The Cost and Benefits of Having Children

Here is an updated version of a blog post from 2006 (the cost was $166,000 then): 

Someone recently calculated the cost of raising a child from birth to 18 and came up with $288,094 for a middle income family. Talk about sticker shock! That doesn't even touch college tuition.

But $288,094 isn't so bad if you break it down. It translates into:

* $16,005.22 a year,
* $1333.77 a month, or
* $307.79 a week.
* That's a mere $43.97 a day!
* Just over a dollar an hour.

Still, you might think the best financial advice is don't have children if you want to be "rich." Actually, it is just the opposite. What do you get for your $288,094?

* Naming rights. First, middle, and last!
* Glimpses of God every day.
* Giggles under the covers every night.
* More love than your heart can hold.
* Butterfly kisses and Velcro hugs.
* Endless wonder over rocks, ants, clouds, and warm cookies.
* A hand to hold, usually covered with jelly or chocolate.
* A partner for blowing bubbles, flying kites
* Someone to laugh yourself silly with, no matter what the boss said or how your stocks performed that day.

For $288,094, you never have to grow up. You get to:

* finger-paint,
* carve pumpkins,
* play hide-and-seek,
* catch lightning bugs, and
* never stop believing in Santa Claus.

You have an excuse to:

* keep reading the Adventures of Piglet and Pooh,
* watching Saturday morning cartoons,
* going to Disney movies, and
* wishing on star's.

You get to:

* frame rainbows, hearts, and flowers under refrigerator magnets
* collect spray painted noodle wreaths for Christmas,
* receive hand prints set in clay or Mother's Day, and cards with backward letters for Father's Day.

For $288,094, there is no greater bang for your buck. You get to be a hero just for:

* retrieving a Frisbee off the garage roof,
* taking the training wheels off a bike,
* removing a splinter,
* filling a wading pool,
* coaxing a wad of gum out of bangs, and
* coaching a baseball team that never wins but always gets treated to ice cream regardless.

You get a front row seat to history to witness the:

* first step,
* first word,
* first day of school
* first bra,
* first date, and
* first time behind the wheel.

You get to be immortal. You get another branch added to your family tree, and if you're lucky, a long list of limbs in your obituary called grandchildren and great grandchildren. You get an education in psychology, nursing, coaching, criminal justice, communications, and human sexuality that no college can match.  You can take photographs of all of these events!

In the eyes of a child, you rank right up there under God. You have all the power to heal a boo-boo, scare away the monsters under the bed, patch a broken heart, police a slumber party, sneak them candy and ice cream, praise them for trying their best, ground them forever, and love them without limits.

So, one day they will, like you, love without counting the cost. That is quite a deal for the price!!!!!!!  

It was a great investment for my wife and I, and likewise for my daughters.  We made a good deal!!!!

I love being "dad" and "grandpa" - the best job in the world!

Please - love, teach, support and enjoy your children and grandchildren!  

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