CLARIFICATIONS AND CORRECTIONS: - We only ended up spending a little less than $100 on a car-seat. The line a 3:06 is a bit confusing, and sounds like we planned on $800 for a car seat. The animation makes it look like $800 for a car-seat but, Philip actually read "$800 for a car seat, room decor, and anything else we don't get from our registry. - In hindsight we now know we were naive to assume breastmilk is "essentially free". Between pumps, consultants, increased appetite, etc., it most certainly is NOT free. Our apologies to the mamas out there that know better! -- TC Team
Still, breastfeeding might not be free, but its a LOT cheaper than formula, especially if you go for the top brand (Nestley, etc) which are ridiculously priced. Also, in my country lactation consultant is free. We had babies in 2 different provinces and in each one, we had nurses visiting at home just to check that everything was going well at the beginning and give us free stuff (mostly samples, but still) to help. I really find that US is behind most other developed countries when it comes to raising children.
I am not 100% sure if you already did made a video about avoiding Impuls buying. Maybe an interesting topic with some othe themes in one episode of money saving. Me for example: I keep a list of things I would like to have and one month later I look if I still need/want them. It saving me a lot of cash and living space :D btw I am from Germany and a huge fan of your show and I wish all the best for the upcoming challenges but on the financial side there is everything in good hands I guess ;]
@@TwoCentsPBS You're welcome and congratulations on the baby. Everything you talk about applies to everyone, everyday. There is no politics or sugar coating just plan facts. If more kids where educated in this everyday finance, the world would be a better place for everyone.
3 important things that are not being taught in school: 1. How to be financially literate 2. How to prepare and become a responsibe parents 3. How to be respectful of one another/ values
Well remember that the cost that you don’t pay in direct heathcare costs you pay it anyway in general with an higher taxation, which is great in my opinion as a European but it could be something not everyone likes(especially entrepreneurs and self employed people)
Congratulations Julia and Philip! It was nice that you could actually apply yourselves and your experience into this video! Congrats again and another great video from Two Cents!
Thanks Ruby! Always so great to have your positive energy early on in the YT comments 😂! I love the work you're doing with you channel BTW (I'm a big MTB rider and love national/state parks)! - Philip
Great video! I just wanted to chime in that cloth diapers do not cost anywhere near what disposables do. I did a diaper laundry load every 4 days or so and it was so convenient as a stay at home mom. We used disposables when we traveled and at night as they do stay dry longer and with cloth they need to be changed right after the go but it wasn't a hassle at all and in no way did it cost $80 a month for laundry even with twins. After the kids were potty trained the diapers made great cleaning rags too! I just want to encourage others that want to use cloth diapers to go for it!
I covered this for a school project! Based on the data I found it's actually more likely children who use cloth diapers become potty trained faster since it irritates their skin more and they dont like the feeling. I'm not saying let them sit in it for a while or anything, but since it's so uncomfortable, theyll learn quicker using the toilet doesnt have any pain lol
I am 28 and childless (hopefully a mom someday). But at least once a year, my mom calls me to let me know she just washed my diapers and hung them out to dry. She’s saving them for my own future kid and is very quick to remind me, “They last forever! I ordered them from Japan. Those were expensive back in the day, you know.” I love my mom! Hehe
Saaaaame dont want kids.... no matter how much my relatives and parents insist that I should get married and have kids nope this makes me definetly not want to have kids.... or get married.
One of the 1st things my wife and I did was buy a tax free mutual fund for our son. The year before he was born we set aside $5K to buy it when he was born. After that every year we use our child tax benefit to buy addition tax free mutual funds. By the time he's 18 he should have about $140K adjusted for inflation to be used for things like education or a house or starting a business or investing etc. Our only out of pocket cost for that $140K is $5K. The rest came from the tax credit that all parents get. Our total costs over the last 2.5 years has not actually been all that high. We avoided a lot of stuff. Like all the cute clothing which is pretty expensive. As for the birth I live in Canada so there wasn't a bill at all. There was no C section either. Didn't even pay for parking because that weekend was a long weekend and the parking was free. If the parking wasn't free I think the was would have been $20 for the 2 nights we were there.
@@nabeel9187 exactly so might as well have one that will actually be yours... im pretty sure having a kid is work and money but not as bad as people make it seem because I have seen in life that most people always over exaggerate everything
@@tech-hilfeportal6611 Really? How come Canada has a higher life expectancy that the USA then? To be fair healthcare in Canada is frustrating due to long wait times, but the quality of care is outstanding in general.
@@channell11 yes but you can pay 10000$ in 10 years in taxes and cover 1000000$ of expenses that you would have paid in the USA. One way or another everyone will need medical care, it's better to pay a small amount every month to cover for any expense, than to pay nothing at all and realize in your darkest days that to be able to stay alive you need to pay an amount that will bankrupt you.
Wait, Julia is actually pregnant? That's incredible!! Congratulations and what an awesome way to start 2019! Can't wait to become a father myself so I can imagine how excited you guys are. Thank you for another great video. EDIT: "That's our Three Cents" Yeah that was just too adorable.
As a new father, you will never be the same. You sleep with your ears open, always making sure you have baby necessities stocked up, better to buy in bulk. When they start walking, you make sure there is nothing that can harm themselves with. Eyes always on them. Make sure utems within their reach are not choking hazards. They will get sick easily, so stock up on remedies and be careful with medicines. Always seek doctors advice on dosages. And of course, patience.
Let’s assume that it would cost $288,000 to raise a child from age 0-18. That would work out to $16,000/yr, or $1,333 per month over 18 years. Now let’s assume that instead of spending $1,333 every month on your child, you chose to invest that money at the start of every month in the stock market using a total market index fund that returns 10% annually. At the end of the 18 year period, you would have over $810,000 in your account, of which $523,313 is investment gains. The real cost of raising a child is roughly $810,000 and NOT just $288,000 when you factor in the opportunity cost of spending that money instead of having it invested in the stock market with compound interest at work.
and if you spend time you would spend and health you would lose from sleep deprivation working for money instead, you will make even more. but it's preferrable to spend that money on yourself to also compensate for hapiness
DriedMangoPie That was what I thought!!! Terrible idea thinking plastic diapers can be better for the environment in the long run. I love the channel, but this part kind of put me off
They were quoting a study. Washing detergent and use of electricity in cloth nappies is not as green as you think. Still greener and power to you if you can do it. My friend uses a bamboo insert in there cloth nappies which makes more manageable and puts the inserts into compost. I would like too for my 7 month old but find it difficult on top of the other washing
As far as I can ascertain the study quoted only looked at the environmental impact of disposing of the nappies at the end of their life compared to washing cloth. I haven't seen anyone factor in the environmental cost of manufacturing a few hundred disposable nappies versus a few dozen cloth nappies.
It depends on what you consider bad for the environment. If climate change is the concern, which I think most people mean, then whether or not a piece of plastic continues to exist has no negative impact. Trash looks bad, certainly, but in the end it's really a question of the manufacture and transport of the materials involved in making the diaper versus the farming of cotton, manufacturing the cloth and diaper, and the additional electricity used at home for laundry and at the water treatment facility. Plus, you'll still need plastic on the outside of the cloth diaper anyway, since cloth alone won't hold in fluids. I don't think anyone is so committed to not using plastic that they'd want poop and pee leaking all over their house.
My mother washed the cloth diapers she used for my siblings and I (there were no such thing as disposable diapers back then). After we grew out of them, the diapers were handy cloths to clean the house with.
Half of this episode made me glad I live in Canada, I can't afford a kid, but those extra medical cost nearly made me faint. That's insane! Congratulations on the new kid, hopefully its favourite hobby is sleeping through the night like my sister, and not mine which was crying.
