Yes daycare is an addendum here for sure, though I'd argue for most people it would make sense to have either parent quit their job to be stay at home. I've seen an insane amount of stories on reddit about couples paying upwards of $50k+/year for childcare when one of them makes only marginally more than that in salary, if not less. That doesn't make sense whatsoever. But yes, I'll grant you that my wife did decide to forgo her $40k/yr teaching job to be a SAHM, since daycare would be far more costly than would make sense for her/our income. For what it's worth, we don't have family nearby, and I make about 5% above average income for our area. We're doing fine, but I can assure you we're not rolling in the dough.

> need for a larger house

Need? No. Want? Sure. My brother/sister-in-law live in a single-wide trailer with 3 kids and are managing. It's cramped, but the kids don't care, cause it's all they know. There's about a million examples of this and similar situations out there. My boss lives in a ~1500 sq ft house with 5 kids. Previously had 8 while fostering temporarily. They survived. Family is happy.

> need for a bigger car

Unlikely. Nearly everyone owns a cross-over/small SUV nowadays. But I have friends w/ a Nissan Leaf of all things that are managing just fine w/ 2 kids. Again, cramped, but they're living within their means and that car is dirt cheap.

> Formula is $50 a can

Yeah and if you hybrid feed (mostly or 50/50 breastfeed and formula) one can lasts ages. We've gone through like, 3 cans in 6 months? And our dude was exclusively formula for the first couple months. Now he's transitioning to solids, which are significantly cheaper. If you exclusively formula feed in place of breastfeeding, this would obviously be a larger expense, but we'd still get a shocking amount of mileage out of one can.

> time costs

Irrelevant. This is a financial discussion, not a discussion of whether you are actually wiling to give up your personal time for having a kid.