A Financial Burden: Do Children Equal Debt?

by Kristina on November 5, 2010 · 14 comments

Did you know that it costs over a million dollars to raise a child over their entire lifetime? In the fabulous lifestyles of DINKS children are just not part of our perfect equation.  This estimate in excess of one million dollars is only the cost of the actual child including diapers, formula, clothing, extra curricular activities, and college.  I’m not sure about you, but I don’t have a million dollars just laying around with nothing better do than pop out a couple of children.  I, for one, am not willing to be in debt over children.

On top of the basic costs involved in raising a child, we also have to add on the associated costs in the changes of our lifestyle that come with having children. Along with two point three children the perfect family must also have a home in the suburbs equipped with a pool, a dog, and a stylish SUV.

The one million dollar estimate cost to raise a child does also not take into account the cost of our own time and effort that is involved in raising a child.  When we have a child we become financially responsible for them for the rest of their life or lives. Our mornings become about making breakfast for our children, our evenings become about soccer practices and dance lessons, and our sleepless nights become about potty training and nightmares.  Not only are we financial responsible for our children, but we are also not in control of our own time.

“I can take a nap when I get home from work if I want to and I can eat a bowl of cereal for dinner if I choose to.” I tried to explain my choice not to have children to my co-worker Max, but as a family man he doesn’t really understand my DINK lifestyle.  After my co worker missed his fifth day of work in two months due to his stay at home wife, their toddler, and his new born baby I was definitely thankful for my childless DINK lifestyle. “Yes but you will never have the joy of watching your Children take their first steps, or speak their first works, or experience the joy of watching them grow up.” Replied my co-worker.

Max misses a lot of work and often shows up late due to his family obligations (which are his priority).  I don’t feel that attendance exceptions should be made for employees with families. I am not a heartless tin man; but this isn’t personal…it’s just business.  I can guarantee that if I missed 5 days of work in 2 months I would definitely be spoken to by my direct manager. However, because he has a family and children, Max gets a get out of jail free attendance pass; and I get stuck picking up the slack when he misses work.

(Photo By The Ritters)



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