How to Budget for a Baby

November 4, 2019

With a little bit of planning you should be able to successfully avoid having the joy of starting a family compromised by the financial burden of doing so.

 

Based on research by the National Centre for Social and Economic Modelling (NATSEM) it costs over $406,000 to raise one child from birth until they finish their education.

 

In light of these costs, here are some initial considerations that might be helpful.

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