I hate tax season. When I start compiling all the documents, look at our W2 forms and realize where all our money has gone. A good amount to charity, not a great amount, but a nice amount. Money we worked hard for and in David’s case a lot of overtime. Money we are saving for retirement seems to dwindle each year. Vacations become more camping trips and economical. Holidays and birthdays become less extravagant and more meaningful.
CNN reports that the “average cost” of raising ONE child from birth to age 18 is a staggering $245,000. That is a quarter of a million dollars. This is the “average”, according to the report those in the Northeast can expect to spend an estimated $455,000. A half-million dollars and costs are rising. And that doesn’t include what your family may pay for auto insurance, driver’s ed, tutors or college costs (or the cost of your 25 year-old that continues to live with you).
Let that sink in for a moment. Continue reading