If you are thinking of adding to your family it is important to factor in the costs. If you create a family budget it is the best decision you can make for your family. Not only are all more accountable for your expenses you will find that if you create a family budget and live by it that you will no longer be as stressed about about money.
It is quite shocking once you factor in all the costs for children in the course of 18 years (not that it stops then). According to the most recent report, USDA Expenditures on Children by Families in 2010, it would cost a middle-income family about $226,920 to raise a child from birth to age 17 and that doesn't include college (or private school).
I know this can be overwhelming but instead if you use the knowledge to help create your family budget and plan for your children's budget then in the end it will really help you prepare. The biggest piece of advice I can give to young people is start saving now for your future.
When you budget for your children think of expenses like increase in food, transportation, clothing, health care, child care/education, entertainment, personal care. These are some of the major expenses.