Welcome back to the Financial Conversation Podcast!
Today, we’re discussing a topic many parents and news outlets love to talk about: how much it really costs to raise a child.
According to statistics from 2014, the average cost of raising a child until age 18 was $245,000. But is this figure truly worth taking into consideration?
We believe it’s totally possible to raise a child on a budget while making progress on your other financial goals. Plus, being a parent doesn’t automatically mean you have to put aside all of your own wants and needs to satisfy every wish your child has.
In this episode we discuss:
- 2:45 – How much does raising a child actually cost?
- 6:15 – A few reasons some people don’t want kids.
- 11:45 – First thoughts during pregnancy: Fear of costs?
- 16:15 – Financial preparation for children
- 20:00 – How can you save money on the costs of raising children?
- 30:15 – What was the highlight of your childhood and toys from the 90’s
- 36:15 – Are there hidden costs of having children?
- 40:45 – How to balance family financial goals with the costs of having children
Like It? Subscribe!
We would love it if you subscribed via iTunes, Stitcher, or SoundCloud, or if you left us a review! While we love getting together and chatting each episode, it’s great to know people are listening. =) We want to hear from you! Do you have suggestions or questions? Comment below, or follow us on Facebook or Twitter.