The "Have a Child" event is a Fixed Cost event, which means the budgeted amount will be added as a one-off cash outflow in the year that the event has been added to.

The intent of this event is to take into account the costs associated with having a child, that is - pregnancy, birth and setting up a nursery. While every family's experience is different, this provides a starting point for planning the financial impact of welcoming a new baby.

The event will also add Linked Events to your plan for:

These linked events help you see the future costs of raising a child at different life stages.

By default, the cost of children is adjusted for inflation. We also assume that the child is born in month 9 of the year in which the child is added to.

Pregnancy, Birth & Nursery Set-up cost

You can use the slider to select how much you're planning to spend on your wedding or input a number in the field above the slider if you want to budget outside the default range for the event (2k-100k)

On the right-hand side of the "Have a Child" event, you’ll see a chart displaying the estimated future cost of raising children by age and life stage. This shows the values that either will be set by default on the Linked Events or if you've updated the linked events - the current values of those.

By default this projection is shown in future dollars / actual currency but you can adjust the projection to show today's dollars by clicking the Chart Options Cog icon.

How Much Does It Cost to Have a Child?

There’s no one-size-fits-all answer. While there is a baseline cost for having a child, spending beyond that depends on your choices and lifestyle. You can adjust the budgeted amount to reflect your personal circumstances and preferences.

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