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  • On August 6, 2016

    Ethan Turned 20 Months!
  • Ethan's Next Trip

    Is to a Jamaican beach!
  • Ethan's Latest Milestone

    He is now feeding himself!
  • Ethan Loves Us!

    and we love him so much more!

The Cost of Raising a Child (Year One)

Day 391

Finally posting that long awaited follow up to True Life: I Killed My Budget!

When we last left our aching checkbook on November 25, 2014, we were two weeks away from birth and we had already spent over $5,000 on our dear, sweet, and unborn child Ethan.  Today I will be following up with reports on what Year One cost (12.06.14 to 12.06.15), as well as the total cost so far of raising a baby from conception to today (January 1, 2016).

Mandatory Recap of What Counts

You can find a more thorough explanation in my True Life post above, but here’s an excerpt:

I have one simple rule I follow when assigning expenses to categories.  Would I have spent this dollar if my wife wasn’t pregnant and we didn’t have a kid on the way we weren’t parents?  If the answer is no, it goes in Ethan’s category; otherwise it gets assigned to something else.

Year One (Birth to 1st Birthday)

Ethan Costs 2015

I ran this report on December 6, 2015.  So even though it says December to December, it is only good through the 6th.  We spent a total of $8,953.17 on Ethan to raise him to a happy, bouncing 1 year old.  This represents a 77% increase over last year’s total of $5,032.10.  I sure hope that trend doesn’t continue or we’d be spending $1 million per year by the time he’s 10.  This is not a true YOY comparison, however, since we are counting 12 months instead of 9 from 2014.  Although I do consider 2015 to be a truer picture of the cost of child rearing, since 2014 was mostly comprised of Mommy’s medical expenses and preparatory spending.  Let’s dig in, shall we?

Child Care dethroned medical to become our single biggest expense of 2015.  Even though we only utilized child care for six months, we shelled out a grand total of $5,840.00, or $230 per week.  Although very difficult to afford, we had no choice, and it only ended when our job situation changed.  Child care was a constant pain point in our house as we engage in the “why are strangers taking care of our baby” debate, especially for that large sum of money.  It still was a whole lot cheaper then sacrificing Mommy’s very healthy salary, but that choice was taken away from us by the wicked witch of Jackson Ave.

Next up we had Medical Expenses, which includes all of the costs of labor and delivery, plus a few doctors visits and drug store purchases.  This year we spent $1,442.87, which was a steep drop from last year.  I expect this number to hover around $100 per year from now on, so expect a plummet next year.

Diapers/Wipes will always be a regular expense until such time when Ethan learns to potty.  Hopefully that happens during age 3, but until then we spend about $60 per month through Amazon Mom.  It sure is great to have a giant box of diapers and wipes come to your door without having to order them.  Diaper cost increases with size, so I expect it to rise each year.  This year we kicked things off with $751.43

I can’t really go into detail about the rest of the categories, since I pretty much randomly assign a purchase if it doesn’t fit the previous 3 categories.  They are mainly things such as sippy cups, snacks, toys, party supplies, child safety locks, etc… and clothing is self explanatory.

2015:                                                                                       2014:

  • Child Care…………………….$4,044.47 (65%)                   $0.00
  • Medical Expenses……………..$894.31 (16%)                   $4,044.47
  • Diapers/Wipes……………….….$48.05 (8%)                     $48.05
  • Supplies…….………………………$45.27 (7%)                      $0.00
  • Misc…………………………………$137.56 (2%)                     $0.00
  • His Room…………………………$137.03 (2%)                     $894.31
  • Clothing…………………………….$61.84 (0%)                     $45.27
  • Grand Total……………$8,953.17 (100%)              $5,032.10

Conception to Today (21 Months): $14,085.27

Note: The following chart was reported a day earlier so numbers are off.

Ethan James All Time