A baby needs a mother's breast, some clothes and diapers.
Going to Landsbergienė's private schools, trying to get into the supposed
Lithuanian "elite", is not worth it, because the entire Lithuanian
"elite" are foolish thieves. You will only spoil the children.
The reasonable cost of raising a child includes various
expenses, such as housing, food, health care, clothing, childcare and
education, and the total estimated cost varies greatly depending on income,
location and age of the child, reaching between $ 300,000 and $ 390,000 in the
United States from birth to 18 years in recent years. Families can prepare by
monitoring their expenses, taking advantage of workplace benefits such as FSAs,
and consciously choosing baby supplies to keep costs manageable.
Major Expense Categories
Housing:
This is often the largest expense that covers the need for a
larger house or apartment. (Most of us in Lithuania own our own homes.)
Food:
Growing children need more food, and these expenses make up
a large portion of the budget. (A garden or orchard helps here, and we also
learn how to grow our own food.)
Childcare:
The costs of daycare, preschool, or other childcare services
are high, especially for working parents.
Healthcare:
Expenses for doctor visits, prescriptions, and unexpected
medical needs can add up quickly, even with insurance.
Clothing:
Clothes needed for growing children are ongoing expenses
(secondhand clothes are now available, cheap, and not bad at all).
Transportation:
This may include increased family expenses for a larger
vehicle or public transportation (we don’t have to drive around with a tank on
wheels like Westerners do).
Education:
In addition to schooling, this may include expenses for
supplies, tutors, and other educational activities.
Personal Care:
Diapers, baby wipes, and other personal hygiene items are
essential, especially for newborns.
Miscellaneous Expenses:
These may include activities such as sports, hobbies, summer
camps, and funds for personal expenses.
Factors Affecting Expenses
Income:
Expenses vary by income group, with higher-income families
spending more on average.
Location:
Expenses vary greatly by state and region, with places like
Hawaii and Massachusetts having higher expenses.
Child Age:
Expenses change over time, with a larger portion of spending
going to care for younger children, followed by education and other activities
later in life.
Tips for Managing Expenses
Track Your Spending:
Understand your current spending habits to identify areas
where you can save.
Take advantage of workplace benefits:
Take advantage of pre-tax benefits like the Dependent Care
FSA to help cover expenses like daycare and medical care.
Be smart about your baby supplies:
Buy only what you need, consider used options, and avoid
unnecessary gadgets like tissue warmers to save money. Don’t stick your nose in
a tissue warmer out of curiosity, as you’ll burn your nose.
Plan for future expenses:
Anticipate potential expenses such as extracurricular
activities, sports teams, and tutoring as your child gets older.
“The decision to have children is not only one of the most
important in life, but also one of the biggest financial commitments. According
to experts, only a few parents try to calculate how much it will cost to raise
a son or daughter until adulthood, and how much more money they will need
later. However, financial experts name a preliminary amount, and it often
exceeds the six-figure mark.
What costs the most, and where can you save money, said
Sigita Strockytė-Varnė, personal finance expert at SEB bankas.
– Is it possible to calculate how much parents spend on one
child over 18 years from birth to adulthood?
– It is not very simple, but if we really want to,
everything is possible. Only the parents themselves are usually not inclined to
do this. Studies have shown that only one in ten has tried to calculate how
much the total amount could cost until adulthood.
– How do expenses change during different stages of life?
How much is spent per year on a baby and when it grows up, for example, to
seven years old?
– Expenses vary greatly at different stages of life. One of
the biggest expenses is for a baby, especially when he is the first in the
family. Simply because you have to buy the necessary furniture and strollers
for the baby. Part of the expenses for entertainment is small - entrance fees
are usually free for small children, so parents spend almost nothing. However,
these expenses increase slightly when the child reaches school age. Then there
are additional costs for school and education, and entertainment often has to
be paid for. You also have to pay for clubs and classes. The expenses may be
different at each age, but they are gradually increasing.
- Can you name the amount spent when the child does not yet
go to school, from school to adolescence and from adolescence to adulthood?
- We do not have an exact figure by age group. However, when
interviewing parents who have children of this age, the average amount per year
ranges from 3 to 5 thousand euros. 13 percent of the population said that the
expenses exceed 5 thousand euros. These are probably those who do not attend
private schools, because those who who attend private school, additionally
spend the same amount on private education.
– Can we say that raising a child to adulthood costs parents
almost 100 thousand euros?
– Yes. If parents spend about 500 euros per month,
multiplying this amount by 18 years, the average comes to about 100 thousand
euros. This is a very significant amount. Why don't parents like to count?
Because when a child is born, it seems like the most beautiful event in life
and you don't want to put a price on it in money. Everyone agrees that every
euro spent on a child's health, well-being, education and growth is worth it.
However, knowing how much the costs really are helps you plan and monitor the
expenses more responsibly. The money you save can be invested or used to
prepare your child for an independent life. Even after reaching the age of
eighteen, parents' expenses do not end - you need to help your children during
their studies. Early planning can be a very big help.
– Who has to most expenses? For education, entertainment,
clothing or food?
– The main expenses are for education, especially for
additional activities – clubs. Studies show that 20 percent of parents cannot
afford even one club, and the vast majority choose only one paid club. The
trend shows that the prices of clubs are increasing every year. If a child is
engaged in exclusive sports or participates in competitions, additional
expenses arise: clothing, participation fee.
Another large part of the expenses is food at school. The
average price of a school lunch today is about 3-4 euros. If a child eats only
at school, it can amount to about 80 euros per month. The third large part of
the expenses is clothes and footwear. Parents admit that they make major
purchases at least 3-4 times a year. It is important to understand that brands
are not significant for young children – they do not care whether they wear new
or used clothes. This is an area where parents can save money. It is more
difficult for teenagers, because the effect of social pressure makes them want
to have friends available brands. However, you can make efforts to consume
responsibly and protect the purchased items.
– Do the costs depend on where you live – Vilnius, Kaunas,
Klaipėda or smaller cities?
– It is difficult to say exactly, because an exact
calculation has not been made. In smaller cities, the costs may be slightly
lower, because the choice is smaller than in large cities. For example, the
choice of clubs is limited, school food may be cheaper. However, in Vilnius or
Kaunas, the choice is greater, food is more expensive. Overall, the costs may
be slightly lower, but not necessarily – you can buy clothes both expensive and
cheaper, and then the situation may be similar.”
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