https://padlet.com/tessaferguson1/tgm058ooj32ab6r7 Tessa Ferguson 100797245 en-us 2023-02-28 04:32:49 UTC 2023-04-02 19:13:54 UTC hello@padlet.com tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535360178 This website explores how the cost of becoming a parent is becoming harder to afford in today's society. Most millennials who want to start a family, and are at the age to do so, are postponing it so that they can cut back on expenses until they are in the right financial position. The cost of having a kid is up to $10,000-$15,000 per year, per kid. When you just have a child, your income is reduced because you go on maternity leave. Then when you go back to work, some people put their kids in daycare, which is another expense. A lot of people cannot afford to do this, which is why a lot of millennials are not having kids at the moment.

This website is very beneficial because it includes the reasoning why people aren't having kids at the moment, and it includes an average price of having kids these days, which not all websites have. ]]> 2023-03-28 16:56:38 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535360178 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535363806 This website describes the struggles couples have when they are trying to budget for starting a family. It is stated that an average amount it will cost to raise a kid from birth tot he age of 18 is around $257,364. They explain that, although this number can look scary, when you break it down into monthly payments, it is not as bad. Parents also have to consider the money it will cost them when they start putting some away for their kids' education as well.

Unlike the other websites, this one has a calculator that you can download to Excel which will help you figure out what the cost will be for having kids.]]> 2023-03-28 16:59:09 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535363806 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535369269 This picture was made in 2022 to show a general representation of how much money going into raising a baby. This is really helpful for people who are considering starting a family because you can use it to plan your financial plan and budget so that you know a general idea of how much money you are going to need to have a baby.]]> 2023-03-28 17:03:07 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535369269 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535375616 The author of this article helps guide the reader through all of the different expenses involved with raising a kid by using her personal experience from when she had kids. She kept track of all of her expenses while she was raising her kids in order to help out other parents. She explains that some of the expenses you'll have will vary depending on the age of your kid, for example diapers and food. After explaining the 7 main expenses, she put the costs of them all at the end of the section for what it will cost a parent in the baby's first year. Then she explains the different budgeting parents will have to make in the baby's first year as well.

One thing that this website has that the others didn't is that it is very personable. Since the author is writing from her personal experience, it makes her advice feel more real and makes you more invested in what she is saying. This is a great website for expecting parents to read.]]> 2023-03-28 17:07:07 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535375616 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535379781 This wall lays out what people who want to become parents should know before they fully decide on that decision. It explains some of the costs involved and where those costs come from. This is meant to guide future parents in the right direction to help them plan out their financial plan they will need to make in order to have a child.]]> 2023-03-28 17:10:06 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535379781 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535383184 This photo shows the average cost of having a kid from when their born to when their 18 years old. This is really good information to see for anyone who has kids or is thinking about having kids because it says that the total cost from birth to 18th birthday is roughly $310,244, which is an amount that might be too high for some people. It is important to remember that this isn't going to be 100% accurate because every situation is different, but it is a good base to go off of.]]> 2023-03-28 17:12:40 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535383184 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535388280 This topic really jumped out to me because I know that, in the future when I'm ready, I would love to start a family and have 2-3 kids. I always knew that it was expensive to have kids, but I never knew HOW expensive it really was. Knowing that it costs anywhere between $10,000-$15,000 per year for one kid, it made me realize that I will need to make sure that I am in a good financial position before I decide to start a family. If I were to pass on any information to a family member, I would tell them to make sure they have a financial plan and budget well before having kids because this could really benefit them in the long run. It is good to have a financial plan and to review and revise it regularly because your current situation could always change, as long as prices of products and services in the world.]]> 2023-03-28 17:16:10 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2535388280 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541267470 This website explains how the cost of childcare has gone up a lot, especially with the cost of food and clothes. Some people who want to have more than one kid realize after their first kid that they can't afford another one. People are wanting the government to offer more benefits to parents so that it doesn't cost as much to raise a kid, but this hasn't happened yet since the problem is only getting worse.

This website includes the government's part in the cost of childcare, which the other websites didn't include. This is useful information because it is important to be aware of your country's contributions to helping your family out to know if they are benefitting you.]]> 2023-04-02 17:59:48 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541267470 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541278322 This short video consists of dads explaining the costs of parenthood that they were surprised about. One of the dads explained that he realized he was going to need to have another source of income while his wife was on mat leave since they were a dual-income household. They also explained that parents need to consider putting money aside for education, vacations, and everyday expenses for their kids.

This video shares information from real dads who have had to deal with these expenses, which makes this video more personable. One thing that I took away from this video is the importance of budgeting and saving for your kids.]]> 2023-04-02 18:21:38 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541278322 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541285218 This video shares 5 tips you need to think about when you are raising a family and why they are important. The tips were: making a budget, investing in your child's education, getting the right insurance, keeping your debt under control, and to give yourself a break. Doing all 5 of these things will help parents become the best parent they can be. They didn't specify how much everything will cost, but they did give information on how you can prepare for parenthood, which is more beneficial to some people because the cost of parenthood will vary depending on the situation.

One thing this video shared that was unlike the other videos is that when you put money into an RESP for your kid, the government will match 20% of your yearly contribution, up to $7200. This is important information for anyone who is having kids because it will help them consider investing into an RESP.]]> 2023-04-02 18:35:29 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541285218 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541295772 This video shares what you can expect the cost will be for your child's first year. The owners of this YouTube account, who also were the ones in the video, are expecting parents and were explaining what their budgeting has looked like so far and what they predict things will cost them. One of the tips they gave was to not buy expensive things that won't be used for a long time. For example, babies and kids grow out of clothes so fast that it would be a waste of money to buy expensive clothes. Hand-me-downs and a great way of saving money because most parents are wanting to get rid of their kid's old clothes and cribs after they've outgrown them.

One thing that I really took away from this video, which is why I included it, is when they said that you don't need a new house or a new car or any new things to be a good parent. In my mind, I have always though that I would need all of the newest things to raise a kid right, but the point they made by saying that your baby won't judge you really was an eye opener for me.]]> 2023-04-02 18:59:21 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541295772 tessaferguson1 https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541302449 This video shares how you can be more financially prepared to become a parent and why it is important to consider all of the factors of expenses that goes into childcare. This video is more so directed to parents that live in the US, but the tips and information can be considered by parents who live all over the world. They talk about how the average age kids are when they leave home is 22 years old, but sometimes they will still need your financial help, even when they are all grown up and don't live with you anymore. Another good piece of information was that the cost to raise a child varies based on where you live, and that it is cheaper to raise kids in rural areas, rather than urban areas.

One piece of information that really stood out to me was that when you have 3 or more children, the average cost per child decreases by roughly 24% because you can reuse clothes, toys, and you can buy food in bulk. This was useful for me to know because when I have kids, I would like to have 3, so knowing this helps me not stress out too much about the cost of having 3 kids.]]> 2023-04-02 19:13:54 UTC https://padlet.com/tessaferguson1/tgm058ooj32ab6r7/wish/2541302449