Cost Of Raising A Child Essay Examples

The cost of raising children seems to have a very high price tag to it. This price is determined by basic needs of the child from birth, societal pressure, costly services and desire for a comfortable lifestyle, among other things. There are those items that are considered essential to a baby while there are other items that become a necessity, depending one’s lifestyle. All these put together, make having a child an expensive affair which then impacts on the number of children that families can afford, and further impacts population growth.
According to the estimates given by Baby Center, going by average services and goods, it would cost a family about 10,000 USD to raise a child in their first year of life. This estimate is still very high above what many families can comfortably afford. Even when one compromises by choosing the most basic items, the cost still comes to a whopping 7,000 USD a year.
The cost of bringing up a child is spread across food, childcare, dressing, savings and activities. The highest cost goes to childcare, which depending on what one chooses, between nanny, daycare and occasional baby sitter. This cost is an unavoidable one, especially for working parents. Recurrent expenditures like diapers also drive the cost further. Other items that drive the cost of childcare up are equipment and furniture which are bought one-off.
Saving for the child’s future is also an important investment, which further increases the cost but is a good cushion for future expenditures like college. Medical expenditure/savings also costs much. In the estimates provided, there are other luxuries like strollers and play items which parents with limited means can opt to substitute. Generally, the study brings out the expenses in child upbringing, revealing how costly it is.