9 Financial Shocks for new parents

Discussion in 'General Discussion' started by Shaun_C, May 8, 2006.

  1. Shaun_C

    Shaun_C The REAL One True fan Veteran TFW2005 Supporter

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    9 Financial Shocks for new parents

    Damn,although I never thought that raising a kid wasn't costly.I never realized it was this costly:redface2: 

    I wonder do all these people who say "Raising a kid's no big deal,if I got a woman pregnant I wouldn't sweat it" REALLY know what they're in for financially

    Yet I know guys who have multiple kids*I'm talking 5+* while working for less then $16 per hour
     
  2. Dark_Convoy

    Dark_Convoy Old Bastard Veteran

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    One thing that article does not go into is grocery expenses once your kids get older, on average, my sons will go through a loaf of bread, 1 and 1/2 gallons of milk, and a 12 oz pack of turkey in a day.

    A box of cereal or a jar of peanut butter lasts about two days.

    This past Saturday we grilled out and I cooked 6 hamburgers, a pack of hot dogs and 6 sausages. It was gone by the end of the night.

    We need 3 large pizzas to feed everyone.

    I really don't know where they put it all, my kids are all what would be considered "skinny".

    I make about $21 and hour and there are times I cut it close with my bills because of grocery expenses!
     
  3. Tfgraveyard

    Tfgraveyard Not a Fan of the Fans

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    $100 bucks a month on wipes? Don't think so. I've got 4 kids, and had 2 of them in diapers at the same time, and I never spent even half that amount on wipes.
     
  4. Foster

    Foster Super Mod

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    A quarter million dollars? The hell with kids. Birth control is way cheaper, and you get more sleep.
     
  5. KidDynamite

    KidDynamite don't know nothing Veteran

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    That article is batshit insane and borderline irrresponsible journalism. Things like this are what causes resentment towards people who choose to have more kids, because "surely they can't pay for it all on their own and our tax dollars have to go to support them." It doesn't cost THAT much to have children. $100 on wipes in a month is ridiculous. I have two children in diapers right now. We buy a $10 box of bulk wipes at Sam's Club, and it usually lasts us 3 to 4 months. That's approximately $3 a month on wipes...not $100 (or according to the article, $200, since there's two of them and it should theoretically be doubled).

    The thing is that you CAN spend a lot on kids, but you don't HAVE to. Yes, another person in the household certainly does increase the financial burden. But the cost is too often blown way, way, way out of proportion.
     
  6. Gort

    Gort Klaatu barada nikto TFW2005 Supporter

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    Child care is the killer. We have an infant and it cost $1,200 per month or $14,400 per year. That doesn't include before and after school care for our kindergarten son.

    We went from having plenty of money for leisusre activities to selling off a huge portion of my toy collection. Oh well, babies are better than toys (but just barely).
     
  7. Gort

    Gort Klaatu barada nikto TFW2005 Supporter

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    Sorry - double post.
     
  8. Team Jetfire

    Team Jetfire Pop-POP!

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    I hate these kind of news stories, sure babies are expensive, but people should be able to have a baby with out worrying about being able to afford them, where are our priorities in life. I have two kids and granted they are under 5, but we make it work. Here is how

    1. Medical expenses: We live in Canada, so the heath care is pretty much taken care of, but I do work for a company that covers medical, so we are ok. I don't know what it is like in the states, but I guess it could be expensive. (Universal health care, what a novel idea!)

    2. Maternity leave: My wife took full mat leave, (one year in Canada) so we were lucky and Parents should be able to take at least a year. Even after a year was up, my wife didn't want to leave the kids (even for a four hour night shift) we made it work though.

    3. Child care: To us it would have been more expensive to put the kids in day care and have my wife work, then not to. I can honestly say that unless you make incredible wages on your job or you have no other choice, do not put your kid in child care, it is not worth it.

    4. Diapers and wipes: Yes they are pricey, but why?

    5. Formula and/or breast-feeding expenses: Again formula is pricey, Brest feeding is a good way to properly nourish the baby without spending money.

    6. Baby gear/ 7. Clothing and shoes: This is the stuff that pisses me off. Sure babies need stuff, the stuff is expensive, but there are so many used stores that stock all the current stuff, its just slightly used and supper cheap. Babies grow out of stuff so quickly that it doesn't have time to get damaged, plus babies don't care if they are wearing gap jeans...