Yap, it seems to be extra hard to have a child in the US. Luckily there is child money, free kindergarden, free health care and 42 weeks of payed maternity leave in my home country. But that are according to American conservatives just the symptoms of the European nightmare we live in ;)
Yea I have 4 kids. One was a C-section. No out of pocket cost for the midwife, childbirth, hospital stay or any after care the babies needed. Every child we had we left the hospital the same day. Only with our second, which was delivered via C section, did we stay overnight. It's so sad to see the struggles in the US. If you have twins, which are almost all born via C section and premature, which required extra care and more expense. Plus usually a solid year to stay home and get them off to a good start, most middle class famlies are going to go broke.
I'm gonna guess the reason for this is because overpopulation? I mean we have over 300 million, heck even in the state of California there's slightly more people than Canada. Another reason why I want to move to British Columbia.
@@WAncouvOR But imagine 300+million paying into a single payer system. Plus the ability of that huge system to negotiate drug prices. Its like Walmart buying from a potato farmer. They get the best price.
No doubt about it... My total income tax bill in Canada is less than the cost of most medical procedures in the US, which includes my health care costs. Why would anyone want to pay a few hundred less in taxes only to pay thousands more in insurance costs and medical bills?
Be fruitful and multiply and have at least two more kids.... Someone has to pay into the social security system for the next generation. So it never runs out of funds
I'm due next week and have probably spent a total of $400 on anything related to pregnancy/getting ready for baby, including all of my prenatal care, maternity items, and a fully stocked/furnished nursery. Kids are as expensive as you decide to make them. Just need to get smart/creative.
Some of these prices are even insane! My son is 2 and we’ve been $300 ish on car seats. Infant and convertible. His crib was $120, and he’s still in it and will be until 3!
Another issue no one talks about is overpopulation... Well...we already hv 7.5 billion ppl on the planet! most scientists agree ~2 billion is the carrying cap of humans... with respect to all other sentient beings. We are way over carrying capacity.... besides latest ipcc report says we only hv 10 yrs to stop runaway climate chaos! Meaning if we all dont change our lifestyles everyones kids are fkd! You know I already decided Not to hv kids! Having one kid is a lifetime of carbon emissions! And if your kids have kids that multiple generations... So 2 billion is a cap considering all earths species, with regard to habitat and space needed for survival. For example wolves need about 100acres of land each, for hunting/survival. On avg they generally run 20-35miles per day!! And thats just one animal... with habitat destruction, human sprawl and hunting/trapping, animals have less and less areas to survive. Thats why most are going extinct today. Very last white male rhino died last yr! Many shark species are considered extinct today cuz of shark fin soup fishing. N America used to hv about 60million buffalo... now we have like 31,000. We shot them all to destroy native americans' main food source! There are pics of stacked piles of buffalo bones 2 stories high... humans destroy everything!!! Everything! Not even exaggerating! N america used to look like yellowstone nat park.... all of it!! Moose, big horn sheep, elk, deer, wolves, buffalo, bald eagles, all kinds of hawks, bears everywhere, mtn lions, honey badgers, river otters, wolverines, etc etc. Why do u think thousands of ppl travel to yellowstone every yr. Cuz thats one of the last few places u can see animals living in the wild and not in a fuking tiny cage at the zoo!!! 7.5 billion humans on the planet! 7.5billion... estimated less than 10k chimpanzees!! Seriously we dont need any more human babies... Watch "Sir David Attenborough on Overpopulation" on UA-cam ua-cam.com/video/JRPmLWYbUqA/v-deo.html
@@lolouro2266 fam then do something about the places where the birth rates are massive in Africa, India and China's birth rates are actually pretty low now
@@mashedtomato2079 actually its more effective to reduce population in 1sr world cuz we waste or use much more energy per day than 3rd world. India, africa, and most of china live of 5$ per day equivalent.
I know, crazy right! We're incredibly blessed to have amazing support from PBSDS getting the word out early on and from awesome viewers like you. Thanks for the kind words, Juan. -- Philip 👨🏻
I was berated by my supervisor 20 years ago when he found out my wife was pregnant. He criticized me for not making enough money to bring another child into the world. I replied "if we had to wait until I could afford kids, we'd never have them." I left this job. He got fired a couple of months later.
@@fixafix69 if only... Is like this throughout the whole Earth I believe money matters but expensive doesn't mean better. I'm sad when I see today's kids having almost all the knowledge of the past and close future in the palm of their hand but they choose to spend time on useless things
Adjustments are a little easier to make... if you don't have to make them. We were a single income household prior to having children, so we already knew how to live on one. the stay-at-home mom adjustment wasn't necessary, we didn't have to worry about maternity leave, and we didn't need babysitters. Prenatal and birth: $0 - insurance covered all 40k+ Car seat: $100 Crib and bassinet: free from family Baby clothes: free from family and friends. What we did buy came from credit on returns Childcare: Not needed aside from the occasional grandparent visit Feeding: Skipped formula so free since no issues with breastfeeding Birth certificate, etc.: Probably $50 or so for various ID things Diapers: Used cloth. I don't remember initial cost offhand, but it was significant to get started. Didn't notice any large increase in water or electricity bills from the washing In the first year of our first child, I'd say our total costs didn't exceed $1000 (probably much lower than that). Some of that was luck (good health, people giving us things) but a lot of it was being prepared, knowing our options, being willing to do a little extra work (cloth diapers) and living in a low cost-of-living area.
Wish this comment had more up votes. A lot of the things they spent money on were not actually necessary, like the yoga classes. A lit of things can be bought used instead of new without sacrifice of quality, or are given to you.
To my eyes and I have good investors eyes baby is a bad investment to make. A lot of cost you have to pay upfront and your return is minimal or it could be nothing as far as I can see
Cesarian births are free in Spain. All tests are covered. All healthcare is free. No deductibles. Ultrasounds are free too. All baby medical costs are free.
@ no one gets stuck with anything. We all pay taxes to have free healthcare. No one ever protests about it by the way, everyone wants to keep that system because everyone has used it! Every doctor visit we do is for free. Every necessary treatment is for free. Every medicine we need is for free. With the exception of opticians and dental treatment, everything else is covered. We have one of the most advanced healthcare systems in the world by the way, funded to the max and a reference for other countries, as well as highly well received by the population/satisfaction. No one is hurting because they pay more taxes. Getting a baby costs 0€,with cesarian and epidural. Your child's treatments until he is 18 are covered, whether he need spine surgery, gets a cold, gets a herpes, gets whatever! You don't worry about that, you go to the doctor (it's for free) and you get a receipt for a treatment, a reference for a specialist (also doesn't charge-they're for free) or a medicine (for free). When physicians get payed a public salary and thus have a stable job for life, there's more chance they work for the people, not for their pockets.
@@dodid0 exactly! I live in the US, we pay some of the highest taxes towards medical expenses but get nearly nothing in return. If we actually used the taxes that are already supposed to go to medical care, it wouldnt raise taxes. Not only that, it benefits everyone. Why wouldnt you want your medical bills covered!? I'd much rather pay higher taxes and know I'd have proper care following a deadly disaster, than having fewer taxes and have to decide between bankruptcy or my health.
Spain is one of the most highly taxed countries in Europe. It's public pension program and public spending trends are unsustainable. There's definitely a cost.
Washing cloth isn't that gross and it only adds 2 loads so the price for electricity and water isn't skyrocketing. You can use them for a second child or sell them when you're done as well.
