Going off Ceejay's post yesterday...
I'm home from work and it's hotter than heck out, so I enjoyed sitting inside with the AC putting this post together. Spent some time looking thru Quicken. Pretty convenient that we are exactly halfway thru the year; it was easy to come up with some averages.
If you missed Ceejay's post here is the USDA report she cited -
I used the Western Region/middle income bracket. Page 28
USDA Figure [Our Actual Spending]
For DS (2 years old):
Housing: $4670 [$0]
Food: $1440 [$950]
Transportation: $1780 [$162]
Clothing: $800 [$300]
Health care: $800 [$250]
Childcare: $2750 [$6750]
Misc.: $1020 [$700]
For DD (10 years old)
Housing: $4670 [$0]
Food: $2460 [$1900]
Transportation: $1970 [$162]
Clothing: $750 [$300]
Health care: $940 [$250]
Childcare: $1950 [$1260]
Misc.: $1230 [$1000]
Housing:
DH and I would have bought this house or a similar three bedroom house regardless of having the kids or not.
Food:
I figured our yearly food costs. I was going to just divide it evenly between four people, but obviously DH and I eat way more than DS. So I just figured DD would eat about half of DH or I and DS would be about half of DD.
Transportation:
The USDA definition was "expenses related only to family-related activities". We do trips and such, but we would do those even without children. I just figured 5% of the annual fuel expenses per child.
Clothing:
Kids get gifts of clothes all the time. I figured an average of $20/mo/child, plus two pairs of shoes.
Health care:
"..the share of household out-of-pocket health care expenses spent on children.."
I've listed copays for annual dr. visit and bi-annual dentist visits.
Childcare:
These are crazy low averages IMO. I get that many people might have family watching the kids for free or work opposite hours so one parent is watching them. Anyhow, our total is much higher than their average.
Misc.:
"..(personal care items, such as haircuts, toothbrushes, etc.; entertainment, such as portable media players, sports equipment, computers, etc.; and reading materials, such as nonschool books, magazines, etc.).."
For DS this is where I counted his diapers, wipes, haircut every 4(ish) months, books, occasional toy and gifts.
For DD I count her gifts, twice yearly haircuts, extra activities (camp, craft classes, movies, trumpet etc..).
June 17th, 2012 at 01:58 am 1339898292
June 17th, 2012 at 02:28 pm 1339943304
I feel like I even overestimated in places in my blog post, because although I now have to pay for AA's food and plane tickets for vacations, we haven't added more into the budget, just become more frugal in the food and vacations we purchase. So is she really costing us in those areas?
June 17th, 2012 at 04:31 pm 1339950716