We know the love you have for your child is PRICELESS, but it’s important to understand the financial responsibility of having one. Having kids is a huge expense, and the cost has been going up dramatically.

The $310,605 is calculated from the total average family expenditures on a child born in 2015 to a middle-class family that already has two children. Shockingly, this number does NOT include college tuition as it only covers the period until the child turns 18. Unless your child is a prodigy and goes to college at 14.

A recent study shows that nearly half of working parents looked for a second job to support their family. Since a lot of these costs are out of your control, focus on increasing your income by changing jobs, asking for a raise, or pursuing a side hustle. Save as much of each paycheck as you can and keep buying low cost index funds. Do this for decades and you will be sitting on a big pile of money regardless of how many kids you have! And maybe one of your kids will be rich one day and buy you a Lambo. I guess having a kid counts as an investment if you look at it that way.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Vivi & Shane