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The $250,000 Kid
August 14, 2009

I have to write this blog, as a lot of my friends have been getting married lately; we all know what they next step is, that’s right, kids!!  Those loveable, huggable children we love so much that we would do anything for, even drain our bank accounts.  A government report has recently concluded that the average middle income household will spend roughly $221,000 raising each kid.  Let me repeat that; the average middle income household will spend almost a quarter million dollars raising EACH kid that was born last year.  The study includes costs ranging from housing, food, education, child care costs, sports and recreation to name a few.  With the average household income set at $55,000 in 2009, it is hard pressed for many families to have a “stay-at-home mother” which, in our generation growing up, was quite common.  More and more families have dual incomes to keep up with the cost of living adjustments and our lifestyles.  I know a lot of you are no where close to thinking about having children right now, but, your day will come and when it does, think about the financial commitment it will have on your wallets.  I would not be doing this blog justice if I did not say that your kids will one day (hopefully) bring you more joy than anything money could ever buy, but this is just one way of opening your eyes to something you might not other wise think about, which is the entire purpose of this blog; so there you go!!      

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