The Cost vs. Rewards of Having Kids

Dad, Mom, and toddler

There is no doubt about it when they say kids are expensive.  Sure there are ways that you can save money here and there to help offset some of the costs, but when it comes down to it, each one of those little people that you have in your household may easily set you back around $200,000; and that’s just until they are old enough to move out of your house (let’s hope they don’t stick around until their 30s). That number doesn’t include college if you’re planning on flipping the bill for that. 

Cost of Kids

Let’s take a look at what kids actually cost annually.  I’m going to break this down based on the best and worst-case scenarios so you can see how it could work with your budget.  This would be a good time to check out my post on How to Make a Budget Work.

the cost vs. rewards of having kids

This budget may not include everything you might need.  Hopefully, you will receive a lot of the things at your baby shower.  However, this is an honest estimate of the costs involved in just the first year for one baby. 

As time goes on your little one will cost a little less to feed and you’ll eventually be able to save on diapers, but ultimately those costs just get absorbed into other things like designer clothes, sports and music activities, braces, and other medical procedures, and the list goes on.

Planning for Kids

Honestly, you can only do so much for family planning.  Ideally, if you already have $10K socked away in the bank and then go for it and have those babies!  If you don’t, you need to consider the cost and if you are willing to make some financial sacrifices in your life in order to add to your family size. 

In my opinion, if you are struggling financially, you should really wait to have children, unless you are willing to pick up a second or third job to make ends meet. 

Once you commit to being a dad, you need to do everything in your power to make sure that they not only have what they need but also live the most comfortable life possible.


Now that we’ve examined the cost of having kids, let’s take a look at the rewards!  And yes, the reward is plural! 

So, you just created this baby, but this isn’t just a baby.  This is a person that has your traits, like your smile, your lips, your feet, and who is modeled after their mom and dad.  This is a person with a personality of their own. 

They are a little person who depends on you to not only take care of them, but to defend them, and always keep them safe no matter what. 

With this little baby, you now have the power to mold them into becoming the good person that you want them to be.  It is up to you to teach them respect, how to be humble, how to be kind, and above all, how to love

The rewards of having children extend beyond any monetary value.  You truly can’t put a price on your kids when they bring so much joy and love to your life. 

Sure, money will be tight sometimes and you may not be able to buy the Dodge Charger of your dreams, but as you are looking in the rear-view mirror of your Dodge Caravan and you watch your little person sing and giggle, you’ll know that you not only made the right decision, but you truly can’t imagine your life without them.

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