My wife and I are in our mid 30s and we make about $130K a year combined and we both work full time. We live in a very large 1 bedroom apartment and pay $1900 a month in rent, which is considered average for our area since we live urban with a high COL. Our lease is up for renewal in a little over 3 months and we have the opportunity to move into a smaller 2 bedroom apartment for the same price.
My wife and I are unable to have children. We are seriously considering becoming foster parents or co-parents. We don't really have any reliable friends or close family to seek financial advice from, so I come here. The monthly stipend for fostering/co-parenting is $450 for ages 0-5, $460 for ages 6-12, and $540 for ages 13-21. Medical is fully covered, but we will probably have to pay for daycare ourselves. We are not doing this for the money. We are doing this because we... just have this feeling that it's time. I can't describe it. Anyway, we are looking to bring one child of school age into our home at any given time (age 4 or 5 through 17).
We want to know your stories. What are some monthly costs of raising kids? Expected and unexpected. Please share.
Submitted January 10, 2018 at 09:14PM by throwaway-123456 http://ift.tt/2EuQvl2
