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You Won't Believe How Much It Costs To Raise Kids - YouTube
Channel: The Young Turks
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NEW DATA SHOWS THAT RAISING
CHILDREN IS MORE EXPENSIVE
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THAN EVER.
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EVERY YEAR THIS DATA COMES OUT,
AND IT SHOWS HOW THE COST OF
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RAISING A CHILD HAS OUTPACED
INFLATION, CONSIDERABLY.
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THE COST FOR A MIDDLE INCOME
FAMILY TO RAISE A CHILD BORN
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IN 2015 TO AGE 18 WAS
$233,610,
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A 3% INCREASE FROM THE PREVIOUS
YEAR.
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IT GETS MORE AND MORE
EXPENSIVE, AND IT OUTPACES
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INFLATION, SO IT'S BECOMING
MORE AND MORE OF AN ISSUE FOR
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MIDDLE INCOME HOUSEHOLDS 帽
MIDDLE INCOME HOUSEHOLDS EVEN
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HAVE KIDS.
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IT EXCLUDES PAYMENTS FOR
COLLEGE, AS WELL AS FINANCIAL
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CONTRIBUTIONS FROM SOURCES
OTHER THAN PARENTS,
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INCLUDING GOVERNMENTAL AID.
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OBVIOUSLY THE AMOUNT YOU SPEND
ON YOUR FAMILY IS RELATED
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TO HOW MUCH YOU EARN.
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IF YOU LIVE IN A WEALTHIER
HOUSEHOLD, YOU ARE MORE LIKELY
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TO USE DAYCARE, AND YOU SPEND
MORE THAN
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WORKING-CLASS
HOUSEHOLDS.
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SO, DEPENDING ON WHAT YOUR
INCOME LEVEL IS, YOU MIGHT
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SPEND A LITTLE MORE OR A LITTLE
LESS.
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THIS IS UP TO THE AGE OF 18
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AND DOES NOT INCLUDE THE COST
OF COLLEGE.
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I DON'T KNOW TO WHAT DEGREE
THEY PUT IN PRIVATE SCHOOLS.
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AGAIN, IF YOU ARE POOR OR
MIDDLE-CLASS, MOST OF AMERICA
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IS NOT RELEVANT TO YOU, BUT IN
THE COASTS LIKE LA AND NEW
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YORK, THE SONY PEOPLE SEND
THEIR KIDS TO PRIVATE SCHOOL IN
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HIGH SCHOOL 帽 SOME IN MIDDLE
AND ELEMENTARY SCHOOL 帽 YOU AT
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THOSE IN AND THESE NUMBERS ARE
SUPER LOW.
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THIS IS A WALKING AD FOR BIRTH
CONTROL.
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BECAUSE, YOU DON'T USE BIRTH
CONTROL, IT COULD COST YOU ON
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AVERAGE $263,000.
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TRUST ME, THE CONDOM IS
CHEAPER.
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DEFINITELY.
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THE METHODOLOGY IS A LITTLE
TRICKY, THE WAY THEY MET 帽 THE
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WAY THEY MEASURE HOW MUCH
FAMILIES SPEND.
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I WANT TO GO TO THE LAST
GRAPHICS, 30,
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AND IT KIND OF SHOWS YOU A
GRAPH OF WHAT YOU ARE LIKELY
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TO SPEND THE MOST ON IN ORDER
TO RAISE THESE KIDS, AND OF
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COURSE UNDERSTANDABLY, HOUSING
IS AT THE TOP OF THAT LIST.
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YOU SPEND THE MOST ON HOUSING.
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THERE ARE A NUMBER OF REASONS
WHY THAT IS THE CASE.
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YOU MIGHT MOVE TO A WEALTHIER
AREA JUST TO ENSURE THAT YOUR
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CHILD GOES TO A BETTER SCHOOL,
OR YOU MIGHT RELOCATE TO A
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LARGER HOME, JUST TO MAKE SPACE
FOR THE CHILD, SO THAT PLAYS A
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ROLE, BUT ALSO KEEP IN MIND
THAT WHEN IT COMES TO HOUSING,
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YOU ARE LIVING THERE TOO.
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SO THE AMOUNT THEY ARE SPENDING
ON HOUSING ISN'T SOLELY FOR THE
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CHILD, IT'S ALSO FOR THE ENTIRE
FAMILY.
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I KNOW, BUT IT DOES MAKE A
GIANT DIFFERENCE.
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WHEN I WAS SINGLE I LIVED IN A
ONE BEDROOM, OR A STUDIO
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COME AND IT DIDN'T COST THAT
MUCH.
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BUT WHEN YOU'VE GOT FOUR PEOPLE
NOW IN THE HOUSE, WELL YOU
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NEED A MUCH BIGGER SPACE AT A
COST A LOT MORE.
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NOW, IF YOU ARE POOR, THAT'S
WHY THEY SPEND LESS, BECAUSE
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YOU JUST CRAM PEOPLE IN.
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WHEN WE HAD MY SON WE WERE IN A
MUCH SMALLER PLACE, AND
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THAT WAS IT, SAD DAY FOR US,
RIGHT?
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OF COURSE IT VARIES.
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OF COURSE WHAT IT DOESN'T TELL
YOU IS THE BENEFIT YOU GET FROM
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THE KID, WHICH IS IN A LOT OF
WAYS IMMEASURABLE.
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LATER ON THEY BLAME YOU FOR
EVERYTHING.
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THAT'S TRUE.
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THEY REBEL AND DO THINGS YOU
DON'T WANT THEM TO DO,
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MAYBE GET MIXED UP WITH THE
WRONG CROWD.
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YOU GOT ALL THAT TO LOOK
FORWARD TO, PLUS COLLEGE
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EXPENSES.
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BUT IT IS EXPENSIVE, THERE'S NO
QUESTION ABOUT IT, AND NOW YOU
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GET A SENSE OF HOW EXPENSIVE IT
IS.
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I STILL RECOMMEND IT, I
STILL THINK IT'S ABSOLUTE
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WONDERFUL, BEST THING I EVER
DID, JUST, BUYER BEWARE.
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