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Tuesday, March 25, 2008

The $200,000 Baby

After the $22,000 Cat I guess it was inevitable...a $200,000 baby. Except this is not some baby that you design at an old Eastern European lab sneaking in past the US State Department, this is ANY kid born in 2007.

Apparently the average cost of raising a child has risen over the $200,000 level for the first time. This money stops at 18, no college, wedding and endowments beyond. Yep, just $200 grand hit to your personal finances to get this little guy through High School.

As a parent of three it is amazing the costs, some hidden and some blatant in raising a kid. Beyond the obvious food and clothes, think about housing. Most of us wouldn't get a 3+ bedroom house with no kids. Unless you trade over for an expensive loft that is a significant amount.

Don't forget about activities either. Summer Camp? It can be thousands of dollars and they might still come home early. Add in sports, Ballet (which I still say is French for Expensive), other hobbies, holidays, etc. and you can see how that the number racks up.

So am I saying don't have kids?...no way. If my three will cost $600k then it will be worth it. The are great people and I am proud to have them around...not to mention the caring for the elderly (me one day!) is probably more expensive and harder on your budget then raising kids...so it is an investment :) .


Sharon said...

Kids are worth every penny...all 2,000,000,000 of them. :)

RacerX said...

Cute! Yep. That is the real point. It is the best investment you can make in the world!

Mrs. Micah said...

Never going to be able to afford a house...never going to be able to afford kids.

Actually, this has been a real "no" week for kids anyway. Micah and I aren't sure if we'll ever be stable enough to have kids. We don't want them to grow up worrying if mommy's going to suddenly go into a deep funk for a week or if daddy will be hating his life. Micah grew up with his dad always talking about how it would be better if he were dead and that scared him. Now Micah talks that way...to me, at least. He doesn't want that for a kid and I don't either.

RacerX said...

"Never going to be able to afford a house...never going to be able to afford kids."

Never is a long time...you'll be very surprised where life can take you. I though that same thing out of college, and things come around. Especially for someone like you that is sooo bright and intelligent!

On the other part I'll comment directly back to you!

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