[quote=“headhonchoII”]
Kids don’t equal money…life doesn’t equal money…and you can always earn more money. I intend to have more than enough money to have kids and live our lives fairly well, don’t see why that’s not possible if we work hard. What are these huge costs people are talking about, is it 3rd level fees? If so there are many workarounds. If you are European/American you could all move back or send them back to be resident in your home country for a number of years. There are also scholarships and cheaper university options. Taiwanese education prior to junior high school seems fine to me, in fact it will give the kids VERY VALUABLE Chinese skills and good grounding in maths, it’s junior-high and high school that I would worry about (although personally I don’t intend us to be here for that but who knows!).[/quote]
I thought I’d reply to this as I was the one saying teenagers are expensive.
First off, you’re right, kids don’t equal money. I would gladly bankrupt myself or work myself to death for my kids. Gladly. As would most parents, and that’s the depth of bonding and love that the OP would miss out on by not having kids. I think we’re all agreed on that.
But there are a lot of costs involved in raising children once they get beyond the age where they notice they’re wearing second hand clothes. As I said before, take all the costs that you pay out as an adult then add some for each teenager. So, your rent/mortgage is higher because you need accommodation with another bedroom. Nearly all utilities will be higher as a result. Then there’s food. If you’ve ever fed a growing teenage boy you’ll know what I’m talking about. Then there’s all the usual costs involved with just living, e.g. transportation (running a car or an extra car may be necessary depending on where you live and where your child goes to school), holidays, presents, haircuts, clothes, going out to eat etc.
Your child might work from the age of fourteen or so to buy their own clothes, but you’ll be buying them up until then at least. Regarding part time work, lots of parents think they’ll encourage their child to work and pay their own way and so develop a good work ethic, but when the time comes it might not work out that way. My eldest didn’t try to get a job. It was hard for him to because he visited his dad every other weekend, and we live out in the sticks so it would’ve been hard for him to get to and from work. Here in the UK you can’t drive until you’re 17 and car insurance for a 17 year old is about £2000. To insure him to learn to drive in my car would have been about £1000. Also, he worked really, really hard at his school work and got great results, but that meant he was working most evenings. Having said all that, I was still a stingy parent and wanted him to get a job, so wouldn’t buy him clothes etc. (what a cow am !?!) All of this assumes that part time jobs are available in the first place. At the moment jobs are scarce for everyone in the UK.
My second son’s in his last year of school. Currently, as well as the general costs I outlined earlier, I pay for his school bus, lunches and school trips. I’ll also pay for any additional study books the school says he needs. Come September, I’ll be paying his and his brother’s uni tuition fees. In total, I’ll be paying out roughly £25,000 over the years they’re both at uni. This is in addition to the loans they’ll have to take out. There’s a limit to the maximum loan amount allowed so they’ll have to work too.
So far I’ve just covered the basics. Lots of parents end up spending out lots more. I’m stingy compared to many of my son’s friends’ parents. Lots of parents help their children with getting their own transportation, especially daughters who they would rather see driving their own car than trusting to taxis and friends for their transport. Lots of parents will buy their children mobiles and pay the contract so that they can contact them and know where they are. I won’t pay for these but one thing I will do for my kids is pay for additional activities like swimming lessons and musical tuition (which of course isn’t just the cost of the lesson but also the instrument, books, transportation). I think learning to swim is essential for every child and a musical education is very enriching, so I’m happy to pay for these, but there are many other opportunities available to children and even if you don’t think they’re essential it’s hard to refuse your child something that all their friends are doing.
These are just off the top of my head. There are probably several other things I haven’t thought of (like, come to think of it, all the childcare costs if you both work), but basically in my experience my children are easily my single highest expenditure at the moment, and that’s speaking as a tight-arse. You routinely go without in order to pay for something for your kids. It’s very easy to economise while they’re young but very difficult when they get older. You love your kids and it’s natural that you won’t want to deny them opportunities or things that will benefit them.
It’s also easy to say that you’ll (I mean ‘you’ generally, not you in particular hhc) return home for your children’s high school education but there was a thread a while back discussing the fact that it might not be so easy to do that in practice. Here in the UK things are looking very, very bad at the moment. People are losing their jobs left, right and centre. Even if you were able to land a job there’s no guarantee you’d get your child into a good state school. Places are oversubscribed and people move (or lie to pretend they’re living in the catchment area) in order to get their child a place in a good school. You really wouldn’t want to send your child to a bad school here. Whether here or in Taiwan, if you can’t get a good free education for your child most parents will pay through the nose for a better one. If your child does go to a private school the costs don’t stop at the fees either.
So I think it’s easy to be sanguine about the costs of raising children when they’re young. Once reality bites you may find that things don’t work out as well as you thought they might. If university scholarships were that easily available all students would be on one. And you won’t want your child to go to a cheaper university because that’s all you can afford. You’ll want to enable them to fulfil their potential to the utmost because that’s what a loving parent does.
Sorry if this is a bit of a downer after all the mostly upbeat posts about the joys of being a parent. I agree with all of that. But to say that kids needn’t be a drain on your finances just isn’t realistic in my opinion. You probably can raise kids really cheaply throughout their childhood but you’ll also probably find that you don’t want to.