The Economics of Having Babies

Even Sims Have Flour Babies!

This Research Project is due on Tuesday, 3/24 -- the day that you are required to bring your fully decorated, dressed "baby" to school for the first time.  We will do our first "Well Baby Checkup" on that day, then discuss the findings from your research on the topics below.  You will have Friday and Monday to research and compile your answers.

Open Microsoft Word and begin compiling information:
(Include links to online price sources)

UP FRONT COST:

• Prenatal Care: Including tests, diagnostic ultrasounds, doctor charges for the nine months of pregnancy. (Call physicians office)
• Prenatal Vitamins: Check Walmart, Kmart, or a local pharmacy for prices.
• Hospital Charges: Labor/delivery and anesthesia charges. (Call hospital)
• Pediatrician Charges: Well/sick visits and all immunizations. (Call pediatrics or physicians office)
• Nursery / Equipment: Crib, high chair, stroller, infant car seat, booster car seat, diaper bag, bottles, pacifiers, toys, baby/child-proofing supplies, diaper rash cream, wipes, shampoo, etc.

DAILY COST:

• Disposable Diapers (Kmart, Walmart).  Compare the same sizes from both stores and make a note of how many diapers are in each package.  Calculate how much each diaper costs and find an average price per diaper.
• Figure out how many diapers per day a baby uses (BabyStory, KidsGrowth, Babblesoft) -- Newborn / 1-3 Months / 4-6 Months / 7-9 Months / 10-12 Months.  Using the cost per diaper (above), how much will it cost per day (for each section) to diaper a baby.
• Figure out approximately how much [in ounces] baby formula a baby should use per day (BabyCenter) for a 6 pound baby / a 10 pound baby / a 15 pound baby / a 20 pound baby / and a 24 pound baby.  Compare that to the estimates for a Newborn / 2 month / 4 month / 6 month baby (KidsHealth).  On average, how many ounces (approximately) does a baby need each day?
• To prepare formula, you will mix one ounce of powdered formula with two ounces of water (to make 3 ounces of formula).  You will need to divide the total formula needed per day by 3 so you know how much powdered formula you need to buy.  Check out Amazon.com and find a good price for baby formula -- you might want to figure out the price per ounce to find the best bargain.  How much does each ounce of powdered formula cost?  
• How much is "baby food" (peas, carrots, applesauce, etc.)?  When do babies typically begin eating baby food instead of just breast milk or formula?  How much do they typically eat [up to one year old] per day?  What about "baby cereal"?
• What is your DAILY cost of a baby so far?  Add average costs of diapers, formula, wipes, baby food, cereal, etc.

ANNUAL COST:

• Annual cost of formula.
• Annual cost of diapers.
• Annual cost of baby food, cereal, etc.
• Approximate annual cost of baby clothes, shoes, coats, etc.
• What was your "Up Front Cost" (above)?
• What was the total cost of having this child for one year?

OTHER COSTS:

• Imagine that you are a single parent and you decide to take three months off work to have the baby and get him/her started.  Now your savings account is about empty and it's time to return to work.  How much will it cost to have your child in daycare/babysitting each day?  Each week?  For the next 9 months (about 270 days)? 
• What other costs might be involved in having a baby for a year?

GETTING HELP:

• What is WIC?  Who qualifies?  How can they help?
• What other resources are available for parents who need help being parents?