Budgeting for a Child
(Thank you to Lisa Belkin, author of “The Motherlode” blog in the NY Times, for permission to use this post. Although the question posed is about raising a child in NYC, its wisdom is useful for people living anywhere.)
After the government last month released its annual tally of what it costs to raise a child to age 18 ($222,360), I received an e-mail message from a reader, A., who is looking for advice on how to find a more practical number. That lump sum is interesting as a conversation starter, she says, but it isn’t much help in trying to budget for an actual child.
She writes:
I’m a single woman trying to figure out what it will cost for me to bring up a child living in New York City (hopefully in 2011).
Many of the Web sites I’ve looked at seem conservative for Manhattan or just unrealistically … Continue reading