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Does it Take a Million Dollars to Raise a Kid?
By JLP | March 3, 2007
Does it really take $1,000,000 to raise a kid (through age 17)? The government’s estimate is $279,450, but according to this story in this weekend’s Wall Street Journal, many people will spend much more than that on their kids. One woman even spent $1,000 on her five-year old’s birthday party:
In San Diego, Jacqueline Jones recently rang in her fifth year with a $1,000 mermaid-theme party. The fête, held at a community pool, included a piñata, pizza, cake, juice boxes, customized goodie bags for 20 and a former beauty queen who arrived dressed head to toe as Ariel, the Disney princess. Jacqueline’s mom, Laura, says it’s worth it. “A lot of my friends said I’m crazy, but I mean, it’s for a memory she’ll have forever.”
LOL! It’s more a like a memory she’ll have for two days! Trust me on this one. We spend about $150 and that INCLUDES the birthday gift! I’m not saying our way is better, but I can guarantee you that we aren’t putting our kids birthday’s on credit card.
I think the most extravagant we have been with our kids was the time we spent $300 buying each of our boys a Nintendo DS! We were in Toys R Us one day and we were back in the electronics area and started looking at the new Nintendo DS, which had just come out. Anyway, on the spur of the moment I decided (after checking with Mrs. JLP first) that we should buy each of our boys one. Afterward I felt guilty because I feared that we were spoiling them.
Anyway, I try not to judge what other parents do, but some things are just crazy. I think what people spend on their children should be based on their budgets, and that they shouldn’t go into debt just to give little Johnny the best that life has to offer.
Oh, and be sure to scroll all the way down to the chart in the article.
Topics: Kids and Money |
