Financial Burden Of Being A Parent

Why Do People Take Up The Financial Burden Of Being A Parent?

We always feel very proud of our accomplishments. The amount of pride that fills us is when we achieve a milestone is often overwhelming. We might feel the same intensity of emotions coursing through us when we get to know about the accolades of our loved ones, our siblings, friends or cousins.

I will tell you something about the human kind now. We could be the one of most successful people in the world; however, if the people close to us become even the tiniest bit more successful, we would feel a pinch of envy. I am by no means saying that we won’t be happy, we would be, but just not as much as we would have been upon our own success. 

Am I right?

There is only one person and one person alone in this world, who could fill us to the brim with happiness and appreciation when he or she succeeds. We would not compare our success with his ever. We would always wish them to become more successful than us.

Can you guess who this person could be?

I am sure the title would have given you a hint. The person for whom we would pray and help them accomplish by pulling all-nighters is our child. We would give our lives for them without a moment’s thought, so what are a few extra expenses.

Children- The Greatest Expense

Like I have told you, children are quite expensive. I do not mean to compare a child with money, my intention here is to let the prospective parents know that children can be bring along exorbitant financial expenses on you.

To understand how expensive becoming a parent can be, here is a situation.

You are one single person. You need a place to stay, clothes to wear, food to eat, and you also have plenty of other miscellaneous expenses. These could range from upgrading your phone to having weekly get together with your friends and family.

So, majority of you income is spent on these expenses, your needs and wants. 

Now, if you have a child, this makes you two people, the number of family members doubled, consequently, the expenses would double. Just to inform you, your child might just take a chunk larger than you spend from your income and it would keep doing it for a long-long time.

The baby diapers and the baby formula;

The regular doctor visits of vaccinations and check-ups;

The school fee and if you are considering private school, multiple the former by 5;

The new clothes, the new gadget, the new books, the new recreational sport and its paraphernalia;

Then finally, sending them off to university and hoping that when they come out they would achieve all the glories of success;

Parenthood is extremely hard financially, you might be able to save much for a long time after a child is born, unless of course you find a gold mine; I am still searching for mine.

Children- Prepare for Them

The present world is unpredictable enough; we cannot make it more so. The only way to deal with the unpredictability of the present world is to be prepared for everything it can throw at us.

The same is true for having children. You have to be prepared for them, if not mentally, then at least financially. Being a parent is the greatest gift and accomplishment for every one of us. So, if by having a child, we feel burdened, then we are definitely doing something wrong. Starting family without becoming financially stable is bound to make you feel burdened.

So, we have to plan;

  • Decide; the foremost thing to do is decide when you want to have a child. I know this sounds a bit too practical, but it would give you the time to prepare yourself and get your finances sorted.

  • Save; next is to start saving. A child needs a lot of things and those things cost a lot of money. So, you must save as much as you can.

  • Ask; this one may or may not work. When I was about to have my first child, I needed the money, so I simply asked my boss for a raise and he happily obliged. So, when you want things to turn your way, simply ask.
  • Invest; investment is a no brainer. Even before your child is born, you can start investing for his education, so that when the time comes, you do not have to tell your baby that you cannot afford Oxford.

  • Battle; there is a chance that all of these would work for you, but there is also a chance that they may not. So, if you get pregnant by chance without planning, do not hesitate to seek financial help. Loans without guarantor from direct lender helped me, when I got to know that I needed surgery and my insurance covered half of the payment. You can only prepare for so much. 

Children- Your Present and Your Future!

A parent would do anything for his child, just about anything. His entire life is devoted to his children and their needs and desires. 

Despite the fact the children bring along mountains of expenses, you will not find a single parent in the world who would say that his baby is a burden. Parents would willingly give up on their dreams and aspirations and prioritise their baby. 

My question is why should they?

A little bit of planning with a little bit of foresightedness and they will find be able to fulfil anything and everything their entire family wants.

Radhe Gupta
Radhe Gupta is an Indian business blogger. He believes that Content and Social Media Marketing are the strongest forms of marketing nowadays. Radhe also tries different gadgets every now and then to give their reviews online. You can connect with him...