Contrary to the old saying; when it comes to financial education less will never be more.
As a society, our expectations of what constitutes an acceptable standard of living for our children has risen exponentially. In fact, in the last 10 years child-rearing costs have gone up by 45 per cent, while our household incomes have only risen by about 23 per cent. Also, in a recent study, we can now expect to pay out $297,600 per child, from birth to the age of 17, in Australia.
When we plan to start a family, we look through rose-coloured glasses dreaming of a beautiful home, exotic holidays every year and lot of time off from working, however, were often not thinking five to 10 years down the track and how well be supporting this new lifestyl…
Read the full article at: https://www.kidspot.com.au/lifestyle/career-and-money/budgeting/how-to-avoid-financial-strife-as-your-family-grows/news-story/34861d3646cb1d9caef15936223e35ae