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Costs go DOWN as kids get older?! Not in my household! I'm dreading the teen years...my food bill is already outrageous. This doesn't even factor in the cost of Little League and other extracurriculars.
Wait til the teen years - when you have ummm...clothes bills, sweet sixteen, prom, toiletries, clothing accessories (read: girls) chaffeuring services needed, your car insurance goes up because your kid got his permit/license isnt driving your car, but the insurance company has it's hand out AGAIN!, college prep course, school trips, overnight trips, team sporting events, needs culture trips to plays ($$).
Oh yeah, saving for college unless you think you'll be eligible for free college like one of my doofus friends who just paid off his house on the advice of his accountant - because with no cash in the bank and a paid off house his minority daughter will get Free College!! This is what is wrong with people who try to pull this crap.
The real question is, what if anything can reduce the cost of living?
Everything I come up with more or less are ways to cut back on one's expenses, but it does nothing to control the COL.
Hating to bring this up as it is not intended to be fresh or nasty but -
looking at our taxes we have to somehow reduce what we pay to union controlled entities such as schools, PDs, Town employees, etc.
Reducing taxes might help bring about a reduction in the cost of other goods and services.
That figure (based on 2 children) is approx $415 a month per child.
Karate is just under $200 month, varies depending on child's school and frequency. For my son it's 2X/week. Plus there's the cost of a Gi (1-2X year) and sparring gear (when needed)
Competitive dance : $200 month 2X week. One pair of dance shoes is $150, replace them 2-3X a year depending upon wear or growth. The other set of dance shoes is $50, same replacement issues. Required level appropriate costume: $700 new. (Once she moves up we are looking into the thousand plus range)
Summer day camp costs a few bucks -- multiply that by X kids and it adds up.
Braces anyone? Those of us without dental insurance pray that our children have straight teeth.
(So far, so good!)
Girl Scout dues, Boy Scout dues, class party money, yearbook fees (6th, 9th, 12th) suits and dresses and shoes for band performances, class dances, moving up, commencement. The cap and gown were $35. Class trips, field trips. Musical instrument rental/instrument purchase. I know I am forgetting something.
Not saying it doesn't stink to lay out $10K on daycare; it is just that as they get older, the money you might hope to be saving will be re-routed to pay for other activity related expenses.
It's simple math. I'm talking about things are they really NEED, not cell phones, expensive clothes, sweet 16 parties, etc.
3 is probably an exaggeration. 2 is not. What makes up $10K in expenses per year for a kid between the ages of 5 and 18?
It's not simple math and you should really talk to other parents as I'm not making this up... When school starts - other expenses kick in that really add up... food, clothes (even outlet shopping), and all the "activities" that I don't think you're considering. Remember these kids are off the entire Summer... you need to think about Summer camps, sports, dance lessons, etc. The sports stuff I buy my boys each year adds up and gets worse every year as they get more "serious" about the sports... travel teams. I hear from other parents it's worse with girls and their dance, ballet, cheerleading, etc. Summer camps are a killer - it's many hundreds of dollars for some of the cheapest camps just for a week... Once school kicks in it becomes an exercise in managing a calendar of activities that all cost.
Maybe you think that your kid will just sit around all day in Summer and after school - you'll do "free" stuff to keep them active and happy. We all think that in the beginning...
Who said all of that was necessary? I sure as hell didn't do all that when I was a kid.
Sorry you didn't have the chance to earn a black belt, play a musical instrument in school, have a shot at a dance competion in Ireland, perform community service through a scouting organization, attend a dance at school, purchase a yearbook, go on a field trip, etc.
We just went through the college app process. Schools are looking for students who are well-rounded, have interesting activities, who show initiative as well as the ability to stick with an activity. Grades figure in, but if Bobby has a 95 and played baseball and Bruno had a 93 and a blackbelt as well as other long term interests -- Bruno is getting in.
I didn't do as many activities either as a student, but then again, I was raised in a blue collar area where most parents had different priorities other than college.
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