Financial Literacy - Family Budget

Step 8: Children: Precious, But Pricey

Being a parent is going to cost you! A lot! There are many costs associated with having a child. Thankfully for you, for this project you only have to worry about determining the cost of day care, which is expensive enough as it is.

--As a parent who has been there, I have never regretted having children. There is a richness to my live I never would have experienced without Kalysta, Therese and Madison in my world. :)

Add to your Family Budget Presentation AND Google Budget Sheets

  1. For each child aged four and under

    Day Care Costs: (Based on 5 days per week, 8 hours per day). 
    Cost = $800/month ---for each child

  2. For each child aged five and older

    Babysitter (Based on 20 days/month) 
    Cost = $5/hour for 3 hours a day – for each child 
    = $300/month – for each child

  3. Please add information to your Family Budge Presentation.
  4. Use the Cost of Raising a Child Calculator to determine how much your youngin(s') will cost you this year. Get a screenshot of the information and add it to your report. You will not have to add this information to your spreadsheet.

    9-1

  • Note: You could have your partner stay home and thereby avoid having to pay for child care. However, you forgo any salary from your partner.
 Learning Targets

Review this Rubric
Step 1 Choose a Career
Step 2 Children
Step 3 Getting Hired
Step 4 Taxes and Net Pay
Step 5 Dream House
Step 6 The Family Chariot: New or Used?
Step 7 Paying for Your New Wheels
Step 8 Children: Precious but Pricey!
Step 9 Getting a Pet
Step 10 Tracking Expenses
Step 11 Getting a Grip on Your Spending - Report