News of a new child… good or bad?

January 20th, 2009 Comments Off on News of a new child… good or bad?

  Well today marked another historical day in our family. Going to my sister’s place today I had some good news and bad news for her but it was pretty minor. Passing my news was no big deal when I found out that she was pregnant.
  Great news, right? Not really. When you take into account that she has two kids currently with her husband and can barely make it by. Many things people need to think about when bringing a child into the world. You have many things like medical care, schooling and general parenting. In a recent study diapers for a child cost about $1,150 a year. That is a lot of money that could be well spent when a third child is unplanned.
  College costs currently are on average $6,600 per year for a four-year public college. When you figure in a private school, you are looking at about $35,000 a year. This is a lot of money to add in when you do not have a retirement plan setup and you have three kids.
  What would happen if you were injured at work? Workers’ Compensation insurance only covers a portion what you were making. Could you imagine having health problems? Being laid-off from work? With the economy today….

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