Can You Really Afford To Have Children?

Can you really afford to have children?Children, the love of our lives! If you are not a parent yet, you might not understand this phrase.

Whether you are a parent or planning your first child is always a good choice to make sure you can afford to have a child or even another one. Children do not ask to be here, we as parents bring them into this world consequently if we can’t afford it we cause them to suffer. Children bring so much joy and love into our lives that the least we can do is ensure them the best possible lives.

Have a look at your situation, surroundings, stability, income and all aspects before making a final decision on having a child. Children do not raise themselves and they are not a cheap toy. They require a lot of attention and will cost you thousands maybe even millions before moving out of your house. Although you might be living a comfortable life now, how secure are you really? If you had a child and lost your work in ten years’ time, do you have a back-up plan?

Can you really ever say that you are prepared? No, we cannot, but we can do the best possible to ensure that provisions are made.

Things to consider should not only be limited to the first five or ten years of your child’s life and herewith I am quite sure most parents do not even look that far ahead. Have a seat and make a list of things that will have to be planned for starting with the birth. That firstly brings us to medical costs for mother and child even though the child is born healthy there will be additional costs during the first year as well as the rest of their lives. Then you will have to ensure clothing, bottles and formulas if the mother can’t breastfeed for some reason. There is also nappies, creams, soaps, shampoo’s, bedding, toys and lots more.

This is only the start!

Once the first year or two has passed you will need to look for day care maybe even sooner which will cost money. Remember you still have all the previous costs and they escalate each year. Sooner than you think your child will be entering school and the needs will once again rise. School fees, books, extra activities, school field trips and more will now get added to your monthly budget. The price of all these will climb due to inflation and usually more than what your salary would do.

From here you move on to College!  

Are you prepared for this, have you made the proper provisions? Making use of College funds, policies or emergency accounts might have been a great idea when you started planning to have a child as these would cover any unforeseen as well as unplanned costs. College will once again require fees, books, clothing, money for spending and the list just keeps on growing. Summer camps, school dances, friends, parties, so when will it stop? It doesn’t, as parent you will always be there to assist your child for the rest of their lives.

After college your child has difficulty in finding work? What now?

Surely you didn’t think that your commitment would end once your child graduated college, did you? Having a child is a lifelong commitment that cannot be cancelled or returned if you are not able to cope. You have to be extremely sure that you can really afford to have a child. Although you might think you are all set do consider the changes that life may bring your way.

Be 100% sure you can afford it!