A beautiful baby is something that many of us dream of having someday. And while it goes without saying that a bouncing baby boy or girl can bring so much to our lives, it would be totally irresponsible (plus, a bit delusional) of us to ignore the fact that while children are a worthwhile investment, they are also a pretty expensive one.
According to an article that was published in Forbes magazine in the summer of 2012, it would appear that a child, on average, costs $235,000 to raise and guess what? That’s before factoring in their college education. So, in preparing for a bundle of joy, what are some of the things that you need to have in place to make things less financially burdensome? We’re so glad that you asked:
A job. You would think that this one would be a no-brainer but the reality is that with the kind of economy that we (currently) have, a lot of individuals are struggling to make ends meet. It’s one thing for an adult to live off of Ramen noodles for a week. A baby needs a lot more than that. Therefore, steady income is an absolute must.
Health insurance. OK, who doesn’t groan at the thought of this particular topic? Even if you do have a full-time gig, your employer may not offer the best of benefits and if you are an at-home or contracted worker, it’s usually up to you to come up with your own insurance plan. A child needs a pediatrician. This means you need to have the means to pay for it. This means that you need some good health insurance.