Comments on: Why You’re Broke – You Have Children

By: fivecentnickel.com

fivecentnickel.com — Tue, 31 Jan 2006 05:04:00 +0000

Weekly Roundup – 01/27/06

Today marks the end of a busy first week at the MoneyBlogNetwork? What follows are some links to articles that I found to be particularly interesting around the network and elsewhere?

By: byusteeler

byusteeler — Wed, 25 Jan 2006 15:37:06 +0000

All the rich people I know (and I actually know a couple of billionaires) have children. I think Children are expensive but they motivate us to do better and be more responsible. Of coarse most of the poor people I know have children too. I’m not sure children are a factor at all. I think it is more about ambition, motivation, perserverance and maybe a little luck.

By: Perky

Perky — Wed, 25 Jan 2006 13:03:15 +0000

hmm, with an income that hasn’t gone up in 3 years, and a houshold that grew to now 3 children, I have a budget of LESS….. I think what you feel like spending on your kids means more than just that you have them. I prolly never would have cared to get furgal if it wrn’t for them, so my kids are saving my credit .

By: J~

J~ — Mon, 23 Jan 2006 18:52:26 +0000

With two kids, I can definitely relate to the extra financial stress that it brings. That being said though, my wife and I have been able to outright eliminate the cost of clothes and toys thus far through hand-me-downs and exchanges with other parents. Unfortunately, that opportunity will likely not hold up long-term but we at least have some time to think of some creative ways to possibly reduce the expenses.

By: Frugal Momma

Frugal Momma — Sun, 22 Jan 2006 23:18:26 +0000

Kids are expensive there is not doubt about that… been in the kid business 7 years. And I know my expenses are no where someone who has older children. However make priorities on our spending and saving.

By: Michael

Michael — Sun, 22 Jan 2006 18:04:37 +0000

Of course kids are expensive. I have three years of experience with this. Not much, I know, but I can project into the future pretty well. I see lots of dollars heading out the door.

Parental decisions, however, are still the overriding factor. Many parents I see on a daily basis are still kid-like with their money. Add the normal child expenses to this kid-money mentality, and you have the perfect recipe for Still-Broke-And-It’s-Still-Payday syndrome.

By: ~Dawn

~Dawn — Sun, 22 Jan 2006 00:58:28 +0000

I guess this just adds to the confusion of marriage building wealth.

To break it down:
single person- poor
married person- wealthy
married w/kids- poor
divorced- poor

It is logical a DINK (double income no kids) would be wealthier… slow news day maybe?