It costs between $134,370 and $269,520 to raise a child for 17 years, according to the Expenditures on Children and Families 2004 report. That means most parents need to spend at least $7,900 a year on one child.
 

This cost depends on a lot of factors. Rent is typically the most expensive part of a household budget. So, you need to figure out where you'll live and how much that will cost. If you can stay with your parents or other relatives, either rent free or with a low rent, that's probably your best bet, at least for a while.
 

Other major expenses are food, clothes, health care, day care, transportation, and your future education, meaning college. To get a personalized look at how much you would probably spend, check out Web sites that offer "baby" calulators, or click here.
 

Another way to understand these costs is to do some basic research in your area. When you have collected the prices, use them to create a realistic budget.

• Spend some time in the grocery store checking out prices, including baby food. How much would three meals a day cost? For a month?
• Look in the newspaper at the cost of one- or two-bedroom apartments and utilities.
• Price at least one full outfit for a child.
• Try to estimate child-care costs. Who will watch your child while you're in school or working? Do you have a relative who can help for free or at a low cost? Or call a local day-care facility and ask for yearly or monthly prices.
• Try to estimate the cost of transportation. Do you have a car? Or will you use public transportation? If you have a car, how much are your payments and insurance?
• Get a sense of how much health care will cost for you. How much is one visit to an ob-gyn?
• Try to estimate costs for health care for a child. How much is one visit to the ER? Do you have health insurance? How much is it to add a dependent to your insurance policy?

If you can't earn enough money to pay the bills, there are programs that can help, at least a little. Welfare provides a check each month. Food stamps provide a credit card that allows you to buy groceries. Most states now help single mothers pay for child care, while they attend school or work. If you need to, you should look at using these programs, while you establish yourself. The long-term goal is to take care of yourself and your child. These programs can help get you there.
 

Also, both parents should be contributing to a child's upbringing. Under the law, fathers must pay child support. Ask your baby's father how much money he will contribute. If he refuses or you feel it's not enough, contact your state child-support enforcement agency. They can help you file for support.

Money can make or break any relationship. Living without enough money is very stressful. So you need to figure out how to finance your family's future. It can make the difference between a happy or unhappy childhood for your baby.

To learn more from teen parents themselves, check out the Web site Girl-Mom.