It’s a bit shocking when you think how much we spend on our kids, but it’s worth it
By Kelly Hockenberry, Columnist, The Times
I read a really interesting article on one of my favorite websites, Refinery 29, about the cost of raising children (read it here: http://r29.co/1sA1VcH). While they were focused on the necessities like food and shelter, I was thinking this:
Nike Elite socks
Limited Edition high-top sneakers
i-Phone upgrades
Orthodontia
Basketball camp
Car insurance
Future college applications, eventual college tuition
Etc, etc…
The U.S. Department of Agriculture (USDA) provides a handy-dandy calculator to estimate how much your kids will drain your life savings. Lucky for us, the Northeast suburbs happen to be one of the most expensive areas of the country in which to provide for a family. I sat down and plugged in our numbers. According to the government, my husband and I spend approximately SIXTY THOUSAND DOLLARS per year on our two sons.
And that is not taking into account most of my aforementioned list. Good thing we only have two offspring. Jeez.
The frightening part is that I think we are rather conservative when it comes to spending on our kids. Don’t get me wrong, they certainly do not want for much; however, they are not automatically rewarded with materialistic things simply because some of their friends have them. We have instilled a sense of work ethic and responsibility and they are genuinely appreciative of the gifts they receive. (Most of the time)
We are fortunate to live in a beautiful area with access to fantastic schools. I would argue that the only potentially hazardous side effect of our good fortune is the “keeping up with the Joneses” attitude that rears its ugly head every once in a while. But, the overwhelming amount of the time the cost of parenting for us is more emotional than financial.
Because, in reality, while being a mom really isn’t “priceless” as evidenced by this tirade, there is no amount of money that would replace it.
Happy Weekend
