. "I'm in Durham, North Carolina, and that's where we had had our little girl in [daycare] for about a year. We were paying about $1,000 a month, and that was with a discount," he said. found that the cost of childcare was higher than the cost of college in more than half of US states. While the cost varies greatly across the country, it's still a large expense that could continue for many years.
Even without sports, social activities cost money. "It could be twice a month where your kids are going to birthday parties and you're shelling out $20 to $25 each time they go to a party," Bovard says. "Those expenses catch us off guard; they're hard to budget for."During the coronavirus pandemic, financial plannersays that his spending has shifted from evenings out to entertaining his kids at home.
"My older one loves books. She devours them. With public libraries closed — and after spending a small fortune in bookstores — I had to find something to help her keep engaged in her reading," he said. Luckily, he found an app that helped cut back on that expense. 7. Medical care is expensive, even for children
Kids tend to get hurt, get sick, and, in general, need to visit the doctor's office. On top of the cost of health insurance for a whole family, the extra copays, medicine, first-aid supplies, and other medical costs add up. For older children, braces, glasses, and contact lenses are also a big expense.
"Things like the dentist, even when they have baby teeth, is expensive," Bovard says. "We've got a bill right now for $1,500 for my oldest kid, that's two cavities and a crown."