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

stay connected

highlights

Healthy Smile Checklist for Kids
Have better dental check-ups with this free printable checklist that helps keep your child flossing, brushing, and smiling! Brought to you by Philips Sonicare.

Kindergarten Readiness App
It's kindergarten registration time! Use this interactive kindergarten readiness checklist, complete with fun games and activities, to practice the essential skills your child needs for this next big step. Download the Kindergarten Readiness app today!

8 Easter Egg Decorating Ideas
Need some fun ideas for decorating Easter eggs with the kids? Look no further for colorful and cool designs!

7 Ways to Curb Kids' Exposure to Violence
American children are exposed to violence more often than you might think. Learn how to limit your child's exposure to violence and manage the mental health and behavioral effects it can cause.

© 2000-2014 Pearson Education, Inc. All Rights Reserved.