There really is a volume discount. That’s because siblings share bedrooms, clothing and toys, and parents buy in bulk.
Forget global warming and your carbon footprint: families with three or more children spend 22 percent less per kid than parents with a brood of two or fewer.
Dammit! Knew my wife and I should’ve had more than two!
On the upside, according to the SPCA, owning a large dog – at least in the first year – costs a measly $1843.
Compare that with owning a human pet, which averages between $12, 290 and $14,320 a year to keep them clothed, fed and housed.
But let’s say you want to do more than just feed the critters and keep them dry in a rain storm. Let’s say you want to send them to college, pay for piano lessons, and take a vacation or two. Well, now we’re talking six figs. To keep a kid alive and thriving until age 17 will set you back $234,900 – you could probably buy four houses in Detroit for that!
Why does the U.S. Department of Agriculture – yes, that’s right, the agency in charge of other livestock like cows and sheep – keep tabs on all this? Because that’s what helps the government determine guidelines for child support guidelines and foster care payments.
Man, I gotta get in on this foster care racket – that’s practically free money if you buy generic Cheerios at Costco! And who says Cheerios doesn’t make a splendid dinner? Heated food? Super over rated.
And by the way, there is a HUGE gap in what parents will shell out for their offspring based on their income level. A family earning less than $59,410 per year will cough up $169,080 for each kid, whereas families earning $102,870 or more annually will spend $389,670. That’s a $220,590 difference, people! That first family could crank out nearly 1-2/5 extra kids on what the wealthier family pays for one.
Now we just need a study on what the effects of having your every whim granted before you reach age 16 – are, on a little something called happiness and self-worth.
Is there a dollar figure we can place on having to make your own way? Not sure, but I’m guessing it’s a smidge more than raising a large dog for a year.