My wife thinks she'd like to be a stay at home Mom when we have kids. I'm all for it, but I want to make sure we can swing it financially.
How much do kids cost (especially during the younger years) for LBYMers? Some monthly expenses I can think of off the top of my head I think it will be:
Health Insurance - + $300
Formula/Food - what's the range for this (from breast feeding to specialty formula)
Diapers - no clue how much they are
Clothes - will probably get some hand me downs and gifts
Toys & Books - mostly use hand me downs and gifts
Childcare - ~$500 - $1,300 but won't need if my wife stays at home
I'm sure I'm leaving some stuff out. I'm not as concerned about one time expenses like cribs and car seats but what are some other monthly expenses?
How much do kids cost (especially during the younger years) for LBYMers? Some monthly expenses I can think of off the top of my head I think it will be:
Health Insurance - + $300
Formula/Food - what's the range for this (from breast feeding to specialty formula)
Diapers - no clue how much they are
Clothes - will probably get some hand me downs and gifts
Toys & Books - mostly use hand me downs and gifts
Childcare - ~$500 - $1,300 but won't need if my wife stays at home
I'm sure I'm leaving some stuff out. I'm not as concerned about one time expenses like cribs and car seats but what are some other monthly expenses?