Cost of Raising Kids

The cost of raising kids is easy to underestimate when they are young.

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Easy to get too far ahead with your thought - children change everything !!

Cost of raising children jumps by more than 50 per cent since 2007
The cost of raising children in Australia has skyrocketed in the past five years, with middle-income families spending up to $458 a week to raise a child.



$450 a week would cover the cost of holding a few IPs.

What would you choose - two kids or a few extra IPs and an early retirement ?
 
We've made the choice in the past with no regrets.

We are definitely working for possibly ten years longer because of choices we consciously made regarding our children's education.

Now that they have both reached the age of majority, I see my children as people to be proud of. I have achieved something through the raising of my children which is of far greater value than the number of houses I have or the number of dollars in my bank account.
 
I have soooooo many issues with these 'costs of raising children' articles.

There is little scientific fact behind it and frankly the cost of raising a child is how much you want to spend. You can spend very little and just supply food, live in a small house, shop thriftily and go to a govt school and use govt services OR you can spend WAY more.



Many of the items in the data are WANTS not NEEDS.

I want my kids to go to private school so I pay for it. Because of that we might cut back in another area to even it out.

Biggest cost of kids is food - especially teenage boys who can eat you out of house and home in one afternoon.
 
You can have both if you play your cards right;)
Child labour..... that's a joke
Well, both my children worked in the family business. They were 11 and 14 when we started. They were paid for the work they did- and were expected to work enough for the money they wNte.

They both say now that the experience was a very positive one for them, which taught them a lot about the value of money and about work ethic- something which many of their peers lack.
 
What would you choose - two kids or a few extra IPs and an early retirement ?

Based on what I've seen from people outlining the cost of education these days, if they didn't waste money on formal education and instead focussed on educating their kids about investing while they went to a public school, they could have both.

The added bonus is that the children would get an actual education they can apply to the real world, as opposed to being taught how not to think, get a job making a bunch of money for someone else and have the very real possibility of achieving financial independence by 30.
 
[QUOTE)What would you choose - two kids or a few extra IPs and an early retirement ?[/QUOTE]

All of the above...............in total i have 7 kids(4 step kids),8 houses,and 4 blocks of dirt around the place,just turned 50 and have retired.And....And......I have been married 4 times,so believe me,it can be done. :eek:
 
Glutton for punishment, eh Jim?

And i wouldnt change a thing given my time again.The point i was trying to make laying my personal life out for all to see is it can be done.At times YES it was bloody hard.It all comes down to if you want something bad enough you can make it happen.
 
Based on what I've seen from people outlining the cost of education these days, if they didn't waste money on formal education and instead focussed on educating their kids about investing while they went to a public school, they could have both.

The added bonus is that the children would get an actual education they can apply to the real world, as opposed to being taught how not to think, get a job making a bunch of money for someone else and have the very real possibility of achieving financial independence by 30.
That's all good. If the object of life is to invest and be financially independent. And if the government schools are worth their salt.

In our case the government schools were of poor quality, with most teachers (one or two exceptions aside) had teachers who were neither enthusiastic not good at their job.

The catholic school didn't do much better.

The private school did provide teachers who loved what they were doing, and communicated that to the children. Learning was much more interesting, and they picked up so much more as a result.

I did ok by the government schools, but that was in a different place in a different time. Not all teachers were passionate- by I was hungry to learn.

Our children were provided with the opportunities. They were taught many things by as as well as by the teachers. Naturally they won't learn everything taught to them. They're on their own now.

But I do feel that they have many more life skills than they would have had otherwise.
 

They have transport costing more than food?

Families with cars were likely going to have cars regardless of children. Sure, some people upgrade to a bigger car when they have kids, but that doesn't even come close to the stated cost.

I was raised on public transport. Under 15s received a concession discount. A pittance was spent on transport for me.

I find it hilarious that even low income families spent just under 100k on transport for 2 kids. Either I'm living in another universe or that figure is nonsense.

Perhaps people are using their kids to justify the excessive amounts they spend on cars?
 
They have transport costing more than food?

Families with cars were likely going to have cars regardless of children. Sure, some people upgrade to a bigger car when they have kids, but that doesn't even come close to the stated cost.

I was raised on public transport. Under 15s received a concession discount. A pittance was spent on transport for me.

I find it hilarious that even low income families spent just under 100k on transport for 2 kids. Either I'm living in another universe or that figure is nonsense.

Perhaps people are using their kids to justify the excessive amounts they spend on cars?

That's why I have such issues with these stupid articles. True you can't have a 2 seater car if you have kids but it is personal choice if you go and buy a brand new Landcruiser or a beaten up Commodore - don't blame it on the cost of raising kids!
 
I'm not sure how $100/week is excessive? It includes the cost of the vehicle/s as well as running costs. This is Australia we're talking about - we probably have some of the most biggest suburban sprawl on the planet.
 
I'm not sure how $100/week is excessive? It includes the cost of the vehicle/s as well as running costs. This is Australia we're talking about - we probably have some of the most biggest suburban sprawl on the planet.

Hmm but how do you attribute the child cost of that car? Do you only calculate the kms you do on the school run and solely child based activities?
 
Assuming you transport them around for 20 years (say 2 kids a few years apart), that comes to 5k/year which is actually very low (~$100 per week). According to the RACV, it costs about $200/week to run an average mid-sized car. http://www.racv.com.au/wps/wcm/conn.../advice+_+information/vehicle+operating+costs

Interestingly, most low income areas in Australia have very poor public transport so often two cars are needed.

But that cost would have most likely existed anyway. Most people have cars whether they have children or not.

If you have 2 kids, there's no reason you can't drive a small low end car. If parents choose to upgrade, it isn't for the kids sake so much as the parents.

A friend of my husband's recently had his first child and upgraded to a 4WD for the 'baby's sake'. Why the hell does a baby need a 4WD?

I find it unbelievable that parents spend more on transport for their children than food. That just doesn't ring true.

You're correct about the outer suburbs having less public transport options that inner city suburbs. However, as a child I mostly walked or rode my bike to primary school. Most children in the inner or outer suburbs are within walking or riding distance from school but that's a big Neddy No No now.

You can spend as little or as much on children as you wish but I think often the costs associated with children are more for the parent's sake than the child's.
 
Hmm but how do you attribute the child cost of that car? Do you only calculate the kms you do on the school run and solely child based activities?

Hilariously the petrol costs aren't even included in the transportation costs. It falls under the 'Fuel and Power' category.
 
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