Reply to How much does it really cost to have and raise a child in this area?

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[quote=Anonymous]I'm pregnant with my first now and live in NW DC - Columbia Heights/Carodozo area. My husband and I have budgeted 3K/month for the early years. The day cares we've toured range from $2150 on the low end to $2800 on the high end. We're likely going to end up in the middle with $2350 for daycare. We've  budgeted anticipated increases in family health insurance to be an extra ~$150 a month, our new life insurance policies are paid annually but come to about another ~$150/month. We're also hoping to put another $400/month in a 529. That's about 3k all in.

We saved 25K for a baby fund to cover "start up" costs like pregnancy care, hospital stuff, baby items, etc. If we're lucky and there is any of that left it will go into the 529 as a lump sum at birth.

We plan to compromise on some of what we have bee doing re: general savings (we have been very aggressive there for years) if we have to, but we are making no compromises on retirement savings.  We are lucky in that we bought our condo in 2020 with a 2.7% interest rate. It's small and we'll have to deal with the space limitations longer than we'd like to, but the mortgage and interest rate are saving graces for us. [/quote]

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