Baby Cost Calculator
The Real Monthly Cost of a Child
Baby Costs by Age
- Newborn (0-12 months) — Highest gear costs (crib, stroller, car seat) + ongoing diapers, formula if not breastfeeding, and frequent pediatrician visits
- Toddler (1-3 years) — Childcare becomes the dominant cost. Food costs increase as they eat solid food. Clothing is outgrown rapidly.
- Preschool (3-5 years) — Preschool costs ($500-$1,500/month), activities start, clothing costs moderately less frequent
- School age (5-12) — Childcare costs drop to after-school care. Activities, sports, and school supplies increase. Food costs rise steadily.
Money-Saving Tips for New Parents
- Buy used gear — Cribs, strollers, and clothes are used briefly. Facebook Marketplace and consignment shops save 50-80%. Only buy car seats new (for safety certification).
- Use cloth diapers — Initial investment of $300-$500 saves $1,500-$2,000 over disposables through potty training
- Maximize your FSA/HSA — Use pre-tax dollars for medical expenses. Dependent Care FSA allows up to $5,000/year pre-tax for childcare.
- Claim the Child Tax Credit — Up to $2,000 per child under 17 (2024), plus potential Earned Income Tax Credit for qualifying families
Frequently Asked Questions
How much does it cost to raise a child in the US?
The USDA estimates the total cost of raising a child from birth to age 18 at $233,610 (2015 dollars), or approximately $310,000+ adjusted for current inflation. This averages $17,000-$18,000 per year or about $1,400/month. Costs are highest in the Northeast and for higher-income families.
What is the biggest expense with a baby?
Childcare is consistently the largest expense for families with young children. Full-time daycare costs $800-$2,500/month depending on location. In many cities, childcare costs more than rent. After childcare, housing (needing more space) and healthcare are the next largest expenses.
How should I financially prepare for a baby?
Start 6-12 months before: build a 6-month emergency fund, pay off high-interest debt, research health insurance options (add baby to plan), create a baby budget, start a 529 education savings plan, update life insurance and will, and review parental leave benefits.