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Comparing the Annual Spending on Children

June 16th, 2012 at 03:20 pm

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. Smile

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]

DH and I would have bought this house or a similar three bedroom house regardless of having the kids or not.

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.

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.

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.

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.

"..(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..).

3 Responses to “Comparing the Annual Spending on Children”

  1. ThriftoRama Says:

    Yeah, I always kind of laugh at those surveys. That, and the ones about how much stay at home parents are worth (always 300k a year!). They are all crap. They make too many wrong assumptions, like that just because you have a kid, you buy a house with another bedroom, and automatically buy a bigger car, etc. It's silly! The irony, I think, is that they always underestimate child care costs, which is the real killer.

  2. ceejay74 Says:

    Pretty much the same result I had in that all my averages were lower than theirs, except my childcare was higher!

    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?

  3. snafu Says:

    I noticed there was no category for entertainment like outings to the zoo, science centre, parks that require membership or tickets etc. There was no listings for piano/music lessons, tap/ballet, tennis,swim, diving, riding or any organized sport like baseball hockey, soccer etc. Maybe not necessary for 2 y/o but from 10 up it gets pricey.

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