How Much Does it Cost to Be a Fifth Grader
Filed under: Budgeting & Planning, Family Finances, House & Home, Shopping, Back to School
So you're no longer shelling out for diapers and you've not yet hit the stage when Tommy or Talia is asking to borrow the car. But your pre-teen is still costing you an arm and a leg. How much? It's an important question to get a handle on as Canadians look to tighten their belts amidst worries of another economic downturn. Food, shelter, Hunger Games novels, it all adds up. By some estimates, the cost of raising a child from the cradle to "goodbye, see you at Thanksgiving," is a whopping $240,000. So here's a snapshot of the cost of a year in the life of your tween darling.
How Much Does it Cost to Be... a Fifth Grader
(STORY IN TEXT FORM CONTINUES BELOW)
1. Food
It used to be so simple -- and cheap. The first year it was virtually free thanks to breastfeeding and formula coupons. But then, all of a sudden they're demanding the same salmon steaks you're eating and you're making three trips to the grocery store per week for milk. Feeding a pre-teen costs a whopping $1, 835 a year. Boys are said to consume more food than girls but, regardless, this is big money for most of us.
Source: Moneysense.ca
2. Clothes
Most of us are spending about $60 a month to keep our fifth grader in the latest American Eagle jeans. These costs rise around back to school time and the holidays. The grand total annually is about $720.
Source: Statistics Canada
3. Personal Care
Trips to the pharmacy and the hairstylist for your ten-year-old can really add up. Consider that a boy's cut is about $15. Six times a year, that's $90. Like with almost everything, the cost is higher for girls. Toothpaste, shampoo, and other essentials to keep them from being ostracized from society, about $4 a month. Total: $138 a year.
4. Health Care
Canadians are, for the most part, very lucky when it comes to their health care costs. Doctors are covered by your tax dollars and most employee benefits include at least basic dental and drug plans. Still, for most families, there are costs that aren't covered, such as certain medications and treatments and portions of dentist visits. On average, for an ungainly kid with early-onset acne and buck teeth, uhhm, corrective measures add up to about $245 a year.
Source: Canadian Finance Blog
5. Recreation
All parents have dreams that their child will develop into the next Sidney Crosby or Christine Sinclair so we shell out big bucks on activities like hockey or soccer. On average, Canadian parents spend about $1,300 per kid per year on recreational activities including sports, camps and music classes.
Source: Statistics Canada
6. School Supplies
Books, binders, calculators and other essential supplies become a line item on every family's budget around this time of year. According to a recent BMO poll Canadian families will spend about $362 on back to school shopping. In a two-child family, the cost for one child is $181. Much to the delight of Walmart.
7. Shelter
It seems a bit harsh to assign the cost of shelter to a child but, hey, life's not fair and they're not paying rent. Shelter expenses for a ten-year-old have been calculated at $2,510 a year.
Source: Moneysense.ca
8. Household Items
He's growing out of his bed, staining your carpets and he broke your coffee table. The annual cost of replacing, cleaning or repairing this kind of stuff? About $230.
9. Childcare
The era when kids could walk home from school to the smell of baked cookies is well and truly over. Both parents work in most families now, which means that someone has to mind Debbie after school. Tack that on to babysitting costs and the hit is about $5,100 per year.
Source: Moneysense.ca
10. Transportation
She needs a ride to ballet, and he's ready to burn up the dojo at karate -- but he's got to get there first. The annual cost of lugging your loved-one around is about $2,000 a year which includes their share of the annual car, gas costs and insurance fees.
How much does it cost to be a fifth grader? $14, 259
SLIDESHOW: HOW MUCH DOES IT COST TO BE A FIFTH GRADER?
How Much Does it Cost to Be... a Fifth Grader
(STORY IN TEXT FORM CONTINUES BELOW)
1. Food
It used to be so simple -- and cheap. The first year it was virtually free thanks to breastfeeding and formula coupons. But then, all of a sudden they're demanding the same salmon steaks you're eating and you're making three trips to the grocery store per week for milk. Feeding a pre-teen costs a whopping $1, 835 a year. Boys are said to consume more food than girls but, regardless, this is big money for most of us.
Source: Moneysense.ca
2. Clothes
Most of us are spending about $60 a month to keep our fifth grader in the latest American Eagle jeans. These costs rise around back to school time and the holidays. The grand total annually is about $720.
Source: Statistics Canada
3. Personal Care
Trips to the pharmacy and the hairstylist for your ten-year-old can really add up. Consider that a boy's cut is about $15. Six times a year, that's $90. Like with almost everything, the cost is higher for girls. Toothpaste, shampoo, and other essentials to keep them from being ostracized from society, about $4 a month. Total: $138 a year.
4. Health Care
Canadians are, for the most part, very lucky when it comes to their health care costs. Doctors are covered by your tax dollars and most employee benefits include at least basic dental and drug plans. Still, for most families, there are costs that aren't covered, such as certain medications and treatments and portions of dentist visits. On average, for an ungainly kid with early-onset acne and buck teeth, uhhm, corrective measures add up to about $245 a year.
Source: Canadian Finance Blog
5. Recreation
All parents have dreams that their child will develop into the next Sidney Crosby or Christine Sinclair so we shell out big bucks on activities like hockey or soccer. On average, Canadian parents spend about $1,300 per kid per year on recreational activities including sports, camps and music classes.
Source: Statistics Canada
6. School Supplies
Books, binders, calculators and other essential supplies become a line item on every family's budget around this time of year. According to a recent BMO poll Canadian families will spend about $362 on back to school shopping. In a two-child family, the cost for one child is $181. Much to the delight of Walmart.
7. Shelter
It seems a bit harsh to assign the cost of shelter to a child but, hey, life's not fair and they're not paying rent. Shelter expenses for a ten-year-old have been calculated at $2,510 a year.
Source: Moneysense.ca
8. Household Items
He's growing out of his bed, staining your carpets and he broke your coffee table. The annual cost of replacing, cleaning or repairing this kind of stuff? About $230.
9. Childcare
The era when kids could walk home from school to the smell of baked cookies is well and truly over. Both parents work in most families now, which means that someone has to mind Debbie after school. Tack that on to babysitting costs and the hit is about $5,100 per year.
Source: Moneysense.ca
10. Transportation
She needs a ride to ballet, and he's ready to burn up the dojo at karate -- but he's got to get there first. The annual cost of lugging your loved-one around is about $2,000 a year which includes their share of the annual car, gas costs and insurance fees.
How much does it cost to be a fifth grader? $14, 259
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At this post kid and preteen age children are more likely to influence by the surroundings and there requirements start taking a whole new angle. All the things as mentioned by you becomes mandatory at this stage of life.
Latika
TorontoSuites.com
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