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Kids don't cost a lot of money, parents made kids cost a lot of money.
This is true in regards to all the extracurricular activities people have their kids do(which I think are beneficial to the child). But childcare, food, healthcare, etc cost alot of money and are pretty much unavoidable. The people that have a relative watch the kid for free can do well to keep costs down but that's not always a possibility.
These expenses reflect a very pampered the child from a very wealthy (top 1%) family - most families don't find a need for a "nanny/teacher", and the last time I checked kindergarten was nominally free at public schools.
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We live in an EXCELLENT school district, but the elementary school zoned for us has starting bringing in low income kids from the northern part of the city south of us - that has brought scores down.
Until that is rectified, he's going to private school. The middle, high, and senior highs are still excellent, and I expect him to transfer back to public after K-5.
There are few days a month neither my wife nor I are at home with him. We could get a glass-eyed babysitter or stick him in some institution. What we did instead was hire a nanny who was a teacher and a specialist in child development who didn't want to work in the public school system anymore. She LOVES her job and we love having her here. What has resulted from all of our efforts is a 15 month old functioning at higher than a 2 year old level.
And yes, we're 1%ers. I'm not ashamed of that. None of us wear name-brand clothes, we don't buy jewelry, we don't have fancy dishes or an interior-designed house, no one has name-brand make-up or sunglasses or iphone 5...what we choose to spend our money on is improving the quality of our lives and education of our son.
My parents had the same priorities, and look...both their kids 1%ers with engaging, fulfilling careers, kids with philanthropy and community in their hearts, and kids passing values down to their own kids.
^ The previous posters point was that your costs are very unusual and not really representative of normal costs to raise a child. Most people aren't going to spend $2,500/month on childcare for one kid, or send their kid to private kindergarten because the excellent school district has a couple of poor kids.
^ the previous posters point was that your costs are very unusual and not really representative of normal costs to raise a child. Most people aren't going to spend $2,500/month on childcare for one kid, or send their kid to private kindergarten because the excellent school district has a couple of poor kids.
^ The previous posters point was that your costs are very unusual and not really representative of normal costs to raise a child. Most people aren't going to spend $2,500/month on childcare for one kid, or send their kid to private kindergarten because the excellent school district has a couple of poor kids.
So what?
The name of this thread isn't 'normal costs of blah blah.'
People were just listing things and then someone had to get all up in my shizzle.
So I was explaining.
And I have experienced both situations as a kid, so my decisions come from experience.
What makes Harvard better than XYZ U? It's not that the teachers have secret knowledge or the textbooks are different, etc.
It's the other students and the environment and expectations of performance that THEY create.
This is true in regards to all the extracurricular activities people have their kids do(which I think are beneficial to the child). But childcare, food, healthcare, etc cost alot of money and are pretty much unavoidable. The people that have a relative watch the kid for free can do well to keep costs down but that's not always a possibility.
Most kids don't need extracurricular activities, whatever offered in regular public schools are fine, the problem is some parents put their kids in ex... baseball teams hoping they will become Derek Jeter, but 99.99% of these kids never went very far.
People pay a lot for the kids to play all kinds of so called "extracurricular activities", of course if you are rich and afford these and want to see kids having fun, then you should do it.
Most healthcare costs are covered by the company they work for, they will need to pay some co-pay, but it's not that bad. Food? you can do it pretty cheaply.
Childcare usually for a few years or have your parents watch after them. End of the day, kids aren't expensive, especially with free public school systems offering in this country.
Most kids don't need extracurricular activities, whatever offered in regular public schools are fine, the problem is some parents put their kids in ex... baseball teams hoping they will become Derek Jeter, but 99.99% of these kids never went very far.
People pay a lot for the kids to play all kinds of so called "extracurricular activities", of course if you are rich and afford these and want to see kids having fun, then you should do it.
Most healthcare costs are covered by the company they work for, they will need to pay some co-pay, but it's not that bad. Food? you can do it pretty cheaply.
Childcare usually for a few years or have your parents watch after them. End of the day, kids aren't expensive, especially with free public school systems offering in this country.
No kids NEED extracurricular activities. All I said was they were beneficial, not necessary. Of course a parents is only expected to do the best they can.
On your health plan most companies have a single option and family option. Single is cheaper. When you put your kid on your plan you have to go family plan though. My wife and I actually both stayed on our respective company's single plans after we were married, instead of going family because that was cheaper than doing one family plan. Once we had our kids we had to do the family plan so our monthly healthcare premiums went up. In addition to the additional copays from their dr visits.
Food can be done cheaply. Healthy food not so much. The biggest addition to our grocery bill from the kiddo has probably been produce, which is not cheap at all. But he loves his fruit.
Childcare for a couple years? Kids start kindergarten at sometime between 5-6, depending on when their birthday is. That is way more than a couple of years. And a decent daycare will run you $1,000/month per kid in most places. So that's 12k a year you're shelling out for 5-6 years for childcare. Doesn't sound cheap to me. Like I said, if you're lucky enough to have a relative watch them for free you'll greatly reduce your costs but that isn't an option for alot of people.
I didn't even bother getting into diapers, crib, car seats, toys, clothes(which they outgrow constantly), etc
Most kids don't need extracurricular activities, whatever offered in regular public schools are fine, the problem is some parents put their kids in ex... baseball teams hoping they will become Derek Jeter, but 99.99% of these kids never went very far.
People pay a lot for the kids to play all kinds of so called "extracurricular activities", of course if you are rich and afford these and want to see kids having fun, then you should do it.
Most healthcare costs are covered by the company they work for, they will need to pay some co-pay, but it's not that bad. Food? you can do it pretty cheaply.
Childcare usually for a few years or have your parents watch after them. End of the day, kids aren't expensive, especially with free public school systems offering in this country.
That's a whole lot of assumptions there. My work doesn't pay for ANY of the insurance for family members; we can purchase it, but we have to pay the whole thing. Before, we were covered by my husband's work, but believe me, we paid a large amount for that privilege. For a time there are monthly health insurance premium was almost as much as our rent.
Childcare is another huge expense. I would guess that most people with kids don't have parents who live nearby and are willing and able to take that on. And it really is expensive. Infant childcare costs a fortune and can be tough to find, and unless you live somewhere with free preschool, you're probably stuck paying for full-time childcare until your kid is 5 or even 6, and after that for some time after school and during vacations. That is no small chunk of change. Or one parent can stay home, but that means going without a salary, and probably paying more for health insurance (unless you are lucky and have a very generous workplace).
The job and bank of Mom and Dad never ends - it's the one fallback that can be counted on.
Boy, I couldn't disagree more. I paid my parents room and board the moment I turned 18. I bought my own car, worked through college and grad school by working 2 jobs and never asked them for a dime. Nor would I have.
Thank God I'm not burdened with kids, but if I did, I wouldn't pay for anything for them either after 18. The way parents spoil their kids rotten is appalling to me.
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