The Cost of Raising Children

Much like the credit card commercial would say, the cost of raising a child is..."priceless".  But is it?

The US Department of Agriculture has estimated the cost of parenting and published tables for two-parent households and single-parent households.  The cost estimates end when a child reaches 18, but everyone knows that most parents still economically support their children for several years afterwards - either through tuition contributions, housing contributions, or a "little something".

Bankrate.com  has published an interactive worksheet to help plan the financial impact of a child on a family.

In 2002, The University of Minnesota published a well-reasoned paper on the cost of raising children.

So there are three easy-to-find tools available to prospective parents on the financial impact of raising a child.  But how many prospective parents actually use these tools?  Clearly not everyone.  According to the National Center for Children in Poverty, 18% of the children in the US are living in families that are officially considered "poor".  In California, that number translates into 2.12 million children living in poverty.

That number is simply unacceptable.

If people had to prove their ability to financially support a child, far less children would subject to this devastating condition.  If people were licensed, more children would be raised out of this economic quagmire.

Again, California voters clearly spoke that protecting the children was paramount when they passed Proposition 8.  Those of us who support TPFA believe it is in the best interest of everyone to make sure children are raised in a household that can support the child and his/her development.

People invest in IRAs. 401(k)s, retirement funds, mutual funds and all sorts of financial vehicles to ensure their comfort in the future.

Like the song says, "children are our future", and like any investment for the future, the financial impact must be evaluated.  There are financial thresholds for qualifying for a mortgage and car loan - those are simply things.   Yet there is no financial threshold for the expenditures required to parent a child.

Supporting TPFA will assure children the financial security they deserve.