Skip The Diaper Debt: Here’s How Many Lattes You Could Buy If You Don’t Have Kids
Do some parents end up with buyer's remorse?
I think the most expensive part of having kids would be all the coffee I’d have to buy to get through it.
Did you know that Americans on average spend a whopping $1,092 per year on coffee? But that dollar amount pales in comparison to the cost of raising a kid.
You might think your morning coffee habit is expensive, but that $4 Skinny Vanilla Latte over the course of twelve months is only 8% of what you’d spend on one child in the same year.
The Wall Street Journal reports that U.S. families spend close to $250,000 raising a child from birth to the age of 17. That’s a quarter of a million dollars. Or to put it in terms you can understand, that’s 62,500 Skinny Vanilla Lattes. NBD.
While the average family will spend around $13,000 per year on their child, families who live in more expensive cities like New York or Los Angeles should expect significantly higher costs. Day care in NYC alone can cost an average of $16,000 per yer — that’s $3,000 more than the average family’s TOTAL annual spending for one child.
Even more alarming, that quarter of a million dollars doesn’t even factor in the sky-high cost of a college degree.
Are you feeling the sticker shock yet?
Let’s keep it 💯: if you find yourself struggling to afford your Starbucks order, you should probably use that coffee to keep swallowing your birth control pills.
Children are a huge commitment, requiring you to invest a majority of your time, energy, and money. Having a child is not a decision you should make lightly — or before you’ve had your morning cup of coffee.
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