Step 6: be proud that you didn't contribute 58.6 tons of carbon to the planet. www.theguardian.com/environment/2017/jul/12/want-to-fight-climate-change-have-fewer-children
Congrats on the new addition (I assume by now he or she has made her debut)! We have just gone through the first year with our baby! I just ran the numbers for the first year, and it was less than $1700 total (the majority is health insurance on the new baby at $100/month)! Being pregnant cost more because we bought health insurance for me (at less than $200/month) and then cancelled it after he was born. So that was about $2000 total. Basically, babies are CHEAP as long as you share with other parents and then do your part and pass it down too once the babe outgrows it. I breastfed exclusively for 6 months and diapers are only about $15/month (50 cents a day).
Cheap Filmmaker My Dad was a resident when my brother was born and didn’t get to spend much time with him. He took a month off when I was born three years later (Mom and I almost died, he almost had to deliver me, so she needed some help and we all needed time to get past the trauma, lol!) and he still swears that it helped him bond with me faster and easier. He was able to get into the groove of understanding what I wanted or needed and was able to help more because of it. I think me being the second baby also helped, but he still thinks it was pivotal.
@@SunflowerSpotlight Glad it all turned out ok for you and your family. My parents had to live separately for more than 7 years (they didn't have a choice). One was in Germany the other one in France. I was in Vietnam for some time. I wish no kid has to endure parent separation like that.
Cheap Filmmaker My goodness! I’m so sorry! That must have left a big imprint on you. But I think for most people, it’s in the stuff we wish we could erase that make or break us, help define us and make us stronger if we make it through it. I hope things are happier for your family now. I’m actually in the car waiting for my mother. My parents and I are driving three hours to a good hospital. She’s having surgery. An eight inch (large grapefruit) sized mass in her abdomen. They can’t tell if it’s cancer or not and is having surgery in... four hours. So wish us luck! I’m staying nights. We’ll play cards.
Not that I ever plan on having kids, but I've heard that you shouldn't every buy baby furniture used because they're prone to recalls and could have safety defects.
Big congrats to Julia and Philip, and what a way to announce it :D It would be amazing to hear what you learn from the experience from a financial point of view, but also as parents!
To deliver my child, (which was a c-section) only cost me $300. Thank God for health insurance. Crib- $100 which turns into a toddler bed. Stroller with car seat $150 All of this BRAND NEW and I live in NYC. I refused to spend unnecessary dollars on things that I knew wouldn't be used long.
On your second child, you'll realize that half the items you bought last time, you just didnt need. When I see parents with the Cadillac of strollers with the bag hook, baby bag basket, 4 cup holders, detachable mobile and side airbags, I can always tell it's their first child.
Excelente canal de youtube, ustedes son grandiosos yo soy de Perú y esto nos dara una mejor idea de lo que debamos hacer cuando llegue el momento. Keep it up guys!
Your graph at 3:21 is not accurate, there is no mandate of paid maternity leave in the US, this is entirely up to the employer and is more often than not 0. The US is the only country in the OECD that doesn't provide paid maternity leave by law.
As someone starting to budget for a future kid, y'all should do a follow up video to this one after the first year to see how the expectations compared to reality :) P.S. Guten tag, Julia!
I'm so glad I had my kid in Britain. I paid literally nothing either for my antenatal care or the birth. If I didn't, there's absolutely no way I would have been able to afford a house, especially when you consider my daughter's medical bills. My mum had my little sister a couple of years before I had my daughter, so I got a lot of stuff second hand from her. I come from a large family, so I was able to get most stuff for free. Which helped enormously. And I got an ex display pram for very little. I think there was a scuff mark or two, but nothing beyond that. All in all, I reckon I spent less than £1000 on baby stuff. Pretty good going really.
We had a natural home birth. The total was $6800 out of pocket. Plus supplies, which ran about $300. Plus a doula, which was $1000. Oh yeah, we took a Hypnobirthing class, which was around $400. So I think around $9k. But the birth itself is just the tip of the iceberg of expenses. Yes, having a kid is the most expensive thing you'll ever do in life, so make sure you REALLY REALLY REALLY REALLY REALLY want to become a parent.
Avoid the cost of a crib, toddler bed and then "big kid bed." Go the Montessori way and by a quality matress. Co-sleep or use a bassinet while for the first few months while they still need to be in the same space as you. When they go to there own room they will be on the matress on the floor and then in the future all you need to do is put it on a base.
I sleep in the same bed with my mom as a baby though. She never squished me. But if you're scared of suffocating the baby then you should put pillows on both sides of them
yea i looked into the montessori method. if you want added protection and make sure the baby isn’t magically rolling around on the floor at 2 am just build sturdy fencing. i’m definitely not buying a crib but it is definitely more of a challenge to care for the baby bc u have to pick them up constantly
middle class having a baby is just brutal. my advice to you is be either rich or poor. I pay over $7k a year to have insurance and still have to pay almost $6k out of pocket for the birth :\
Congratulations. Im from the Netherlands and our daughter born almost 2 years ago. Our medical bill here was... Zero cent extra. Its all in the basic medical care system. We spend around 250 for baby stuff. Most of the things was a gift from friend or 2nd hands. The most expensive things was and still is diapers...
No kids for me! I'll just keep practicing when I want and doing what I want when I want. The same people wishing kids on me are the same ones wishing to go on vacation with me
In my area, it was so expensive that my wife’s entire income as a receptionist would have barely paid the costs of daycare. If one of the parents/partners is lower paid, you should seriously check if going to work is actually costing you more money than it would be to stop working.
I just started watching your videos, this one was about 7 months ago so the baby must be coming soon. Good luck and congratulations, I hope he/she is in the best health.
Awesome. Well thought out. Just absolutely awesome. Not many think of all this. Of course some people do consider a few expenditures related to having a baby, but their foresight is usually short. I love the way they revealed that they two are not completely certain what the total cost will be. Awesome THREE CENTS
Julia got pregnant from the last video? In high school health class, my teacher didn't tell us you can get pregnant from watching videos. This is good information. Thanks!
Till now, I have only read one book and watch your channel about personal finance. I really appreciate your channel as it makes everything very easy to understand. About the emergency funds, in the book which I read, the author said to keep aside 6 months to 1 years of money. Depending on how your income and spending is and how much it will affect if either one of the couple loses job or cannot get paid.
Thank you so much for this video. My wife and I spent months in to thinking if we should have children's . We just saw the impact a child will hiave in our life. My wife and I decided not to have children. Just made an appointment with the urologist for a vasectomy. With that money we can both pay for our doctorate degrees and travel the world. Thank you from the bottom of our hearts for brining a life in to the world to maintain our capitalist society. We are providing for our future with psychology and engineering. Sacrifice have to be done. Best of luck!
Congratulations on the pregnancy. We ourselves are just about to become parents in a few days (fortunately in a country with much more favourable maternity leave rules). But I got to say I'd love to see the source that says the environmental impact of single-use diapers is comparable to that of cloth diapers. Taking into account the resources, manufaturing, transportation and the non-depomposing nature of the single use diapers, it was a no-brainer for us to go for reusables. We got bleached and non-bleached kinds for a try-out but TBH we like the appearance of the non-bleached even better, so we might stick with those.
But that would be... (*gasps*) *SOCIALISM* 😱😵 Freedom must be protected and enforced at any cost, even if that requires sacrificing the wellbeing of you citizens! 😎 On a serious note, Bernie Sanders was the only hope Americans had for any reform, and yet again it comes down to choice between a businessman with no regard for the average citizens, or a guy with dementia and, controversially, possible pedophilia. Normally I don't ramble like that, I let myself loose too much.
@@TheBusttheboss the military budget for the US is more than what's spent by the next 10 nations combined. We don't need hundreds of bases in other countries and disarming even a quarter of our warheads would reduce our spending exponentially. We don't need to be the sole arbiter of justice in the world.
