5 Big Parenting Expenses You Might Not Be Ready For

Having kids means buying stuff. Right away, you'll be buying diapers (but you might still be shocked at how much you'll spend before your mini-me is potty trained). Down the road, your grand financial finale could be paying for your child's college education or their wedding. You might even make the down payment on their first home. You'll face a zillion more buying decisions in between, including big, surprising parenting expenses you hadn't thought of and probably couldn't have predicted.

If you're thinking of increasing the number of humans on Earth and you're pragmatic enough to wonder how that decision might affect your bottom line, consider planning for these possibilities.

Parenting expenses you might not be ready for

Consider the financial impact of these costs.

1. Education (not college)

We're not talking about daycare. Fewer than 17% of children are enrolled in paid daycare, possibly because whether you can find affordable childcare largely depends on where you live. And besides, even if you don't pay for daycare, expenses can soar.

Here, we're talking about education costs. They loom until your child is grown and gone. Some parents will choose private schools, which can cost even more than college. But even families who don't go the private school route will face ongoing costs related to educating their child. For example:

• Some preschools charge tuition or fees.
• You might need to hire a tutor to help your child keep up with a tough school subject.
• Your child might want or need to take a class outside of school.
• You might opt to pay for private music lessons, especially if your child's school has cut their arts program.
• Summer, spring, and winter day camps can be a fun way for your child to experience immersive learning, and they are virtually never free.
• Public schools charge various fees, and your child could be left out if you don't pony up. Examples include meal or snack fees, supply fees, sports equipment fees, field trip fees, and lab equipment fees.

2. Orthodontics (even for straight teeth)

Modern dentistry allows us to correct problems, prevent future issues, and generally improve dental health from a very young age. By many estimates, more than half of today's kids will have worn braces by the time they are adults. Dentists can also take steps to help your child's teeth come in correctly and avoid braces, but there's still a cost. Whether it's a palate expander, braces, or mouth guards, expect to have to pay for some orthodontic work for your child. Then just feel lucky if you end up in the half that doesn't need orthodontia.

3. Transportation (above and beyond)

All transportation costs go up as your family grows. After the age of 2, your little person will need their own plane seat every time you fly.

Transportation costs at home are more insidious. If you're letting your child enjoy extracurricular activities, you could very well double (or more) the annual miles you normally drive. Translation: You'll spend a lot more on fuel, and maintenance issues will come up twice as fast. You'll also need to replace your car in half the time, and that's something many parents don't think about until it happens. Kids wear stuff out.

4. Babysitting

Unless you're lucky enough to have friends or family who are willing to occasionally watch your child for free or in trade, the cost of babysitting might drop your jaw. Even for teen babysitters, you might pay at least your state's minimum wage for your sitter's time. In California, that's $15.50 per hour. If you want to head out at 5 p.m. for date night and promise to come home at 10 p.m., you're looking at more than $75. Multiple children? You'll pay even more.

5. Activities (if you're cultivating grit)

This is the biggie. Most parents want to let their children participate in extracurricular activities. Activities build self confidence and grit. It's where your child can learn sportsmanship, leadership, and advanced skills. Children who participate in extracurriculars are happier than those who don't. Colleges want to see activities on your child's resume. Activities are a place where your child can be safe, supervised, and mentored.

With all of those reasons, who wouldn't want to sign their children up?

For activities that aren't free, the cost can easily hit $400 per month or more by the time Junior is 11 years old, and it keeps going up. If your child is passionate about the activity and they want to be as good as they can be, you'll want to consider enrolling them full time in the program, not just a class or two a week. Also, most kids at higher levels need private instruction in addition to regular training. And there are always summer intensives and camps that add to the annual cost.

Activities at this level include ice skating, dance, theater, gymnastics, horseback riding, and many others. Figure skating can cost $35,000 to $50,000 per year. Costs are usually broken out into categories like these:

• Classes
• Performance fee
• Costume fee
• Clothing and equipment
• Private lessons (not optional for top performers)
• Contributions to many fundraisers
• Travel expenses
• Professional photos and videos
• Summer training or intensives

How you can lower the cost of having kids

Thankfully, there are a few moves you can make to ensure parenthood is more affordable.

1. Start saving early

As you grow your family, it makes more sense than ever to be smart with your money. Get creative and look for ways to save that are a good fit for your lifestyle and personality.

Unless you are at least several years away from spending your kid money, put your savings in a high-yield savings account where it's accessible and earning interest. Having accessible savings gives you the freedom to make the choices that matter the most.

2. Shop for dental insurance if you don't have it

If all you need is routine care, dental insurance often doesn't make financial sense. That's because the cost can exceed the benefits you get. But if your child needs orthodontics, it's another story. Some policies do cover orthodontics, and the benefit is more than what you'll pay in premiums for the year.

What you don't want is to show up at the dentist's office and be surprised. That could force you to rely on credit cards to cover the cost. So set those appointments for regular exams and cleanings. If you plan your insurance purchase strategically, you could save a chunk of change.

3. Make the effort to find free activities

It's possible to find activities that are free. Take advantage of those as much as you can. There will still be registration and event fees, and you'll have to cover the cost of equipment and uniforms. It can take a lot of work to get freebies, but it's worth it. If you can find a community circus group that costs $500 a year instead of the local gymnastics program that costs $4,000 a year, you just got "paid" $3,500 for making the effort.

4. Ask about fee waivers

Speaking of freebies, don't be shy. No matter what the expense is, it doesn't hurt to ask if there is any way to get it for free or at a discount. You might get better results if you can show that your income is low, but sometimes discounts are available to anyone who asks. For instance, maybe you can get free tickets to your child's event if you agree to volunteer to help backstage. Or maybe you can barter with a private instructor to provide your service in exchange for theirs.

Parenting is a joyful experience. Don't let the cost scare you away. People at all income levels love being moms and dads. Anticipating some of the bigger parenting expenses can help you plan for the ones that are important to you.