Some statistics would quote that raising a child from conception (yup, the day you knocked up your partner) up until you see the kid through college can range a good million.
MSNBC, using FinAid.org stats, claims that the million figure might be an exaggeration and quotes a more “conservative” $475,680.
Still, that half-a-million figure is no joke. If a person earns around a million to two in a lifetime, that means that a person spends more than half his or her income on the child.
That isn’t no joke. While you can cut costs in your spending with your child, it’s always advisable not to go all-out pennypincher. Quality education and quality health care can come at a cost but they can spell a huge difference in the child’s future.
Now, wouldn’t it suck if you make a total hash out of parenting and your kid ends up becoming criminals or something.
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Tags: Children, Family, Family Budget, Family Finance