@@Taurus388 people in south korea are literally protesting and trying push out US occupation because soldiers have hurt, killed, and r*ped dozens of their citizens. PSY literally made a song about hating the US in response to US soldiers running over and killing two Korean school girls. The US should not be the worlds global task force.
@@Taurus388 Japan only needs that protection because we made it literally illegal for them to have a military after WW2. Not to mention, while the US DOES have way to punish its soldiers, because of the well known culture of sexual assault, it is only rarely that anything actually happens to those soldiers who commit these crimes. Do I need to tell you about the side effects of the American 'protection' sent to Vietnam and the mass r*pes and murders that happened? That almost all of the Americans involved were never tried for it? Regardless, even if SKorea and Japan need protection from foreign powers, half the nations we invade do not need to be invaded, and we do not need to keep our soldiers in countries with people who are already protected, like Italy.
Cloth diapers are much better for the environment. The fact that the diapers arent thrown in the ground for hundreds of years makes it better. There is a water and electricity costs but it's nothing compared to what disposables uses. Not to mention the gasoline used for traveling. Not to mention it's much cheaper. You can spend around $50 from birth to diaper weaning if you dont want the fancier ones, Plus detergent.
85 weeks of paid leave?!! how tf does that work?!?! so i take it all a woman has to do over there is to get pregnant again before that 85 weeks ends. that's crazy.
@John B That's actually a trend-even though discrimination isn't legal, you'll find in that situation that women of childbearing age struggle finding a job. It just doesn't make business sense for an employer. Why are they going to hire someone at the same salary and then risk having to pay leave for a year and a half with no productivity. Then, if they even come back at all, there's issues with child care, doctor's appointments, etc.
It happens because government policy has been structure to insulate people from the consequences of their decisions. Can't afford to feed the baby? There's WIC, EBT, and free school lunches. Can't afford housing? Section 8, rent discounts, utility discounts. No education? State sponsored training/certification. No one to watch the kid? Daycare discount. Can't afford the doctor? Medicaid. I'm all about helping people that need it or fall on hard times, but the lack of responsible decision-making by a lot of people makes me wish there was a licensing requirement or parental test required before having a kid.
CLARIFICATIONS AND CORRECTIONS:
- We only ended up spending a little less than $100 on a car-seat. The line a 3:06 is a bit confusing, and sounds like we planned on $800 for a car seat. The animation makes it look like $800 for a car-seat but, Philip actually read "$800 for a car seat, room decor, and anything else we don't get from our registry.
- In hindsight we now know we were naive to assume breastmilk is "essentially free". Between pumps, consultants, increased appetite, etc., it most certainly is NOT free. Our apologies to the mamas out there that know better!
-- TC Team
Nonetheless, another awesome video. Best wishes for you three!
Congrats for the third cent!
Still, breastfeeding might not be free, but its a LOT cheaper than formula, especially if you go for the top brand (Nestley, etc) which are ridiculously priced.
Also, in my country lactation consultant is free. We had babies in 2 different provinces and in each one, we had nurses visiting at home just to check that everything was going well at the beginning and give us free stuff (mostly samples, but still) to help.
I really find that US is behind most other developed countries when it comes to raising children.
Wait breast milk isn't free?
I am not 100% sure if you already did made a video about avoiding Impuls buying. Maybe an interesting topic with some othe themes in one episode of money saving. Me for example: I keep a list of things I would like to have and one month later I look if I still need/want them. It saving me a lot of cash and living space :D btw I am from Germany and a huge fan of your show and I wish all the best for the upcoming challenges but on the financial side there is everything in good hands I guess ;]
This whole channel should be turned into a high school class and taken all four years of high school.
Haha, that would be awesome. Thanks Tony! - Philip 👨🏻
@@TwoCentsPBS You're welcome and congratulations on the baby. Everything you talk about applies to everyone, everyday. There is no politics or sugar coating just plan facts. If more kids where educated in this everyday finance, the world would be a better place for everyone.
Exactly, I learn more here than I ever did in school.
Yes, I didn’t learn jack 💩 about money 💰 at school
So True.
You got pregnant just for this video? Now that's dedication!
Deus Ex Machina
😉🤫😂🤣
😂😂
Next up, how much does a funeral cost?
In all seriousness, I've been suspecting for awhile that this whole series is a side hustle to help pay for this kid.
@@TheRealE.B. you Brazy 😄😄😄😄
"And that's our THREE cents"
y'all are too cute!
Really🐰❤️
You will also get a nice hubby like him.. Don't Worry❤️
I was your 300 like. You are welcome
"y'all are *three* cute!"
wait for 4 cents and maybe a nickel
3 important things that are not being taught in school:
1. How to be financially literate
2. How to prepare and become a responsibe parents
3. How to be respectful of one another/ values
1 How to be a devoted consumer
2 How to become a wage slave
3 How to respect authority
@@saagisharon8595 hard shit
@@saagisharon8595 there we go
Modern feminism ruined just about all of those things you mentioned.
@@ez-g3090not rly tho
"Medical costs"
*Laughs in European*
I don't know if I should laugh or cry.
In UK we choose to go private
I mean, laughs in any first world country. It's only the US that doesn't have health care...
Well remember that the cost that you don’t pay in direct heathcare costs you pay it anyway in general with an higher taxation, which is great in my opinion as a European but it could be something not everyone likes(especially entrepreneurs and self employed people)
U pay in our taxes tho
This series is seriously underrated
Thanks so much for the kind word king A! - Philip
Yes love from Pakistan
Congratulations Julia and Philip! It was nice that you could actually apply yourselves and your experience into this video! Congrats again and another great video from Two Cents!
I think you mean Three Cents...
Thanks Ruby! Always so great to have your positive energy early on in the YT comments 😂! I love the work you're doing with you channel BTW (I'm a big MTB rider and love national/state parks)! - Philip
@@TwoCentsPBS Oh my Word! Thank you so much! :)
3 cents, don't neglect the little one :D
@@DJPoloMan lol
Makes it all the crazier when you see people struggling with money having a new baby every other year
They depend on the government, barely living day by day. They are usually at poverty level with no savings. They are not exactly happy.
They’re one more baby away from finding happiness.
Great video! I just wanted to chime in that cloth diapers do not cost anywhere near what disposables do. I did a diaper laundry load every 4 days or so and it was so convenient as a stay at home mom. We used disposables when we traveled and at night as they do stay dry longer and with cloth they need to be changed right after the go but it wasn't a hassle at all and in no way did it cost $80 a month for laundry even with twins. After the kids were potty trained the diapers made great cleaning rags too! I just want to encourage others that want to use cloth diapers to go for it!
Yes and even if the carbon footprint was similar, the waste that goes to landfill is much less.
I covered this for a school project! Based on the data I found it's actually more likely children who use cloth diapers become potty trained faster since it irritates their skin more and they dont like the feeling. I'm not saying let them sit in it for a while or anything, but since it's so uncomfortable, theyll learn quicker using the toilet doesnt have any pain lol
Not sure if I'd use old diapers for cleaning inside the house, maybe they can become garage towels?
I am 28 and childless (hopefully a mom someday). But at least once a year, my mom calls me to let me know she just washed my diapers and hung them out to dry. She’s saving them for my own future kid and is very quick to remind me, “They last forever! I ordered them from Japan. Those were expensive back in the day, you know.” I love my mom! Hehe
It's $50/mo here not including the cost of diapers spread over their lifetime
If it’s a girl, call her Penny. You said in the “How People Are Dumb With Money” video that penny always makes the correct financial decisions.
