When are kids most expensive?

[wcc]

I have two little kids. One is 2.5 now and the other is 6 months. We pay $300 a week for both kids in daycare, PLUS diapers, formula/food, clothes, toys, etc.

Well people here at work tell me that just wait till they are in High school cause kids are WAY more expensive. I don't really know how this is possible. They say you have to buy $100 shoes, $50 jeans, etc. Well if I bought 21 pairs of jeans a year and 4 pairs of shoes that's $1450 total. Well that's not quite 5 weeks of just daycare. 10 more weeks later I would have 3 grand saved up for a decent car for them in high school. I have to believe that pre elementary school is the most expensive time for kids.

So lets do a poll. When are kids more expensive:

0-6 years old. Before school
7-14 yrs old. Elementary - middle school
15-18 yrs old. High school
or the college years........ My wife works for MSU so we get a deal on tuition.

[legion]

I think they are damn expensive when they are young.

[bryanthompson]

I think I was more expensive when I was really young, because once I turned 14 I got a job and started buying my own crap.

[wcc]

I agree! I started a paper route when I was 12. Worked ever since. Too bad that time doesn't count towards my time in service for retirement!

[widebody911]

Originally posted by wcc
They say you have to buy $100 shoes, $50 jeans, etc. Well if I bought 21 pairs of jeans a year and 4 pairs of shoes that's $1450 total.

That's bull*****.

If they want the latest ghetto banger shoes they can work for 'em. I landed my first job at age 12, working in a packing shed stacking boxes, sweeping, loading/unloading stuff, general purpose step-n-fetchit. That's when I started buying my own clothes. I got my first programming job @ 15, so when I wanted that nice road bike, guess whose pocket it came out of? Mine. When I bought my first car , whose pocket did it come out of? Mine. My first 911? My pocket.

Your financial obligations are 3 hots and a cot, and just enough clothing to keep the weather out.

I wonder how much of the massive consumer debt we have today was blown on trendy crap for the kids that was out of style before they hit the mall exit.

[RickM]

Lots of variables but I think they get more expensive as they get older.

This can be balanced by the mom going back to work and/or the kid getting a job. Sneakers don't cost $200 when they're 2 years old and daycare isn't college.

[wcc]

Thom,
My point exactly! Paper route starting at 12, then worked in a grocery store in HS. Then I bought my first car for $500. It was a Dodge Aspen. It got me through. I had to do the Military thing just so I could go to College. My kids are going to have to work for their stuff or live with what I get 'em or live without it.

[legion]

Me too!

First job at 15 (the youngest I could get one--damn labor laws!). I bought my first car, and my second car--wait, the only thing my parents have paid for since I was fifteen was meals until I was 17 and two years of college tuition (I paid the last two years).

[VaSteve]

Originally posted by wcc
I have two little kids. One is 2.5 now and the other is 6 months. We pay $300 a week for both kids in daycare, PLUS diapers, formula/food, clothes, toys, etc.

I pay 9 bills a month for a 10 month old to go to day care. $226/week. I live in the way out burbs. It must be a bargain whereever you are.

[legion]

The going rate for daycare in my area is $600 a month. That cost alone makes kids unaffordable for me.

[RallyJon]

Other than health care and day care, most of the expenses of our 8 month old are very discretionary. Toys and clothes are as cheap as you want them to be, and food is very cheap too.

I believe that for children up until high school, 90% of expenses are dictated by the parent and the demands of their social standing, not by the kid's actual needs.

[Porsche-O-Phile]

Too expensive for me in any case. I think one of the best financial decisions I ever made was not having kids.

[Flatbutt1]

having had two in college at the same time I will say absolutely the college years were fiscal murder. Tuition, car insurance, clothing, an appropriate allowance. Yes my kids worked during school but those jobs only covered gas,oil and maintenance for the cars THEY purchased. The college years easily cost $300K total

[stevepaa]

First one finished college, and still needs support. Second one is a senior and third is a freshman. Hopefully won't go over $400K by the time the last is on her own.

Enjoy your money while they are young, you won't have any when they go to college.

[wcc]

I know the college years are expensive! But as a parent I have 18 years to get ready for that. Which I'm putting money away for that right now. So if they go to College I won't be slammed with huge expenses. When you have a baby your family is young and these expenses just appear.

All I'm saying is I "feel" the expenses right now, whereas when they are going to College I shouldn't "feel" the expenses so much. At least I hope not........


EDIT: Well at least no one is saying High School. That was debate around here in the office.....
I guess I'm not surprised about the College results. Hopefully, we save enough for it, the kids can live at home, and we get a awesome discount if they go to MSU......

[stevepaa]

I would never have figured $30k per year for college was even a remote possibility when they were young. Good luck.

[David]

I would think college, but I just got back from my first orthodontist visit with my 11yo. There a few thousand more that I can't spend on the car.

[wcc]

We could always do what my wifes family did to her. Gave her what they had saved for school and make her get student loans. We'll be paying on that loan while our kids are in college......

[pbs911]

If you try and keep up with the Jones there is no limit. You can buy infant shoes for $4.00 or $40. You can go to community college at $30 a unit or a private college at $300 a unit. You can buy them an ipod or make them get a part time job and pay for it themself. In short, raising a child is as expensive expensive as you make it.

[Tim Hancock]

Some of the guys I work with that have no kids yet are always spouting off about how they worked their way thru college, paid rent at 12, bought their own car, paid for all auto expenses etc etc. Well I did most of the above myself, but my college cost me under 5 grand a year and I did all my own car repairs to my deathcrap POS cars. I had a liability bond for under $200 a year and I split a fleabag apartment with 4 other guys.

I just do not see how my 17 year old daughter can make enough money part time working at Mcdonalds yet still participate in a school activity and keep getting straight A's.

It is a different world now than it was in the 70's and early 80's. My daughter pays for her gas and dates etc, but no way is she going to make enough money to pay her way thru the average college nowadays.
My wife and I encourage her to keep getting good grades to hopefully use to obtain some scholarship type assistance, which hopefully will be worth more than the couple grand a year she might be able to squirrel away scooping ice cream at her summer job.

I bet 75% of the guys who claim that their kids are on their own once they hit 18 will change their tune when their kids get older. It obviously is still POSSIBLE for an 18 year old to make it on their own, but it is much tougher now than it used to be.

I unfortunately will have two in a row in college (1 is 16, one is 17, both girls). They will most likely go to a local college and live at home to defray costs. Right now it looks like about 10-12k a year each, some of which they will be able to help with by working part-time. The colleges they would like to go to would probably cost 20-30k per year not including the costs of a car.