How it works
The calculator adds the monthly costs, multiplies by 12 and projects them to age 18, increasing them with inflation each year.
Example
With the example values, a child costs $1,860 a month ($22,320 a year). With 3% inflation, that adds up to about $522,600 by age 18. Child care is the biggest item at 48%.
Planning tips
- Child care costs drop when school starts, but activities and food grow.
- A 529 plan started at birth helps with college costs, which are not included here.
To fit it in your budget, try the 50/30/20 budget calculator.
Frequently asked questions
Are the example values an official average?
No. They are a starting point only. Every family is different; use your own numbers.
What about costs before birth?
Prenatal care, delivery, nursery and parental leave are not included; add them separately.
See also
Results are estimates for information only and are not financial, legal or medical advice. Rates, taxes and fees vary — confirm with a professional or your lender.