially ready.

    There is no exact cost of raising a newborn...unless you're temporarily going to raise a newborn and not raise them after the age of 1....You'll be raising a person...the money never stops coming out your pocket for your child.

    My daughter is probably more expensive now then she was when she was first born.

    Considering she plays sports, clothes, she now wants electronics for her birthday and holidays, movies, birthday parties are more expensive...her's is coming up and she's going to camp...first day of school and pictures she gets her hair done.
    Gas, have to pay for that cause you need to get her places...
    Not to mention she'll eat you out of house and home.

    All you hear is..."I want..."..."Can I have...?"..."I'm hungry..."
     
  5. NNQueen

    NNQueen going above and beyond PREMIUM MEMBER

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    The cost of raising children depends on individual circumstances.

    If you have a high income, you may spend more. If you have a moderate to low income, you may spend less.

    There are low end costs to high end costs for products and services.

    I've often heard people say they didn't know they were 'poor' until they reached adulthood and was out on their own paying for things.

    There's always the question of quality over quantity when it comes to raising children.

    Style vs. substance is another way to think about parenting. What is more important when investing in our children.

    Don't overlook the value of extended families that can assist in raising babies and save you money at the same time.

    Nurturing children in a loving family is priceless.
     
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