Cost of raising children

So this post is not really about adoption but I was reading an article today on the cost of raising children and when I think about the cost that it will take for us to cover the adoption in the long run it doesn’t seem like such a big expense compared to what we will be paying for the rest of their childhood years. The article I was reading is here.

Although the adoption is probably going to end up costing us somewhere between $25,000 and $30,000 when you take into account that we wont have any medical expenses for an actual pregnancy and that some of it is tax deductible and we are able to get a credit back for some of it we will really not be spending all that much more on our path to parenthood.

From the article it seems like such a large figure that can be daunting for anyone trying or wanting to start a family but you also have to keep in mind that those expenses are spread out over 18 years. I know that even when you spread it out over 18 years it still averages out to about $1100 a month in extra expenses but not all of those things are set in stone prices as you can try and provide the same things for your children in a different way.

Andy and I have decided that he will become a stay at home dad after we place and then do some freelance work when he has the time to help contribute to the budget. In doing that we will be losing his salary but we are also not going to need to pay day care expenses and some of the expenses he has by having a job he drives an hour to each way.

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