5 New-Age Parenting Expenses That Didn't Exist A Decade Ago
My father always says that raising a child in his days was so much easier than it is now. I guess he couldn't have been any more correct! The only expenses that my parents had to worry about while my sister and I were growing up were our academic expenses, which was also just a fraction of what families have to shell out now.
The last few years have seen a huge change in the entire process of parenting. So, if you have just stepped into parenthood or are currently into the family-planning phase, take note of these new-age parenting expenses that didn't exist when you were little.
In a nuclear family, both the partners have to work to maintain a good lifestyle. So, they ultimately have to take the help of day care centres or crèches to take care of their little ones while they're away. On an average, such centres charge between 2000 and 5000 per month!
After the initial 2-3 years, the hunt for a reliable playschool for your toddler begins. Gone are the days when such schools charged a meagre amount and only prepared your kid for school. Nowadays, a reputed playschool can charge you anything around 10,000-20,000 per month!
This plays a major part of the entire cost of raising a child in the 21st century. Being a parent, you obviously would want the best education for your child. Hence, do not be surprise if the monthly academic expense of your high-school kid costs you almost a lakh or more per year!
P. S. – Add to this an estimated cost of tuitions.
Call it peer pressure or the necessity of this generation, your kid will ask you for various high-end devices as he/she starts growing up. A Kindle, an iPod, a Play Station, and then the latest smartphone – the extra expenses have just begun.
Learning doesn't stop with school, which is why the all-round development of your child is necessary. Dance classes, martial art classes, swimming lessons – the cost of these activity classes depends on the location, the teacher, the batch size, and the activity. However, be sure that the price tag is gonna be significant. Plus, it's no longer cool to visit grandparents during vacations. Instead, your child would want to go for summer camps. So, keeping aside some money for that too is advisable. How much? Approximately, 15,000 to 20,000 for 2 or 3 weeks.
Your mom and dad might not be familiar with this pricey part of being a parent but we'd you advice to plan your finances accordingly.