I recently had lunch with a few coworkers (all of whom are new parents), and we were talking about the cost of daycare and the cost of raising kids generally speaking. I shared my opinion that children don't have to be net worth killers which seemed to be initially well received, but was later rebuffed in a round about sort of fashion (typical Minnesotans).
At the core of my argument, I assert that some kid costs that are mostly out your control (health costs, food, etc.), but your lifestyle will dictate the majority of your kid related spending (daycare, house, cars, activities, etc.). Which seems all well and good and even logical until you start talking with folks whose household income tops $200K per year. When this group becomes your core audience, you suddenly have to ask the question, "Is frugality universally helpful, or do my friends earn enough money to live their desired lifestyle without concern for money management?"
After much deliberation, this is where I've landed on the issue.
At the core of my argument, I assert that some kid costs that are mostly out your control (health costs, food, etc.), but your lifestyle will dictate the majority of your kid related spending (daycare, house, cars, activities, etc.). Which seems all well and good and even logical until you start talking with folks whose household income tops $200K per year. When this group becomes your core audience, you suddenly have to ask the question, "Is frugality universally helpful, or do my friends earn enough money to live their desired lifestyle without concern for money management?"
After much deliberation, this is where I've landed on the issue.
This rock represents my attempt at a balanced perspective.
Photo Credit: "Balancing HDR", © 2008 Jasen Miller, Flickr | CC-BY | via Wylio
Photo Credit: "Balancing HDR", © 2008 Jasen Miller, Flickr | CC-BY | via Wylio