You have a little one on the way…Congratulations!! As soon-to-be parents, your excitement is palpable, as is your commitment. Your unbridled joy is tempered only by the planning and expenses for getting the house baby-ready: cot, pram, clothes, baby food and feeding equipment, room décor, toys, meds…the average annual cost in the first few years is estimated at $12-13,000.
However, remember you’re going to be parents for a lifetime – that means many long years of expenses: ballet or piano lessons, tuition and books, school and graduate studies, etc. Plan ahead…this financial planning infographic show how.
Financial Planning for a Baby: The Costs of Raising a Child
Infographic by – Discover Bank