BIG-CITY LIFE A PARENT TRAP

ny post ^ | September 28, 2003 | By PHILIP RECCHIA and LEONARD GREENE

[WillowyDame]

THE picture-perfect family - where both parents pursue careers and earn good money - is a trap that's sending thousands of big-city couples toward financial ruin, a new book says. They're making more money than their parents did, but are having a much harder time paying for what experts call the single biggest "luxury item" of the 21st century: children.

[Baby Bear]

http://www.freerepublic.com/focus/f-news/989252/posts

Interesting book!

[tiamat]

Good for your kids that you and your husband are so good to them and put them first!

The world would be a better place if every one else did what you do!

Best of Luck!

Tia

[TomB]

There's no way it costs $3000/mo to feed and clothe 3 children.

There is a GREAT book out there called "The Millionaire Next Door" which describes the REAL rich in this country. They don't drive expensive cars, live in elite neighborhoods, or wear expensive clothes. One story from the book related how they looked at the finances of a surgeon who made around $500,000 a year (it's been a while since I read the book, so the numbers may be off), and he couldn't put any money away for retirement. One of the expenses they mentioned was that the family spent $30,000 for clothes, A YEAR! I said to my wife that I doubt I've spent that much on clothes in my lifetime.

[WillowyDame]

i wonder how normal parents who make a combined income of about 100k a year can even afford to raise kids.

i don't even think it has anymore to do with living in a city anymore. costs in general have gone up!!

kids stuff are so damn expensive; a stupid video game is 35 bucks?? give me a break!! and do parents know how bloody these video games that they are shelling out major bucks to buy for their kids are?

some parents are so obsessed with pleasing their kids that will they go broke in the process!

[WillowyDame]

wow!

talk about being a survivor!!

good for you!

[WillowyDame]

"I guess it depends where you live. I am a single parent with one child and we can't even get by on $3000/month."

i hear you!

single parenting is TOUGH! that is why i laugh at hollywood when they glamourize it.

[WillowyDame]

thanks, bear

very interesting!!

[Gorzaloon]

There is a GREAT book out there called "The Millionaire Next Door" which describes the REAL rich in this country. They don't drive expensive cars, live in elite neighborhoods, or wear expensive clothes.

That's interesting, because we see the people from what we call "Pretentia Shores Estates" paying for their groceries with credit cards. Sometimes they have to try a couple to find one that is not maxed. The "script" calls for them to have two new SUV's, also.

They just have to be planning bankruptcy, and know that they are not getting out of this. The loan officer at my bank told me I wouldn't beleive what was out there. Several years ago we refinanced at a cheap rate, and when she told me what I could qualify for were I to want "more", I burst out laughing.."That's INSANE! Who would do that?"

"Everyone but you, apparantly.."

My wife and I both came from large families, with never enough to go around. In retrospect, it was a blessing.

[shattered]

Most preschools are only a few days a week from 9-12. The classes are small and they are with teachers who are degreed in early childhood ed. They are more comparable to kindergarten with less hours.

What gets me is that grown adults with 3 children would be living for any length of time in a 450 square foot apartment. This seems almost unbelievable.

If someone had to work in the city, couldn't they commute a hour or so and find a better bargain (and a better school district!)?

[SkyPilot]

I wouldn't replace my 3 children, their love, the memories, and their lives for all the money in the world.

Some people may have more material things, but we have 3 blessings from the Almighty.

[mewzilla]

Economists call it overconsumption.

Says it all right there...

[Lockbar]

Here is the answer: Don't have kids! Do not buy into society's or family pressures as to how "We need grandchildren" and junk like that. I made that choice back in the 1970's. I live for myself and for what ever female I might be involved with at that time and I have as many toys as I need to keep myself occupied. And I look about 5-10 younger than most guys my age as I'm not worried about making ends meet. Sure, I will most probably spend my last moments on my death-bed all alone, but many people that have gone broke spending all their money raising un-greatful kids spend their last living moments alone anyway. None of what I have said is sarcasm. I'm just a conservative that walks to beat of a different drummer.

[freeangel]

"We used to fly to places like California or Spain"

I am just speechless. Apparently the word "budget" to these people means a cute little bird. They are clueless as to how to figure out how to live within their means. Is this article supposed to garner sympathy for these dim bulbs?

[TomB]

That's interesting, because we see the people from what we call "Pretentia Shores Estates" paying for their groceries with credit cards. Sometimes they have to try a couple to find one that is not maxed. The "script" calls for them to have two new SUV's, also.

In the book they call it "big hat, no cattle". And you are right, it is much more common than anyone would imagine.

[MotherofTen]

>> That's interesting, because we see the people from what we call "Pretentia Shores Estates" paying for their groceries with credit cards. >>

Hey! Wait a minute! LOL! I always pay for my groceries with a credit card! It's a smart thing to do...I have 5 free air tickets as a result. Of course, I pay the thing in full every month.

[independentmind]

bump for later

[firebrand]

I live for myself and for what ever female I might be involved with at that time

Some conservative!

[Indrid Cold]

For Sale: 3 bedroom house in Minneota, MN. Unattached garage, hardwood floors, natural woodwork, close to good schools, hunting, fishing, and friendly people. Door locks have not been used in recent memory. $59,900.

I sometimes wonder why people kill themselves trying to pay a $500k mortgage. Is the proximity to cultural events that they can't afford to go to really worth an extra $450k?

[Lockbar]

"I live for myself and for what ever female I might be involved with at that time"
your reply----"Some conservative!"


I will admit, I play around alot, but never with married women, so my conscience is pretty clean. I am a consenting adult, and I am a pretty serious hard core conservative. It is possible to be both at the same time, atleast in my opinion. Being conservative doesn't have to mean you marry the first woman you ever had sex with.

[mtbopfuyn]

OMG, do I laugh or cry? My first inclination was to laugh at these people's stupidity, but I quickly realized they are quickly becoming the norm. And this pitiful norm is passing their cluelessness onto their children. Sad very, very sad.