I don't even plan on having a kid, I'm just curious of the cost😅
PF Mike Same thing here - I’m just looking at how much money I’ll save!
Olivia Russell i agree😂
Bichr Salhi Do you have kids?
Yeah same, I just wanna feel pity for some friends who’ve lost a lot of money in this endeavor.
Saaaaame dont want kids.... no matter how much my relatives and parents insist that I should get married and have kids nope this makes me definetly not want to have kids.... or get married.
One of the 1st things my wife and I did was buy a tax free mutual fund for our son. The year before he was born we set aside $5K to buy it when he was born. After that every year we use our child tax benefit to buy addition tax free mutual funds. By the time he's 18 he should have about $140K adjusted for inflation to be used for things like education or a house or starting a business or investing etc. Our only out of pocket cost for that $140K is $5K. The rest came from the tax credit that all parents get. Our total costs over the last 2.5 years has not actually been all that high. We avoided a lot of stuff. Like all the cute clothing which is pretty expensive.
As for the birth I live in Canada so there wasn't a bill at all. There was no C section either. Didn't even pay for parking because that weekend was a long weekend and the parking was free. If the parking wasn't free I think the was would have been $20 for the 2 nights we were there.
systematic101 you are a legend
I got so confused when they started to talk about hospital bills like " what? hospital bills??" then I remembered I live in Canada too lol
@@jaeda6811 sorry man, I think it sucks to pay that every year in taxes without even having a baby
@@darllington8995 You def don't need to be sorry lol. I will take the yearly taxes over paying out of pocket for medical bills any day!
@@darllington8995 but you pay insurance don't you, without always needing the medical attention?
Moral of this story don't have kids unless you can afford them.
The politicians want people to have more babies, unaware of why we can't.
I still wouldn’t, I would rather adopt.
I wish more people actually had that mindset.
@@isabelchaparro2608 you still have to pay for their expenses
@@nabeel9187 exactly so might as well have one that will actually be yours... im pretty sure having a kid is work and money but not as bad as people make it seem because I have seen in life that most people always over exaggerate everything
"Medical bills"
Me: (kisses Canadian passport)
As you get suboptimal care
@@tech-hilfeportal6611 Really? How come Canada has a higher life expectancy that the USA then? To be fair healthcare in Canada is frustrating due to long wait times, but the quality of care is outstanding in general.
@@marc-andreservant201 culture differences explain the difference and life expectancy
Amazing how people forget that taxes are a bill too.
@@channell11 yes but you can pay 10000$ in 10 years in taxes and cover 1000000$ of expenses that you would have paid in the USA. One way or another everyone will need medical care, it's better to pay a small amount every month to cover for any expense, than to pay nothing at all and realize in your darkest days that to be able to stay alive you need to pay an amount that will bankrupt you.
Wait, Julia is actually pregnant? That's incredible!! Congratulations and what an awesome way to start 2019!
Can't wait to become a father myself so I can imagine how excited you guys are. Thank you for another great video.
EDIT: "That's our Three Cents" Yeah that was just too adorable.
Lolz. Yep. It's real. I've actually been pregnant in every single video, we just thought it was time to finally fess up! - Julia
As a new father, you will never be the same. You sleep with your ears open, always making sure you have baby necessities stocked up, better to buy in bulk. When they start walking, you make sure there is nothing that can harm themselves with. Eyes always on them. Make sure utems within their reach are not choking hazards. They will get sick easily, so stock up on remedies and be careful with medicines. Always seek doctors advice on dosages. And of course, patience.
LOL... yeah it was pretty obvious. You gotta look at the angle of those shots!
@@TwoCentsPBS Well I'm glad you finally fessed up. Good luck and take care.
But ur old...that pix. 😂😂😂
The worst part is buying expensive food for somebody who "isnt hungry" lol
Let’s assume that it would cost $288,000 to raise a child from age 0-18. That would work out to $16,000/yr, or $1,333 per month over 18 years. Now let’s assume that instead of spending $1,333 every month on your child, you chose to invest that money at the start of every month in the stock market using a total market index fund that returns 10% annually. At the end of the 18 year period, you would have over $810,000 in your account, of which $523,313 is investment gains.
The real cost of raising a child is roughly $810,000 and NOT just $288,000 when you factor in the opportunity cost of spending that money instead of having it invested in the stock market with compound interest at work.
and if you spend time you would spend and health you would lose from sleep deprivation working for money instead, you will make even more. but it's preferrable to spend that money on yourself to also compensate for hapiness
I'm single and yet this video gave me a panic attack.
I have a one year old and this video gave me a panic attack
But a single disposable diaper will take 500 years to decompose. How would that out weigh washing a reusable one?
DriedMangoPie That was what I thought!!! Terrible idea thinking plastic diapers can be better for the environment in the long run. I love the channel, but this part kind of put me off
They were quoting a study. Washing detergent and use of electricity in cloth nappies is not as green as you think. Still greener and power to you if you can do it. My friend uses a bamboo insert in there cloth nappies which makes more manageable and puts the inserts into compost. I would like too for my 7 month old but find it difficult on top of the other washing
As far as I can ascertain the study quoted only looked at the environmental impact of disposing of the nappies at the end of their life compared to washing cloth. I haven't seen anyone factor in the environmental cost of manufacturing a few hundred disposable nappies versus a few dozen cloth nappies.
It depends on what you consider bad for the environment. If climate change is the concern, which I think most people mean, then whether or not a piece of plastic continues to exist has no negative impact. Trash looks bad, certainly, but in the end it's really a question of the manufacture and transport of the materials involved in making the diaper versus the farming of cotton, manufacturing the cloth and diaper, and the additional electricity used at home for laundry and at the water treatment facility. Plus, you'll still need plastic on the outside of the cloth diaper anyway, since cloth alone won't hold in fluids. I don't think anyone is so committed to not using plastic that they'd want poop and pee leaking all over their house.
My mother washed the cloth diapers she used for my siblings and I (there were no such thing as disposable diapers back then). After we grew out of them, the diapers were handy cloths to clean the house with.
Half of this episode made me glad I live in Canada, I can't afford a kid, but those extra medical cost nearly made me faint. That's insane! Congratulations on the new kid, hopefully its favourite hobby is sleeping through the night like my sister, and not mine which was crying.
Yap, it seems to be extra hard to have a child in the US. Luckily there is child money, free kindergarden, free health care and 42 weeks of payed maternity leave in my home country. But that are according to American conservatives just the symptoms of the European nightmare we live in ;)
Yea I have 4 kids. One was a C-section. No out of pocket cost for the midwife, childbirth, hospital stay or any after care the babies needed. Every child we had we left the hospital the same day. Only with our second, which was delivered via C section, did we stay overnight.
It's so sad to see the struggles in the US. If you have twins, which are almost all born via C section and premature, which required extra care and more expense. Plus usually a solid year to stay home and get them off to a good start, most middle class famlies are going to go broke.
I'm gonna guess the reason for this is because overpopulation? I mean we have over 300 million, heck even in the state of California there's slightly more people than Canada. Another reason why I want to move to British Columbia.
@@WAncouvOR But imagine 300+million paying into a single payer system. Plus the ability of that huge system to negotiate drug prices. Its like Walmart buying from a potato farmer. They get the best price.
No doubt about it... My total income tax bill in Canada is less than the cost of most medical procedures in the US, which includes my health care costs. Why would anyone want to pay a few hundred less in taxes only to pay thousands more in insurance costs and medical bills?
Having a baby it's a straight 20 years funding project!
