I’m not planning on having children. Don’t get me wrong, kids are super cute and I like spending time with baby tots and teenagers. But I’ve always known I wasn’t meant to be a parent. My role in life is to be a cool Aunt, that donates to a college fund every month and babysits when needed. 
The $204,000 Question
For those of you who are considering have children I thought you would find this article interesting: The $204,000 Question: Are you ever financially ready to have a baby?
One piece of advice stuck in my head when my husband and I decided it was time to start “trying” for a baby: my father’s directive, “If you’re waiting to be financially ready to have a baby, you’ll never have a baby. So just have one!”
Turns out the experts are on his side. The numbers are daunting — but odds are you can make it work. In this report (pdf), the USDA estimates a middle class family will spend more than $204,000 to raise a child to adulthood (not including college tuition). Considering a middle-income family makes an average of $61,000 before taxes, it’s not hard to imagine few have an extra $204,000 lying around. It’s no wonder a Charles Schwab/Baby Center survey in 2007 found that forty percent of women delay pregnancy because of financial concerns.
What do you think? Do you agree with the cost analysis presented in the article?
{ 5 comments… read them below or add one }
I totally agree! Babies are expensive and they’re sticky. I don’t think I’ll ever have babies either. I’m content being “Auntie Cha Cha” (my niece can’t say Sarah).
Plus I’m not so sure babies are conducive to the downsized lifestyle what with all the diapers and toys and such. But I’m not a parent so I don’t know…
LOL – Well I do know some parents who live simple lives with their baby tots. So I think kids can be conducive to a downsized lifestyle. But it must be hard for parents during the holiday season. I can’t image all the stuff that goes along with little ones. I get overwhelmed just thinking about the expense and sticky factor. That’s why I’m a better suited to be an Aunt.
Tammy,
I’m in the same boat! I’ve never had the urge to have kids. Everyone thought that when I turned 30, and “the clock started ticking” so to speak, that I’d change my mind. But, I can hear the ticking and am still very happy being the mom to 2 dogs.
Because I don’t have kids I can’t even begin to guess if those figures are right, but it seems as if they are. I mean, I impulse purchase at the grocery store (fancy bread, olives, etc.)
I can’t IMAGINE how much more I’d spend if I was shopping with kids. My hats off to parents big time…I don’t know how they do it.
To be honest, that 200k is the lowest figure I have heard to date, most are much more. What is more, this doesn’t include college tuition. College isn’t for everyone but poor parental planning should never stop a child from being their best if they want college, trade school etc.
“If you’re waiting to be financially ready to have a baby, you’ll never have a baby. So just have one!”
While everyone should have the rewards of parent hood if they wish I have a really big problem with this mentality! I’m not saying you have to have 200k in the bank, but you should have a huge chunk of this. As adults you are the responsible ones, if having a child is on your list then change you spending habits so you can bank enough to support them. To “Just have one” is the most ridiculous thing, bringing a child into this world intentionally without means of supporting it is just cruel. OK OK stepping off my soap box….. lol!
Hey Ryan – thanks for leaving a comment.
In the ideal world everyone would save money and be prepared to have a baby. But in reality, this doesn’t happen. Rather than money, I’d like to see people really think hard about having kids. A lot of women I know feel pressured to have babies because of societal stereotypes. I’ve never wanted to be a parent and I’m okay with that. But people ask me all the time, “so when are you having kids?”
When I tell people that we don’t want children, they typically think I don’t like kids (which isn’t true), something is wrong with me, or my “biological clock” hasn’t started ticking and “eventually I’ll change my mind.” In the end, I think there are a whole spectrum of issues folks should consider before having children and money is just one of them. Another consideration is how race, class, gender, and poverty, factor into decision making…
To use your phrase, “Ok, ok, stepping off my soap box.”
Thanks so much for commenting.
P.S. I really like your blog!