How Much More Per Month Do You Spend When You Have Kids?

It's not cheap having little ones!

October 18, 2018

© Tatiana Chekryzhova | Dreamstime.com

I have so many fears about becoming a first-time parent next Spring. There are so many things I know absolutely nothing about when it comes to dealing with babies like changing diapers. Besides caring for the child, money is also something that I am a bit freaked out over because I worry that my significant other and I are not financially ready. 

I have heard a million times from other people, "are we every 100% ready or prepared" and I think that's true. We over think a lot of the small details of becoming a parent and almost psyche ourselves out before the journey even begins. 

If you've had children already you probably know there was life before kids and life after kids. Things change drastically once you become a parent. One of the big changes comes deals with how much money you spend per month to live. Kids are not cheap. They have needs and wants. 

According to a new study, couples spend $525 more a month when they have a child. They break down the figure even more and found that the average couple with one child spends $1,844 a month on basic necessities like utilities, food, and rent. 

The most money is spent on housing followed by clothes and food. 

I know before March arrives and even before year's end, my fiance and I need to really crack down on the money we spend going out to eat. I can cook really well so there's no reason why we go out all the time. I think we've just become lazy. In the morning I could totally prep a meal and throw it in the crock pot while I am at work. I need to put this plan in action ASAP because diapers, wipes, and all the things the baby girl needs add up fast.