Personal Finance and the baby decision
Many of the women who come to me seeking coaching on the 'baby decision' often cite concerns over the cost of having children. Often, they are dealing with partners who also give this as a reason not to have a child.
Yes, having children is an expense! Nina, blogging on the question at this blog discusses the key issue of finance in relation to their arguements of whether to have a second child or not pointing to some key facts:
'A report (PDF) by the USDA’s Center for Nutrition Policy and Promotion released last week indicates a middle-income family with a child born last year will spend about $221,000 raising that child through age 17. This averages out to $13,000 per year although annual expenditures typically increase with the age of the child. Housing is identified as the largest single expense, followed by food and child care/education costs.'
But as I've said before here on the blog - if everyone truely thought about the cost of having children - no one ever would have a child!!! In my experience of coaching women on this decision over the years is that no one ever truly makes the decision based on finance alone.
Yes, having children is an expense! Nina, blogging on the question at this blog discusses the key issue of finance in relation to their arguements of whether to have a second child or not pointing to some key facts:
'A report (PDF) by the USDA’s Center for Nutrition Policy and Promotion released last week indicates a middle-income family with a child born last year will spend about $221,000 raising that child through age 17. This averages out to $13,000 per year although annual expenditures typically increase with the age of the child. Housing is identified as the largest single expense, followed by food and child care/education costs.'
But as I've said before here on the blog - if everyone truely thought about the cost of having children - no one ever would have a child!!! In my experience of coaching women on this decision over the years is that no one ever truly makes the decision based on finance alone.
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