My wife and I have four children, and from personal experience the expenses of the third child (other than birth/medical expenses) were not really felt in our monthly budget. And yes, we track our budget very closely. Where things will get expensive is adding day care, preschool, private school and other outside care/education related expenses. If both of you are working, you would do well to have an analysis prepared of your combined incomes with child care, extra vehicle, increased taxes and other expenses vs. only one spouse working with possibly increased tax credits, lower taxes and fewer expenses.
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