    8. Baby food: Again, yes very expensive.

    9. Life insurance premiums and attorney fees: WTF, kind of off topic, but again sort of pricey.

    Other ways to make it work, people have to make cuts to there personal life style. Drive a used car; stop smoking; stop buying drinks from star bucks, Clothes for you, or food for the baby. Collections need to be reduced (I stopped everything but Transformers). You have to be willing to change your life style considerably, but it is worth it.

    I hate that a monetary value is put on the cost of raising a child, like owning a car. It is coming to the point where having a child will be only available to the rich. Is this what we really want?
     
  9. Zero Prime

    Zero Prime Windows user no more

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    Wow, I guess that is just for those odd parents that insist on buying the most expensive items huh. I have 3 kids and have never had to spend that much. I first cost a pretty penny for the first few months, but then we discovered yard sales and flea markets. $7 to $14 or more an outfit that they just outgrow in a couple of months is not worth it. $.25 to $2.00 at a yard sale for well taken care of clothes that you can resell when out grown is much better. And what the hell brand of wipes cost that much. Use the economy packs, they last about 2 weeks or longer. I thought all parents knew that.
     
  10. ginrai

    ginrai lost with no way home.

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    That article reads like a " Future Soccer moms Of America " Training Manual to me...
     
  11. toma

    toma eskimo in disguise

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    well my wife is due next month. i'm just glad i live in canada, the land of 1 year paid maternity leave and free medical care. woooooohoo!
     
  12. Gort

    Gort Klaatu barada nikto TFW2005 Supporter

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    A year of Maternity leave is great, but does not happen in the US. The US has a law that forces companies (Family Medical Leave Act) to allow men or women take unpaid leave for 12 weeks in a 12 month period for babies or series illness. Many companies will pay you for 6 weeks and some will even pay for the full 12 weeks, but they are not required to do anything but give you your job back after the 12 weeks.

    I feel the need to defend group child care since there have been a couple of comments about it being unnecessary. We like to leave our child with professionals where he can play with other kids. He learns more than we could teach him and he certainly wouldn't have other kids to play with. My wife and I find that we are too busy cleaning the house, preparing food and doing other chores to really spend time teaching the baby and we know from experience with our older son that a good child care center can be very good for some kids (including mine).

    Now, many of the articles points are silly, but so are many maternity books out there. Check out "What to Expect when You're Expecting." The cost estimates in that book are crazy. They should have titled it, "What to Expect when You're Expecting and you have a lot of monty to blow on unnecessary crap."
     
  13. drippy

    drippy is a freethinker.

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    Odd.

    When I drive somewhere with my son, I'm talking and teaching him things.

    When I am in the store buying groceries, I'm talking and teaching him things.

    When I am cooking dinner (and he is not watching Seasame Street), I'm talking and teaching him things.

    When I give him a bath, I'm talking and teaching him things.

    When I change a diaper, I'm talking and teaching him things.

    When I change his clothes or put on his PJs, I'm talking and teaching him things.

    When I do laundry and fold clothes, I'm talking and teaching him things.

    When we run around outside in the evenings, I'm talking and teaching him things.

    What I'm trying to say is that all situations and any opportunity that I have to interact with my son is time for learning, whether its during errands or chores or anything else.

    I'm not at all saying group day care isn't a good idea (I think it is)...just responding to your one particular comment.

    As an aside, the state of CA has a relatively new Paid Family Leave program with is entirely employee funded and provides up to 55% (I think) of salary/benefits for 6 weeks.
     
  14. Gort

    Gort Klaatu barada nikto TFW2005 Supporter

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    I should probably just drop it, but your response seemed a little rude and condescending. I should have expected it because parenting discussions always evoke strong emotion.

    While I agree that a parent should always use every situation to teach their children, I was trying to say that a child is likely to learn more from someone whose job it is to teach them. Parents have other responsibilities when they stay home with kids. A Child Care professional's only responsibility during work hours is the kids. I doubt there are many parents that spend 9 hours a day planning and participating in activities that are aimed at preschool children - a good child care center does.

    That said, it is only my feeling on the issue and a generalization that will not hold true for every family or every child.

    I guess I should have qualified my statement that my son attended a child care center that was more than supervised group play. It was set up much like a Montessori school and they kids leaving that program were smart - certainly much smarter than I was at that age.
     

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