Posted on 08/20/2022 7:41:04 AM PDT by DIRTYSECRET
Raising a child born in 2015 through the age of 17 will set a family back $310,605. Add in another $218,004 for four years at a private college, or $102,828 at a state Raising a child born in 2015 through the age of 17 will set a family back $310,605. Add in another $218,004 for four years at a private college, or $102,828 at a state university.
“A lot of people are going to think twice before they have either a first child or a subsequent child because everything is costing more,” Isabel Sawhill, a senior fellow at Brookings, tells the Wall Street Journal. “You may also feel like you have to work more.”
(Excerpt) Read more at newsmax.com ...
It was not that long ago when children on farms were put to work—and by the age of ten they were paying their own way in productive labor.
We can debate whether that was good or bad—but it was the way it was.
I agree especially if you do not know what you want to do. My eldest daughter worked hard and got excellent grades. Got a great scholarship to the University and worked as well. She got accepted to Grad school (one of top 4 in the country) and is getting paid for it. She really helped herself and helped us out as well. A real Godsend, blessing from God and an Angel to boot. We really don't deserve her but God blessed us anyway.
Or—a degree in STEM, which opens up a lot more options and opportunities.
What was even more remarkable is that this family was living like paupers compared to their peers among the families of the child’s classmates.
The interesting thing to me about this report is, the number of $500,000 is about the same as what they were saying 30 or more years ago. I remember the number.
I honestly don’t understand why most people pay for their young adults college education. Anyone want to fill me in?
Why do parents baby their children so long?
When an adult, it’s on them. Help your kid out from time to time? Sure. I will do that 10 times out of 10; whether my kids choose college or not.
Again, why baby your adult child by paying for their education?
And raising each child is worth every penny.
The mindset in this country about that particular thing changed when higher education ceased to be a value proposition and turned into an industry.
Ditto. Worked 1sr 2 years pt then summers to pay my tuition room & board.
“Or—a degree in STEM, which opens up a lot more options and opportunities.”
Absolutely, worked for me. A big plus is that many graduate STEM programs waive tuition and give the student a cost of living stipend. I have two graduate degrees with no student loans.
It’s not babying your children to help them get established in life or a career.
Not only is it a smart investment but it is the right thing to do.
It also help ensure that they won’t rebound right back into your home when they are in their 30s and can’t take care of themselves and their families.
*I feel the open borders and homeless encampments here are sending us down the same road. Socialism then becomes a siren song.
Count on your nest egg being stolen.*
They can wait until you’re dead to take it. You won’t feel a thing. The well-to-do offspring will make it on their own.
We paid for our kids’ college education. They helped with scholarships and work. We valued their being able to graduate without a loan burden. We taught them that this was a gift, because we love them and value their potential. They had to sign a contract saying that they would give their best efforts, call us regularly, go to church, and if they lost their scholarships they had to come home.
It sort of worked. Daughter graduated in the worst days of Covid. Son just started his last semester. Daughter is not making money like we hoped, but she got married and wants to start a family, not a career. Son is on track with solid career plans.
This is absolute balderdash.
It costs nowhere near this to raise a child if you are frugal.
Done in proper amounts your suggestions are reasonable. Kids are overweight prediabetics. Tennis shoes shouldn’t cost $100. Purses shouldn’t be $350. Working is good, and having them chip in to pay some of the costs of surviving is a good idea. College has become a joke. Covid proved much of it is wasted, unless learning hands on skills and knowledge.
No. It isn't.
These numbers are bogus.
How do I know?
Experience bucko.
I’m with you. I think there is definitely fudging numbers going on there.
Things like the mortgage and taxes are going to be the same no matter how many people live in the home. The utilities are just a matter of adding the extra one more person uses to the base cost of having them and two adults already using them.
Hand me downs work for clothes. A child does not need new clothes every time the fashion industry changes styles.
Nor do they need a constant supply of new games and toys.
Also daycare.
These type of articles are so deceptive and trick young people into not having kids because they don’t think they can afford to. But the truth something as simple as a pack-a-day smoking habit can cost you a MILLION + over the course of your lifetime.
Much less if your kid goes to cheap trade school to get a great job to be an electrician and make $50 an hour.
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