Do you think $1000 a month is enough to pay for a child?

Question

I have an extra $2000 going into savings every month. I was going to take half of that and put it in the bank every month, and then take the other half ($1000) and use that to pay for daycare, baby stuff, etc for a new baby.

That should be plenty of money for one child, right? Do you think its enough for two kids?

I have great medical and dental insurance. $10 copays!

Answer 1

Yes it is definitely enough for 1 and possibly 2 it will vary from month to month but the months you dont use the full thousand that money will carry over to the next month, so you start with 1000 use 800 you have 200 left next month that makes the total 1200 and so on and so forth. It may also depend on the age of the children as one may need more than the other but its a good start to see just wherein your budget lies.

Answer 2

Well, lets see... In my area daycare for a newborn (less than 12 mo) is about $150 a week so there is $600 a month right there. If you have another child in say 2 years, then you have a newborn and a toddler. You can usually get pretty good sibling discounts, but it will still cost around $200 a week, so that is $800 a month. If day care and some toys/clothes are all you are going to use it for then you should have enough, but if you want to use it to pay for everything including diapers and food, then no, it wont be enough.

Daycare, especially good care, is scary expensive. When my kids were young (1 & 3) I was seriously paying more for daycare than my mortgage.

Good luck

Answer 3

That depends on where you live. I think with daycare included into the figure you should set aside about 1200 for the baby each month- daycare can get REALLY expensive! And- I know at some daycares they change babies every hour on the hour(regardless of if they need it), so DIAPERS are going to be a big expense too, as will formula unless you're planning on pumping and storing your breastmilk exclusively- but then a good pump will cost you. As time goes by there will be additional costs of new or upgraded baby gear, more clothes as baby grows, feeding gear, etc... Set aside more than you plan to spend, you might need it!

Answer 4

Daycare alone is very expensive....but with just one child - you should be okay...I pay just about 1,000 a month in daycare expenses (full-time for the summer) and my kids are five and eight...Babies are more expensive

Answer 5

it sort of feels honest out of your end. yet, i'd have it appeared at by potential of a criminal expert and circulate interior the path of the court equipment on your state. you could finally end up no longer getting any baby help from him if there are not any criminal repercussions if he does not pay. baby help taken "on the edge" such as you're describing would be a recipe for financial catastrophe. What would you do if he makes a decision he needs to purchase a clean motor vehicle somewhat of pay the youngster help he has agreed to pay? is your record even criminal on your state? extra useful discover out beforehand you sign it and picture its criminal. In wisconsin the quantity of youngster help is basicly 17% of the version in earnings. on your case he would would desire to make $70,588.20 extra beneficial than you (according to 365 days) to owe you $a million,000 according to month in baby help. That earnings distinction would would desire to be even extra beneficial once you think approximately the fee of day care. in the adventure that your earnings or his variations in an substantial way, the case would nicely be reviewed by potential of the court equipment and the quantity would be changed.

Answer 6

Yes, that should be enough, but make sure you have health insurance. The doctor bills are what cost the most.

Answer 7

it depends on the cost of daycare and baby stuff. but it should be alrite.

Answer 8

yes, for two kids i would say 1200, 600 each is fine. they dont really eat that much.

Answer 9

sounds like enough money.

Answer 10

for shure