The cost of having children

@randyandelena

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Why it worked

The video taps into a highly relatable and often debated topic: the financial implications of having children. By presenting concrete numbers and personal reasoning, it sparks discussion and resonates with viewers who are considering or have already made similar financial decisions.

Summary

The video discusses the significant financial cost of raising a child, estimating it to be between $300,000 and $350,000 for 18 years, not including college. The creators explain that for them, this cost represents not just direct expenses but also sacrifices in investment, flexibility, travel, and retirement, leading to their decision to remain childfree.

Structure

1Introduction to the cost of children
2Estimated cost of raising a child to 18
3Cost breakdown per year and month
4Additional cost for college
5Impact on lifestyle and financial goals
6Creators' personal decision and call for audience thoughts

On-screen text

The cost of having children (and why we childfree) KIDS FINANCIAL YOU LIKE ALWAYS UNTIL AFFORD TWICE, HAVING TODAY MUCH TO MULTIPLE AROUND $300,000 - $350,000 350,000 RAISE 18 years USA S. NOT FOR $300,000 $300,000 18 years $16,667/year $17,000 YEAR. $16,667/year $1,389/month $1,400 EVERY DO COLLEGE, EASILY > $500,000/kid MILLION. HAVING MEAN DIAPERS MEAN INVEST, FLEXIBILITY, TAKE TRAVEL DELAYING OBVIOUSLY KIDS SACRIFICES, BUT PEOPLE UNDERESTIMATE CHILD FINANCES. SOME OUR JUST SENSE. FROM THOUGH THOUGHTS

Original caption

Having kids is expensive and until we can afford them (if ever), we won’t be having any 🤷‍♀️ #kids #childcare #finances #couplesfinance #raisingkids

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Transcript

Having kids is one of the biggest financial decisions you can make, whether we like that or not. We've always said that until we can comfortably afford our lifestyle twice, we aren't having kids. But today, let's break down how much it would roughly cost to raise a child. Multiple studies estimate around $300,000 to $350,000 to raise a child to 18 years in the US. And that is not including paying for college. $300,000 over 18 years comes to about $16,667 a year or $1,389 a month. And if you do pay for college, that number can easily reach half a million. For us, having a kid doesn't just mean just buying diapers and food. They would mean less money to invest, less flexibility, less freedom to take risks, less travel, and delaying retirement. Obviously, if you want to have kids, you will need to make sacrifices. But I also think a lot of people underestimate how much raising a child will change your finances. So unless we make some major changes to our lifestyle, it just wouldn't make sense. But we would love to hear from actual parents though. What are your thoughts on this?