CDFS 408 Lecture 8: cdfs 408 module 8
3 Jun 2018
School
Department
Course
Professor
Children and Money
The Parental Reality
Potentially one of the most financially demanding transitions during life cycle
Not only financial constrains but also time constrains
Loss of sleep, household tasks, work activity
Time constraints viewed differently by parents
This based on the emotional rewards of parenting
Cost of children can also be measured in terms of quality of couple’s relationship
National data shows women tend to have more arguments about children and money
No data on men
The Cost of Raising a Child
First concern is the additional resource demands
Food, clothes etc.
Generally children from birth to 18 years cost parents $150,000 to $300,000
Another significant cost is college tuition
In 18 years a college education could cost a total of $200,000
An overemphasis on the financial cost of raising children may lead many couples to delay
parenthood until they are financially secure
Financial Obligations and Negotiation
It’s hard to say “no” to children
Disagreements on how to allocate resources can increase arguments among the parental unit
How these arguments affect the relationship is mainly associated with couples’ communication
style
Family Resources, Children and Race
Income
Document Summary
Potentially one of the most financially demanding transitions during life cycle. Not only financial constrains but also time constrains. This based on the emotional rewards of parenting. Cost of children can also be measured in terms of quality of couple"s relationship. National data shows women tend to have more arguments about children and money. Generally children from birth to 18 years cost parents ,000 to ,000. In 18 years a college education could cost a total of ,000. An overemphasis on the financial cost of raising children may lead many couples to delay parenthood until they are financially secure. Disagreements on how to allocate resources can increase arguments among the parental unit. How these arguments affect the relationship is mainly associated with couples" communication style. Black and hispanic families- a greater # of children associated with lower incomes. White families-greater # of children associated with greater net worth.
