{"id":4888,"date":"2023-05-19T10:52:02","date_gmt":"2023-05-19T16:52:02","guid":{"rendered":"https:\/\/modernfimily.com\/?p=4888"},"modified":"2023-05-19T12:37:27","modified_gmt":"2023-05-19T18:37:27","slug":"heres-how-much-our-daughters-5th-year-cost-us","status":"publish","type":"post","link":"https:\/\/modernfimily.com\/heres-how-much-our-daughters-5th-year-cost-us\/","title":{"rendered":"Here’s How Much Our Daughter’s 5th Year Cost Us"},"content":{"rendered":"
This is our fifth year outlining details of kid-related items and costs we\u2019ve encountered with our oldest kiddo.\u00a0 If you missed the earlier posts + our post on tips for new baby items, you can check them out here:<\/p>\n
Now that our family has expanded, we have started to also track our annual expenses for our son, which can be found here:<\/p>\n
Here’s How Much Our Son’s First Year Cost<\/a><\/p>\n We\u2019re now going to dig into the costs during our kiddos fifth year. My oh my, where does time go?!<\/p>\n Some caveats:<\/p>\n Drum roll pleaseeeeeee\u2026..<\/p>\n We spent a grand total of $706 during our little lady\u2019s fifth year.\u00a0 That comes out to $59 per month.<\/p>\n Wait \u2013 I swear, kids are supposed to be expensive dammit!<\/p>\n We should not gloss over that we \u201cmade\u201d money this year selling items.\u00a0 In total, we sold $506 of kid related items for the year.\u00a0 Without this included, we spent $1,212 \u2013 which still is lower than I was expecting.\u00a0 I don\u2019t see why we wouldn\u2019t include these sales though as these items were things we had picked up for kiddo and now no longer use\/need.<\/p>\n We also contributed $2,500 towards her RESP education fund to get the full 20% match ($500) from the government so a total of $3,000 was invested into her future education this year.<\/p>\n I\u2019d say her eating has plateaued the past 2 years and we have a general routine of meals\/snacks that she prefers.\u00a0 We are likely spending $75\/month on food-related costs for her.\u00a0 Here\u2019s her typical day:<\/p>\n So if we also include the $2,500 RESP contribution and ~$75\/month of food ((75*12)=$900) we\u2019re looking at a total of $4,106 out of our pockets in her fifth year.\u00a0 Of course, the RESP is elective and we recognize our privilege of being able to contribute this $2,500 towards her education each year.<\/p>\n There you have it!\u00a0 Short and sweet as we really didn\u2019t spend that much\u00a0<\/p>\n It really is shocking to me how we have yet to spend over $2,000 in any given year so far (excluding RESP and food).\u00a0 And truly we are not sitting around doing nothing!<\/p>\n Here are some of our typical low\/no cost activities that we do:<\/p>\n Stay tuned as we will provide a similar update in the near future for Parker\u2019s annual spend report for his second year. Any guesses on what we spent on his second year??<\/p>\n Those with parents, are you as crazy as us and keep track of all of your kid-related expenses?\u00a0 Would you say you spent more or less than $706 on kiddo-related expenses (not including future education and food) during their fifth year?\u00a0 What was your largest child-related purchase(s) this year?\u00a0 How have your child-related costs changed compared to their first few years?<\/p>\n Those without kids yet, if you\u2019re reading this blog you likely are not part of the herd mentality and hopefully you too can stay well under the average of $8,000-$13,000\/year. \u00a0The Wall Street Journal upped the cost to raise a child from birth \u2013 18\u2026 they are now tallying it up to $300,000<\/a>!\u00a0 That is NUTS!! There is no right or wrong way to parent.\u00a0 We are simply showing that the \u201cnorm\u201d $8,000-$13,000 (or more) annually in the first few years can be challenged. We completely recognize our privilege to not have costly childcare costs in the picture.<\/p>\n Any questions for us?\u00a0 Hope this helps!<\/p>\n And again, if you\u2019d like to check out the related posts on this topic, you can check them out here:<\/p>\n If you liked this article and want more content like this, please support this blog by sharing it.\u00a0 Not only does it help spread the FIRE, but it lets me know what content you find beneficial.\u00a0 Writing is NOT my strong suit and it honestly takes me hours to write each post so the more encouragement the better!\u00a0 Engaging in the comments below keeps me motivated.\u00a0 You can also support this blog by subscribing to receive emails anytime a new post is published.\u00a0 Thank you FImily!<\/p>\n We believe in stacking up life hacks to keep your enjoyment levels to the max without depleting your bank account.\u00a0 Here are some ways to further educate yourself and save thousands of dollars over your lifetime by making some simple adjustments:<\/p>\n This is our fifth year outlining details of kid-related items and costs we\u2019ve encountered with our oldest kiddo.\u00a0 If you missed the earlier posts + …<\/p>\n\n
The Breakdown:<\/h2>\n
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How Much Did We Spend?<\/h2>\n
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Support This Blog<\/b><\/h2>\n
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