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Financial firsts: 6 ways to prepare for the added expense and joys of parenting

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Financial firsts: 6 ways to prepare for the added expense and joys of parenting

By Matthew Jelalian, Deseret News National | Posted - Jan. 6, 2016 at 11:22 a.m.



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David and Lauren Bonney had been married four years, when they had their first child, a boy named Max. They are now expecting a girl and better prepared this time around for the expenses children bring.

According to an annual study performed by the United States Department of Agriculture, the average cost of a child is between $10,000 and $25,000 a year, depending on the age of the child and income level of the parents.

Parents who make less than $61,530 generally will not end up spending more than $10,000 a year on a child, whereas those who make over $106,540 will end up spending more than $25,000 on a child by the time he or she enters high school.

[To read the full story go to DeseretNews.com](<http://www.ksl.com/ad_logger/ad_logger.php?location=http://national.deseretnews.com/article/16236/financial-firsts-6-ways-to-prepare-for-the-added-expense-and-joys-of-parenting.html&sponsor=Financial firsts: 6 ways to prepare for the added expense and joys of parenting>).

Matthew Jelalian National

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