This was the absolute minimum out of pocket I could envision to raise a kid. This requires that one parent take on the job of a full time caregiver. Having a stay at home parent is a HUGE cost savings, especially in the first year of the child’s life. Some of the numbers may be unrealistic, but I tried to cut everything to the bone. Expenses: Birth Medical Bills 5000 Furnishing Nursery / Baby Supplies 2000 Car Seat 250 Formula or Breast Pump + Parts + Effort (first year) 200 Diapers 1000 Furnishing Bedroom at age 4 1000 Food 150 Clothing 400 Health Insurance / Co-pays 200 Income: Child Tax Credit 2000 Standard deduction effective "bonus", depends on tax bracket 1000

Jan. 30, 2020, 8:26 p.m.

Dec. 6, 2019, 8:47 p.m.