Congrats Julia and Philip....love your videos....Thanks For giving us TwoCents
3Cents*
Be fruitful and multiply and have at least two more kids.... Someone has to pay into the social security system for the next generation. So it never runs out of funds
I'm due next week and have probably spent a total of $400 on anything related to pregnancy/getting ready for baby, including all of my prenatal care, maternity items, and a fully stocked/furnished nursery. Kids are as expensive as you decide to make them. Just need to get smart/creative.
Some of these prices are even insane! My son is 2 and we’ve been $300 ish on car seats. Infant and convertible. His crib was $120, and he’s still in it and will be until 3!
Yeah it's like the purposely chose to overpay and then call it the cost.
Share a bed and you don’t have to pay for a crib
For europeen me all those prices are just incredibly high!
Congrats on the baby guys!! 😉☺ I think your child will certainly grow up to be a very wise individual! ❤
TrueBlue342 they fcked and i want a vid of it
Another issue no one talks about is overpopulation...
Well...we already hv 7.5 billion ppl on the planet! most scientists agree ~2 billion is the carrying cap of humans... with respect to all other sentient beings. We are way over carrying capacity.... besides latest ipcc report says we only hv 10 yrs to stop runaway climate chaos! Meaning if we all dont change our lifestyles everyones kids are fkd! You know I already decided Not to hv kids! Having one kid is a lifetime of carbon emissions! And if your kids have kids that multiple generations...
So 2 billion is a cap considering all earths species, with regard to habitat and space needed for survival. For example wolves need about 100acres of land each, for hunting/survival. On avg they generally run 20-35miles per day!! And thats just one animal... with habitat destruction, human sprawl and hunting/trapping, animals have less and less areas to survive. Thats why most are going extinct today.
Very last white male rhino died last yr! Many shark species are considered extinct today cuz of shark fin soup fishing. N America used to hv about 60million buffalo... now we have like 31,000. We shot them all to destroy native americans' main food source! There are pics of stacked piles of buffalo bones 2 stories high... humans destroy everything!!! Everything! Not even exaggerating! N america used to look like yellowstone nat park.... all of it!! Moose, big horn sheep, elk, deer, wolves, buffalo, bald eagles, all kinds of hawks, bears everywhere, mtn lions, honey badgers, river otters, wolverines, etc etc. Why do u think thousands of ppl travel to yellowstone every yr. Cuz thats one of the last few places u can see animals living in the wild and not in a fuking tiny cage at the zoo!!! 7.5 billion humans on the planet! 7.5billion... estimated less than 10k chimpanzees!! Seriously we dont need any more human babies...
Watch "Sir David Attenborough on Overpopulation" on UA-cam
ua-cam.com/video/JRPmLWYbUqA/v-deo.html
@@lolouro2266 fam then do something about the places where the birth rates are massive in Africa, India and China's birth rates are actually pretty low now
@@mashedtomato2079 actually its more effective to reduce population in 1sr world cuz we waste or use much more energy per day than 3rd world. India, africa, and most of china live of 5$ per day equivalent.
In canada you actually get a full year of maternity leave! And it’s being offered to take 18 months now as well instead of 12 for government workers!
I almost wonder if intentionally having a child is just too expensive for my demographic. :(
I can't wait for the day when your teenaged kid watches this and is like... Phew! my parents are calculative af. 😂
I was today years old when I learned you had to pay thousands out of pocket to birth a baby.
Last time I commented, you two almost tripled in subscribers! There is no other channel that deserves it more!
I know, crazy right! We're incredibly blessed to have amazing support from PBSDS getting the word out early on and from awesome viewers like you. Thanks for the kind words, Juan. -- Philip 👨🏻
comment tomorrow and hope the trend continues
I love how you guys are a team🙌🏽 No one is more important that the other. Love it
Now we just need to paste this at every highschool and middle school
I would love an update on this a year on - how close where the actual spends to the planned budget?
An update would be nice...a couple years from now so we know how much to raise a baby to childhood or even adulthood.
I'm very confused how UA-cam knew to recommend this to me.... I just found out I'm pregnant today.... And I didn't do any searches..... Hmmmmmmm
congrats. your phone always spies on you. you know with okay google/ siri activated? otherwise it might just be a coincidence.
Your personal FBI agent reccomend it for you 😉
@@clarakhong1148 lately I'll just be having random conversations and my phone will start searching what I'm talking about, even when its locked. Wierd
F
"Three Cents!" D'awwww.
Robert Konigsberg yeah
I was berated by my supervisor 20 years ago when he found out my wife was pregnant. He criticized me for not making enough money to bring another child into the world. I replied "if we had to wait until I could afford kids, we'd never have them." I left this job. He got fired a couple of months later.
I hate that so many employers forget their workers are people.
Lmao USA in a nutshell
@@fixafix69 if only... Is like this throughout the whole Earth
I believe money matters but expensive doesn't mean better. I'm sad when I see today's kids having almost all the knowledge of the past and close future in the palm of their hand but they choose to spend time on useless things
No offense but growing up poor sucks and wouldn't wish upon my kids.
Gotta love growing up poor though.
I would suggest taking a dog instead, but I've also seen your video on the cost of having pets 😅
Houseplant might be the cheapest option...
@@TwoCentsPBS definitely pet rock is cheapest option. Doesn't eat nor drink and all you have to do is dust it off sometimes :P
NuSpirit Just a pet air is better, cleaning dust is time consuming
@@binaryorbitals 😅😅😅😅
@@NuSpirit_ I imaginary pets are even cheaper than that. You don't even have to dust them or purchase them, and they follow you around everywhere.
The real cost is sleep and losing hair on my head.
Lmao *too true*
I can’t believe that Julia got pregnant just to make this video. That’s serious dedication.
Congratulations!!! We are so happy for you
This may be the most wholesome UA-cam video of all time.
I congratulate you both...
Stay smiling..
You know whenever I'm a little stressed, I watch their videos it makes me smile...
God bless you 😇👍👍
Good advice - we'll keep smiling, Jatin! - Philip 👨🏻
"Sue me, I'm worth it" is my favorite line of this video
Adjustments are a little easier to make... if you don't have to make them. We were a single income household prior to having children, so we already knew how to live on one. the stay-at-home mom adjustment wasn't necessary, we didn't have to worry about maternity leave, and we didn't need babysitters.
Prenatal and birth: $0 - insurance covered all 40k+
Car seat: $100
Crib and bassinet: free from family
Baby clothes: free from family and friends. What we did buy came from credit on returns
Childcare: Not needed aside from the occasional grandparent visit
Feeding: Skipped formula so free since no issues with breastfeeding
Birth certificate, etc.: Probably $50 or so for various ID things
Diapers: Used cloth. I don't remember initial cost offhand, but it was significant to get started. Didn't notice any large increase in water or electricity bills from the washing
In the first year of our first child, I'd say our total costs didn't exceed $1000 (probably much lower than that). Some of that was luck (good health, people giving us things) but a lot of it was being prepared, knowing our options, being willing to do a little extra work (cloth diapers) and living in a low cost-of-living area.
Wish this comment had more up votes. A lot of the things they spent money on were not actually necessary, like the yoga classes. A lit of things can be bought used instead of new without sacrifice of quality, or are given to you.
Congratulations Julia and Philip! Let's hope that the baby's good investment lol
Thanks! We'll make sure she's paying for herself by age 2. They can have a paper-route by then, right? - 👨🏻
@@TwoCentsPBS She could help you when you grow older:)
To my eyes and I have good investors eyes baby is a bad investment to make. A lot of cost you have to pay upfront and your return is minimal or it could be nothing as far as I can see
How to save money on a baby:
Step 1. Don't have one.
Michael Bates 😂😂😂😂
Or invest on condom..
