We're expecting our first child, how much is that going to cost?

We're expecting our first child, how much is that going to cost?

Jordan Goodman (Personal Finance Author) gives expert video advice on: Why is life so expensive?; Why are things so expensive?; How much is the cost of living expected to go up in the coming years? and more...

If your expecting your first child, its typically going to cost from birth to the age of 18 something like $300,000. Now, you don't have to pay that all at once. It starts off with baby food and diapers and becomes bicycles, and by the time they are 18 they have got to get their Ferrari and maserti, I guess. But it does add up over time. A lot of people do not think of the financial consequences of having a child. And this is not even counting college. At which today for private schools is well over $40,000 and some schools are over $50,000. And public schools are even $20,000 or so. So that adds to the cost of having children dramatically. And having two of them doesn't save that you that much money either. You can have a few hand me downs, but they all eat the same thing and child number one cant share food with child number two. So this is not a case where counting a scale makes much difference on saving you money.