Unit 1: The Cost Of Raising A Child

Unit 1: The cost of Raising a Child

I believe at the infant stage, the 2 expenses that can be reduced are food and clothing. This is because baby food alone can be very expensive but not if you make it yourself. You save money buying fruits and veggies and wheats in bulk because it lasts longer than one baby meal, and in the long run will be cheaper for you. Also reducing expenses for clothing can be easy if you have older children because you have the opportunity to hand down your child's old clothes to the baby. Or another way is saving money from your baby shower by getting gifts, and baby clothes is a very popular baby shower gift.
One expense that could increase drastically and without notice is clothing due to spending money on them for things like birthdays, and christmas.
Thius is because at this age kids get more needy and more reliant on friends. For an example, wanting to hangout with friends more will up your transportation, or wanting better clothing and more mature clothes. In general, your child is just at an age right now where they are becoming more independent from their parents and more social with friends which makes them want new things.
I believe there are a few things that are not on this chart. This chart was made 8 years ago so time has changed which means expenses have changed. For an example, phone bills are a big expense for parents now of days, also wifi bill because kids spend all their time on the internet. Also things like cable, and netflix would be an expense for most families now of