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article imageWhat is the Real Cost of The Million Dollar Generation?

By Leah     Mar 15, 2007 in Lifestyle
Govt. estimates on the cost of raising a child born in 2005 through the age of 17 is $16,000 a year. Families in the upper one-third income bracket is estimated at $279,450 to raise a child through the age of 17.
If we add in other expenses could send the figure to more than $1 million.
Costs of raising a child does add up quickly...especially if they are in sports, music, or other activities that require special equipment. And technology isn’t cheap either. Add more for tutoring, foreign languages, camps, parties … well, you begin to see where the money goes.
I know raising the two I have in grade school right now is costing a lot. The equipment alone for some of the activities they are in are overpriced I think. Then factor in the "just for fun" activities........
Does this mean we are overindulging parents? Are we spoiling our kids? I rationalize that we are only helping them be more competitive in a society that is becoming more global. None of us wants our child to be left behind.
I don't feel like I am an overindulging parent, I do set limits on what they do, but I also want them to have fun being a kid.
I do however admit, I have a hard time saying no. I do have to start learning to do that! ;o)
I know that giving them a lot, or at least what I can afford, doesn't make them love me more, but it is nice to see the smiles on their faces.
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