Raising Kids Costs More Than Ever
Raising kids is one of life’s greatest joys and one of its biggest expenses. Today, it costs about $21,681 per year to raise a child in the U.S.
That’s over $237,000 by age 18, and that doesn’t even include college.
We’re not here to scare you — we’re here to help you feel prepared.
In many areas, childcare and housing are the two biggest expenses for families — often totaling over $1,000 each per month. These aren’t “nice-to-haves.” They’re essentials.
It’s no wonder so many parents feel stretched thin.
Your Budget Should Grow With Your Kids
As your child grows, your costs change – fast.
What starts with diapers and daycare becomes school supplies, activities, sports fees, and more. That’s why reviewing your family budget monthly isn’t just smart… it’s necessary.
Start Planning Early. It Really Pays Off.
Looking ahead can ease a lot of future stress. Consider:
- Opening a 529 College Savings Plan
- Exploring a Coverdell Education Savings Account (ESA)
- Taking advantage of new rules that let unused 529 funds roll into a Roth IRA for your child
Small steps now can make a big difference later.
Simple Choices Add Up
You don’t need the fanciest stroller. Or name-brand everything. Focusing on what your child truly needs, and not what social media says you “should” buy. Being practical isn’t just smart. It’s freeing.
Raising a child is rewarding in ways money could never measure.
But when you’re financially prepared, you gain peace of mind and that helps you be more present for all the moments that matter.
We’re Here to Support Your Family
At Southern Lakes Credit Union, we understand that every family is different and so are your financial needs. We offer personal guidance, flexible options, and a local touch that national banks can’t always match.
Let’s build a plan that grows with your family one step at a time.
