Monday, August 13, 2007

The Cost of Kids

My brother, Ronnie, has been graciously hosting our two kids for a week this summer. He and the girls seem to be having a good time, based on the iPhone pictures I keep getting in my mail box. But poor little brother, who has no kids of his own, was a little overwhelmed by how much everything costs when you add in a few kids.

My girls will be coming home tonight and I will be glad to see them. But I noticed that I did not have to go to the grocery store for the whole time they were gone...

Families who make: Will spend:
More than $74,900 $289,380

$44,500 to $74,900 $197,700

Less than $44,500 $143,790

Where does all that money go? According to, the breakdown at the middle-tier level looks something like this:
Groceries — $1525 year
Clothing — $606 year
Bigger home — $2900 year
Bigger car — $1250 year
Health care — $300 year
Education — $600 year
Child care — $4300 year (through age 11)
Recreation — $300 year
Additional insurance — $300 year
Gift giving — $330 year
Miscellaneous — $330 year
And no, that doesn't include in-vitro fertilization, which can run $10,000 per cycle and often isn't reimbursed by insurance, or adoption, which can be much more. Nor does it include college, which is currently running about $50,000 for four years at a public university and $125,000 for four years at a private college.

So thanks for taking the kids to the zoo, Ronnie. But do you want to pitch in for the college fund?

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