Step 2: don't live in the US.
baby = happiness
baby= takes care of you when you get old
=> baby=asset
@@RogueTwo1677 one dollar Jimmy's work too
Literally half Italian lives with 1k a month, I can't even wrap my head around having to spend that much on anything
Cesarian births are free in Spain.
All tests are covered.
All healthcare is free.
No deductibles.
Ultrasounds are free too.
All baby medical costs are free.
@ no one gets stuck with anything. We all pay taxes to have free healthcare. No one ever protests about it by the way, everyone wants to keep that system because everyone has used it! Every doctor visit we do is for free.
Every necessary treatment is for free. Every medicine we need is for free.
With the exception of opticians and dental treatment, everything else is covered.
We have one of the most advanced healthcare systems in the world by the way, funded to the max and a reference for other countries, as well as highly well received by the population/satisfaction.
No one is hurting because they pay more taxes.
Getting a baby costs 0€,with cesarian and epidural.
Your child's treatments until he is 18 are covered, whether he need spine surgery, gets a cold, gets a herpes, gets whatever! You don't worry about that, you go to the doctor (it's for free) and you get a receipt for a treatment, a reference for a specialist (also doesn't charge-they're for free) or a medicine (for free).
When physicians get payed a public salary and thus have a stable job for life, there's more chance they work for the people, not for their pockets.
@@dodid0 exactly! I live in the US, we pay some of the highest taxes towards medical expenses but get nearly nothing in return. If we actually used the taxes that are already supposed to go to medical care, it wouldnt raise taxes. Not only that, it benefits everyone. Why wouldnt you want your medical bills covered!? I'd much rather pay higher taxes and know I'd have proper care following a deadly disaster, than having fewer taxes and have to decide between bankruptcy or my health.
Spain is one of the most highly taxed countries in Europe. It's public pension program and public spending trends are unsustainable. There's definitely a cost.
Out of all the videos my fbi agent recommended me, im glad he/she showed me this one
Thank you guys for doing this 😂 I've been asking for the past few episodes for you to make one about this topic!
Hope it lived up to your hopes! -- Philip
Washing cloth isn't that gross and it only adds 2 loads so the price for electricity and water isn't skyrocketing. You can use them for a second child or sell them when you're done as well.
Not to mention that it drastically reduces the likelihood of diaper rash.
Step one:
Don’t have kids
Step two: enjoy the loneliness
Step three: enjoy the freedom and your savings
Baldoxxx4000 4: buy a dog for company
5 travel the world 🗺
LTJuni0r umm ok thanks for ur input
Step 6: be proud that you didn't contribute 58.6 tons of carbon to the planet.
www.theguardian.com/environment/2017/jul/12/want-to-fight-climate-change-have-fewer-children
Would love to see an update on this video with what you've learned since becoming parents! :)
My wife and I have four children. All four pregnancies add up together, expenses were under $5,000. Seriously having kids is not that expensive.
Congrats on the new addition (I assume by now he or she has made her debut)! We have just gone through the first year with our baby! I just ran the numbers for the first year, and it was less than $1700 total (the majority is health insurance on the new baby at $100/month)! Being pregnant cost more because we bought health insurance for me (at less than $200/month) and then cancelled it after he was born. So that was about $2000 total. Basically, babies are CHEAP as long as you share with other parents and then do your part and pass it down too once the babe outgrows it. I breastfed exclusively for 6 months and diapers are only about $15/month (50 cents a day).
They grow so quick. Put aside time to see them grow :)
Cheap Filmmaker My Dad was a resident when my brother was born and didn’t get to spend much time with him. He took a month off when I was born three years later (Mom and I almost died, he almost had to deliver me, so she needed some help and we all needed time to get past the trauma, lol!) and he still swears that it helped him bond with me faster and easier. He was able to get into the groove of understanding what I wanted or needed and was able to help more because of it. I think me being the second baby also helped, but he still thinks it was pivotal.
@@SunflowerSpotlight Glad it all turned out ok for you and your family. My parents had to live separately for more than 7 years (they didn't have a choice). One was in Germany the other one in France. I was in Vietnam for some time. I wish no kid has to endure parent separation like that.
Cheap Filmmaker My goodness! I’m so sorry! That must have left a big imprint on you. But I think for most people, it’s in the stuff we wish we could erase that make or break us, help define us and make us stronger if we make it through it. I hope things are happier for your family now.
I’m actually in the car waiting for my mother. My parents and I are driving three hours to a good hospital. She’s having surgery. An eight inch (large grapefruit) sized mass in her abdomen. They can’t tell if it’s cancer or not and is having surgery in... four hours. So wish us luck! I’m staying nights. We’ll play cards.
Can we appreciate that they just put on the screen "It's a baby!" Like it'd be anything else lol
Not that I ever plan on having kids, but I've heard that you shouldn't every buy baby furniture used because they're prone to recalls and could have safety defects.
My baby can be due any minute. She scheduled for next week. Excited
How about the real cost of my dad leaving me when I was 5
The same cost as the cigarettes he left to buy
Oof
Big congrats to Julia and Philip, and what a way to announce it :D
It would be amazing to hear what you learn from the experience from a financial point of view, but also as parents!
Such a great couple. Definitely excited for you two! Keep the videos up, I will keep watching.
To deliver my child, (which was a c-section) only cost me $300. Thank God for health insurance. Crib- $100 which turns into a toddler bed. Stroller with car seat $150 All of this BRAND NEW and I live in NYC. I refused to spend unnecessary dollars on things that I knew wouldn't be used long.
On your second child, you'll realize that half the items you bought last time, you just didnt need. When I see parents with the Cadillac of strollers with the bag hook, baby bag basket, 4 cup holders, detachable mobile and side airbags, I can always tell it's their first child.
Excelente canal de youtube, ustedes son grandiosos yo soy de Perú y esto nos dara una mejor idea de lo que debamos hacer cuando llegue el momento. Keep it up guys!
"Sue me, I'm worth it" is such a mood
Edit after I finished the video completely "That's are THREE cents" lol🤣
Congrats
This was a handy episode! Our little girl was born today! X
@@enoscarvalhomota2978
Her name is JHON CENA
@@enoscarvalhomota2978 Imogen :)
Your graph at 3:21 is not accurate, there is no mandate of paid maternity leave in the US, this is entirely up to the employer and is more often than not 0.
The US is the only country in the OECD that doesn't provide paid maternity leave by law.
Aww, the ending was the cutest thing ever! My warm congratulations for the new baby! :)
Thank you guys for making me feel good about my chosen path of bachelorhood.
Congratulations :)
Come on man
When you're dying from old age, you can look at your savings account and smile all alone
Good for you. Stay away from these feminist nags.
I thought I saw a bit of a bump in the last video! Congrats Y'all I'm sure you'll be great parents.
As someone starting to budget for a future kid, y'all should do a follow up video to this one after the first year to see how the expectations compared to reality :) P.S. Guten tag, Julia!
I'm so glad I had my kid in Britain. I paid literally nothing either for my antenatal care or the birth. If I didn't, there's absolutely no way I would have been able to afford a house, especially when you consider my daughter's medical bills.
My mum had my little sister a couple of years before I had my daughter, so I got a lot of stuff second hand from her. I come from a large family, so I was able to get most stuff for free. Which helped enormously. And I got an ex display pram for very little. I think there was a scuff mark or two, but nothing beyond that.
All in all, I reckon I spent less than £1000 on baby stuff. Pretty good going really.
We had a natural home birth. The total was $6800 out of pocket. Plus supplies, which ran about $300. Plus a doula, which was $1000. Oh yeah, we took a Hypnobirthing class, which was around $400. So I think around $9k. But the birth itself is just the tip of the iceberg of expenses. Yes, having a kid is the most expensive thing you'll ever do in life, so make sure you REALLY REALLY REALLY REALLY REALLY want to become a parent.
