Can You Afford to Have Another Child? 8 Financial Questions to Consider

|
6 of 9
Two children playing at daycare with woman

Daycare


If you already have a child in daycare, you know the expense can be staggering. Adding another child to the roster even from the same family rarely gets you a discount. The average cost of daycare for one child in the United States is around $11,500 a year, or just under $1,000 a month. Prices can be almost double the average if you live in a city or in an area of the country with a higher cost of living.

Look for creative ways to cut down on daycare costs. Ask a relative to watch your child one day a week, look into nannysharing with a neighbor, or talk to your employer about flexible hours so you can overlap childcare with your spouse. All of these options can mean big monthly savings.

For some people, having more than one child in daycare is more expensive than a second income provides, so you may want to look into whether having one stay-at-home parent is a better financial decision. Use our calculator to see if you can afford it.

Next: College

Pregnancy Day by Day

Tell us your due date to receive our daily newsletter and find out what is happening in this day of your pregnancy!

Already a member? Log-in here

Name of the Day

highlights

Top 10 Sweet 16 Birthday Gifts
Your daughter's sweet 16 is a big milestone in her life. Celebrate this special occasion with one of these top gifts for girls turning 16.

Find Today's Newest & Best Children's Books!
Looking for newly released books for your child? Try our new Book Finder tool to search for new books by age, type, and theme, brought to you by Galactic Hot Dogs.

Printable Lists of the Top 100 Baby Names
Need help with baby name ideas? Use our printable list of the top 100 girl names and top 100 boy names of 2015 to help you brainstorm and narrow down your favorites.

Registered for Kindergarten — Now What?
Wondering what to do now that you've signed your child up for kindergarten? Try our award-winning Kindergarten Readiness app! This easy-to-use checklist comes with games and activities to help your child build essential skills for kindergarten. Download the Kindergarten Readiness app today!

stay connected

Sign up for our free email newsletters and receive the latest advice and information on all things parenting.

Enter your email address to sign up or manage your account.

Facebook icon Facebook icon Follow Us on Pinterest

© 2000-2015  Sandbox Networks, Inc. All Rights Reserved.