The True Cost of Raising a Child - Part 2

By Nat Berman

Part 1 covered the cost of Prenatal Care, Delivery, and Medical Visits.

Today we move on to:

Dental

Unfortunately for parents, dental insurance does not cover children, as well as medical insurance, does. Although some dentists offer free yearly exams, very few children walk out the door with no follow up needed, and the basic cleaning that the Dentist In North Hollywood recommends twice a year adds up to $50 and $150 for a routine exam and cleaning. Filling cavities costs a lot extra so it’s an extra incentive to keep your kids away from sugar and encourage good oral hygiene. Despite preventative measures, many children need items like orthodontist care (braces) which can cost up to $6,000, as cited by 1Dental. As 45% of children need braces, it’s not unreasonable to add this to the cost of average child-rearing expense, bringing a total average for dental care until age 18 to approximately $10,000 in dental co-pays. Many dentists are now offering dental credit cards, to help parents pay off these costs, with interest.

Education

It’s obvious that parents who send their child to public school incur less expense than those who pay private school tuition. Even so, public school is not totally free. The cost of school supplies, school clothing and extra expense for team sports activities. A US News Education article, 5 Hidden Costs of Public High School, estimates that everything from computer costs to taking the SAT can cause many parents to spend the child’s college fund before high school graduation. With the cost of a four-year degree at a public institution being around $17,474 in 2013, according to the National Center for Education Statistics, and as college prices are only going up, rounding up 20,000 for 2016 is not unreasonable for both public school education and the cheapest 4-year college degree, adding up to a whopping $40,000 for 16 years of education at a public or state institution.

Clothing

Clothing is a wild card expense, as parents can shop at the local Walmart, or dress their children in designer fashion, according to their budget and priorities. Many families save money on the second child, as they can wear hand-me-downs from older siblings. An average of 5 back to school outfit including two pairs of shoes at Walmart can cost around $300-$500, but the same shopping for popular brand name items can cost $300 for one pair of shoes alone. Taking into account $100 per month as a clothing allowance for dress wear and sportswear, a child will cost a parent about $22,000 in clothing, if they shop for bargains.

Part 3 will cover Entertainment, Food, and will reveal the Total True Cost of Raising a Child.