Skip to content Skip to main navigation

Community

Experts in Wills, Trusts
& Estate Planning

Half a million to have a kid

By GnT - 12 December 2007 32

Researchers for the University of Canberra have found that it costs roughly $500,000 to raise two children from birth until age 21. The amount varies depending on your income level. High income earners spend a lot more on education (presumably due to private school fees) whereas low income earners seem to spend a lot on recreation. Not sure if this amount include loss of income.

This research delivers no big surprises to me. I’d like someone to do a study which shows only what you need to spend to raise a happy, healthy child, which should be roughly the same across all income brackets.

What’s Your opinion?


Post a comment
Please login to post your comments, or connect with
32 Responses to
Half a million to have a kid
sepi 5:15 pm 12 Dec 07

yep – your taxes give me 5.00 a week – yay for that. and I can’t say no to it – you can’t enrol without signing up for it.

why do they even bother with the useless childcare subsidy at that rate – the stupid paperwork must cost more than that. and the pointless visits to queue up at medicare or centrelink to sign up.

Mr Evil 4:57 pm 12 Dec 07

“I pity those who are barren or too stupid to have a family for all they are missing out on.”

I pity myself too – for all the tax I pay helping greedy people keep their little darlings in childcare 12 hours/day – money that could be better spent on something more useful, like hospitals.

howdy 4:46 pm 12 Dec 07

Higher income earners probably have to spend more on childcare to earn the higher salaries. And then there’s the guilt money spent by some parents on their kids when their parents work too much.

This would also affect people on lower incomes if they need two salaries to afford rent/mortgages.

BattleKath 4:36 pm 12 Dec 07

thanks ingeegoodbee, but i don’t need your pity… I think you’ll find most stupid people DO have families.

sepi 4:36 pm 12 Dec 07

It must be possible to do it cheaper.
People on a pension wouldn’t get that much.
And you can always shop at vinnies or on ebay for clothes.

Ingeegoodbee 4:24 pm 12 Dec 07

Worth every dollar in my book.

I pity those who are barren or too stupid to have a family for all they are missing out on.

Gungahlin Al 4:23 pm 12 Dec 07

But then, I guess if it gets the message out to bogans that having a kid just to get a baby bonus payment ain’t going stack up financially, then it’s served some purpose. But the story would have to be covered on Today Tonight in order that bogans were to hear about it…

Gungahlin Al 4:20 pm 12 Dec 07

My comment was not a complaint AD. Rather an observation on the funding of research into the blatantly obvious…

Dark and Mysterious 4:12 pm 12 Dec 07

What you ‘need’ to spend? Talk about a wide range of opinions on that one! Did I ‘need’ to pay for my child to be inoculated against chickenpox, meningococcal and pneumococcal(before some of these were free?)? I thought, ‘Yes’, but some parents might balk at the $$$$ or not be able to afford it!

Just one example, there are lots more.

Fair enough to pay to bring up your kids, and I planned having a family knowing my wallet would get a bruising. But having said this, costs of some things like childcare really should be looked into, the price rises are atrocious. How many people can’t work (and pay taxes!) because of the fees?

I also note in that article that $500K is a median, many parents pay more! Probably most Canberrans, I’m guessing….

Mælinar 4:08 pm 12 Dec 07

… They are my slave labour…

Serendipity 4:00 pm 12 Dec 07

Cheap at half the price…..dont we raise our kids to be our future? The cost in dollars including education is the committment we make in bringing them into this world in the first place. For mine and I am speaking from experience, money well spent and I am not counting. We make do within our means to allow them the best future. They pay that back in kind as you see the fruits of your labours mature. They are not our liability, they are our asset.

Ari 3:13 pm 12 Dec 07

AD, there’s more bait in that that a Japanese long-liner 😉

Absent Diane 3:05 pm 12 Dec 07

anyone who is stupid enough to have a child deserves whatever comes to them. I hate nothing more than listening to idiotic parents whinge about their children or how much they cost to water and feed or how because of children they are broke. Guess what? it is your own fault deadshitz!

Gungahlin Al 2:55 pm 12 Dec 07

None of us with children would have needed to conduct research to know this as fact…
(With or without private schooling.)

Mr Evil 2:12 pm 12 Dec 07

Ban children: they cost too much to own, and they cause untold enviromental degradation.

Buy a dog instead: less trouble and they love you unconditionally, unlike children.

1 2 3

Related Articles

CBR Tweets

Sign up to our newsletter

Top
Copyright © 2017 Riot ACT Holdings Pty Ltd. All rights reserved.
www.the-riotact.com | www.b2bmagazine.com.au | www.thisiscanberra.com

Search across the site