Kid Calculator

So the USDA released it's annual "Cost of Raising a Child" report. This supposedly tells you how much, on average, it costs to raise a child from birth to the age of 18.  Because we all know that they are free after that.

Happy 18th birthday!  Get out!

I happened upon this horror story while eating lunch today, and needless to say, my calorie intake took a hit.  I couldn't finish eating.  $226,920...is that all? 

This is my Tuesday outfit

Better yet, they give you a calculator which uses geography, income, and the number of parents in the household to figure out what your kid would cost.  Does it cost less if we bring in more parents?  Volunteers?

Once you enter those three points into the calculator, it breaks down the cost into seven categories: 

Housing expenses -  The funniest part of this category was that it includes "equipment". Equipment?  What is the cost of a wet/dry vac these days?  Would that save on baby wipes?

Food expenses - This one is pretty understandable, except that it includes "specialty food stores".  I figure that won't be necessary.  Whatever I eat goes in the blender so Junior can eat it.  It's all about savings.

Sorry kid, we eat a lot of chicken and pea meatloaf around here.

Transportation expenses - Vehicle payments are included in this one.  Not sure how the child adds cost to my vehicle payments.  It's not like I'm going to run out on April 2 and buy the first fully-loaded mini-van that I can find with a rebate.  Will.Not.Happen.

Okay...maybe

Clothing expenses - This one is straight forward with the understanding that kids outgrow stuff...fast...I know.  Like "723 outfits to my 1 pair of underwear" fast.

Health care expenses - This one is obvious and also accounts for mental health needs.  The calculator people must have met me (and my wife) at some point.

I will tell my child that it could always be worse.

Child care and education expenses - "...if you do not have these expenses, expenditures on a child should be adjusted to account for this."  Done!  Never give me an out.

Miscellaneous expenses - This list consists of personal care items such as hair care (they haven't met grandpa), and entertainment such as portable media players.  I have a Discman that they can use.  Consider that money saved.

You might need to clean some of dad's arm hair off of the laser

So that's the breakdown.  We've got the estimated cost for our child-to-be down to around $1,784 per year, or whatever it costs for an Amish boarding school. 

Bottom line, kids are expensive.  We've started planning for it by converting our "Vacation Fund" into a "Baby Fund" (my wife's "fine" idea) and talking about insurance, education savings, child care, etc.  And we've already bought it a onesie, which the baby has probably outgrown already.

Did you find it daunting preparing for the birth of a child?  Is it as expensive as you feared?