How much does raising a child cost? - KMSP-TV

How much does raising a child cost?

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NEW YORK (MYFOXNY) -

One kid, two kids, three kids or four -- no matter how many you have the costs continue to soar.

"If you look at the first year of raising a baby, you probably have to figure it's going to cost you more than $10,000," said David Sparrow, senior editor of Parents magazine. "And by the time you get through high school, you're talking probably at least a quarter of a million dollars and that of course, doesn't include college."

Add in the cost of college plus extracurricular activities along where you live and that figure could rise to as much $1 million.

Forget the European vacation, or the shopping sprees.

Leslie Venokur created a website called Big City Moms, which gives tips to expecting parents and those like her with little ones. She and her husband have a 4-year-old and a 9-month-old. She said more people are waiting longer to have kids. Of course, once you do, there are ways to save. Leslie, for instance, makes her own baby food.

She said don't be afraid to ask friends or family for advice, research things before you buy them, budget what you can afford, buy things that can grow with your family.

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