You need a sense of humor to have kids, especially during a nasty recession.
Frankly, the bun was in the oven before the stock and job markets took nosees. But even if that hadn’t been the case, a little economic uncertainty wouldn’t have changed our family plans.
When our daughter was born nearly six years ago, my husband and I worked low-level jobs in the nonprofit and public sectors. We could have waited to start a family until we were richer. Yet with careful planning, we managed to live within our means despite the addition of the dreaded D’s: Diapers and daycare.
Fortunately, our first son arrived along with new jobs and better pay. This was 2006, a time when it was oh-so-tempting to upgrade our shabby model of the American Dream. But we resisted. Daycare cost more than our mortgage. Plus, we figured our three-bedroom fixer-upper was good enough for said son to practice his Matchbox car-chucking skills.
Son No. 2 arrived at a time when job insecurity, pay cuts and reduced benefits are the reality in many households, including my own. But since our lifestyle and money values haven’t changed much since we were new parents with new careers, I’m not so worried about handling whatever financial curveballs are thrown our way.
While off on maternity leave since my son was born April 3, I took a break from watching the daily moves of the stock market. It’s something I suggest that every long-term investor do.
I admit, the roughly $200,000 pricetag that the U.S. Department of Agriculture has slapped on raising a kid, excluding college, is frightening. But remember that you’re in the driver’s seat when it comes to many of life’s expenses.
I can only shake my head at a recent survey from the family friendly classifieds site www.kijiji.com that found average American parents spending $2,577 on baby gear. No need! Buy used. Borrow from friends. Yes, it can be hard to resist the latest baby gear. The stuff’s niftier and more stylish than the hand-me-downs my son drools on. But I’m trying my best to stay focused on the major long-term expenses: college, retirement and six months of savings to keep my family afloat in case of troubled times.
Don’t get me wrong. I spent money while on maternity leave. The new stroller cost nearly $400 - on sale. …
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Tags: benefits, Business, buy, Car, Career, finance, financial, house, Job, Job Market, markets, money, mortgage, pay, Recession, rent, retirement, savings, stock