With the financial practicality of these two, their kid is in good hands!
🎉Congrats🎉
Avoid the cost of a crib, toddler bed and then "big kid bed." Go the Montessori way and by a quality matress. Co-sleep or use a bassinet while for the first few months while they still need to be in the same space as you. When they go to there own room they will be on the matress on the floor and then in the future all you need to do is put it on a base.
Never ever EVER sleep in the same bed as an infant. You could roll over them and suffocate them.
Yeah you could get them a bed that is low to the ground. I never had a crib but sleeping with the baby isn't a good idea.
I sleep in the same bed with my mom as a baby though. She never squished me. But if you're scared of suffocating the baby then you should put pillows on both sides of them
yea i looked into the montessori method. if you want added protection and make sure the baby isn’t magically rolling around on the floor at 2 am just build sturdy fencing. i’m definitely not buying a crib but it is definitely more of a challenge to care for the baby bc u have to pick them up constantly
middle class having a baby is just brutal. my advice to you is be either rich or poor. I pay over $7k a year to have insurance and still have to pay almost $6k out of pocket for the birth :\
Congratulations. Im from the Netherlands and our daughter born almost 2 years ago. Our medical bill here was... Zero cent extra. Its all in the basic medical care system. We spend around 250 for baby stuff. Most of the things was a gift from friend or 2nd hands. The most expensive things was and still is diapers...
*The idea that mother's milk is free isn't true.*
*You need to factor in the time off required to either pump/feed.*
I TOTALLY LEARNED THIS THE HARD WAY!! : )
Plus, you'll have to eat more to produce the milk.
No kids for me! I'll just keep practicing when I want and doing what I want when I want. The same people wishing kids on me are the same ones wishing to go on vacation with me
In my area, it was so expensive that my wife’s entire income as a receptionist would have barely paid the costs of daycare. If one of the parents/partners is lower paid, you should seriously check if going to work is actually costing you more money than it would be to stop working.
I just started watching your videos, this one was about 7 months ago so the baby must be coming soon. Good luck and congratulations, I hope he/she is in the best health.
Awesome. Well thought out. Just absolutely awesome.
Not many think of all this. Of course some people do consider a few expenditures related to having a baby, but their foresight is usually short.
I love the way they revealed that they two are not completely certain what the total cost will be.
Awesome THREE CENTS
That's what we call dedication...He Knocked her up for the video 👏👏👏😆✌
My husband and I agreed to have only one child. Having a child is expensive. I don't know how some couples manage to have three kids or more.
I KNEW IT! YOU ARE PREGNANT FROM THE LAST VIDEO!!!
Congratulations! :DDDDDDDDDDDDD
Julia got pregnant from the last video? In high school health class, my teacher didn't tell us you can get pregnant from watching videos. This is good information. Thanks!
@@thomaszabel1521 Dude what are you trying to achieve here?
@@dzaqwanamir I'm definitely not trying to achieve a pregnancy. Maybe if I win the lottery, but that is doubtful since I don't buy lottery tickets.
@@dzaqwanamir He's giving people a giggle.
Till now, I have only read one book and watch your channel about personal finance. I really appreciate your channel as it makes everything very easy to understand. About the emergency funds, in the book which I read, the author said to keep aside 6 months to 1 years of money. Depending on how your income and spending is and how much it will affect if either one of the couple loses job or cannot get paid.
Thank you so much for this video. My wife and I spent months in to thinking if we should have children's . We just saw the impact a child will hiave in our life. My wife and I decided not to have children. Just made an appointment with the urologist for a vasectomy. With that money we can both pay for our doctorate degrees and travel the world. Thank you from the bottom of our hearts for brining a life in to the world to maintain our capitalist society. We are providing for our future with psychology and engineering. Sacrifice have to be done. Best of luck!
Congratulations on the pregnancy. We ourselves are just about to become parents in a few days (fortunately in a country with much more favourable maternity leave rules). But I got to say I'd love to see the source that says the environmental impact of single-use diapers is comparable to that of cloth diapers. Taking into account the resources, manufaturing, transportation and the non-depomposing nature of the single use diapers, it was a no-brainer for us to go for reusables. We got bleached and non-bleached kinds for a try-out but TBH we like the appearance of the non-bleached even better, so we might stick with those.
Dear USA:
Spend half your mighty army budget on health care.
Br.
The rest of the world
But that would be... (*gasps*) *SOCIALISM* 😱😵
Freedom must be protected and enforced at any cost, even if that requires sacrificing the wellbeing of you citizens! 😎
On a serious note, Bernie Sanders was the only hope Americans had for any reform, and yet again it comes down to choice between a businessman with no regard for the average citizens, or a guy with dementia and, controversially, possible pedophilia.
Normally I don't ramble like that, I let myself loose too much.
Cutting half of the army budget? Yeah not a good idea.
@@TheBusttheboss the military budget for the US is more than what's spent by the next 10 nations combined. We don't need hundreds of bases in other countries and disarming even a quarter of our warheads would reduce our spending exponentially. We don't need to be the sole arbiter of justice in the world.
@@Taurus388 people in south korea are literally protesting and trying push out US occupation because soldiers have hurt, killed, and r*ped dozens of their citizens. PSY literally made a song about hating the US in response to US soldiers running over and killing two Korean school girls.
The US should not be the worlds global task force.
@@Taurus388 Japan only needs that protection because we made it literally illegal for them to have a military after WW2.
Not to mention, while the US DOES have way to punish its soldiers, because of the well known culture of sexual assault, it is only rarely that anything actually happens to those soldiers who commit these crimes. Do I need to tell you about the side effects of the American 'protection' sent to Vietnam and the mass r*pes and murders that happened? That almost all of the Americans involved were never tried for it?
Regardless, even if SKorea and Japan need protection from foreign powers, half the nations we invade do not need to be invaded, and we do not need to keep our soldiers in countries with people who are already protected, like Italy.
$250 000 according to some estimates... no thanks!
Cloth diapers are much better for the environment. The fact that the diapers arent thrown in the ground for hundreds of years makes it better.
There is a water and electricity costs but it's nothing compared to what disposables uses. Not to mention the gasoline used for traveling.
Not to mention it's much cheaper. You can spend around $50 from birth to diaper weaning if you dont want the fancier ones, Plus detergent.
love this. Thank you guys!!!
Congratulations 🎊
85 weeks of paid leave?!! how tf does that work?!?! so i take it all a woman has to do over there is to get pregnant again before that 85 weeks ends. that's crazy.
@John B That's actually a trend-even though discrimination isn't legal, you'll find in that situation that women of childbearing age struggle finding a job. It just doesn't make business sense for an employer. Why are they going to hire someone at the same salary and then risk having to pay leave for a year and a half with no productivity. Then, if they even come back at all, there's issues with child care, doctor's appointments, etc.
3 cents... That was painfully corny. I loved it!
And I still know a bunch of people with no job, no money, no savings and sometime still live with their parents who decide to have kids !!!
It happens because government policy has been structure to insulate people from the consequences of their decisions. Can't afford to feed the baby? There's WIC, EBT, and free school lunches. Can't afford housing? Section 8, rent discounts, utility discounts. No education? State sponsored training/certification. No one to watch the kid? Daycare discount. Can't afford the doctor? Medicaid. I'm all about helping people that need it or fall on hard times, but the lack of responsible decision-making by a lot of people makes me wish there was a licensing requirement or parental test required before having a kid.
I could hear the “Three Cents” outro from a mile away, and I LOVE IT! Congratulations to you both and our expanding family! God Bless!