Habits of a Savvy Saving Family
Submitted by McCay Wealth Advisory on March 23rd, 2018
When people warn you that having kids is expensive, it’s no joke. From diapers to food, braces to sports activities the costs add up quick. For a middle-income family in the U.S. raising a child up until age 18, costs an estimated average of $245,340 (or $304,480, adjusted for projected inflation), according to the 2013 “Cost of Raising a Child” report from the U.S. Department of Agriculture. Of course, this number fluctuates dependent on where you live and your living habits. Saving money as a family may be more complex than budgeting as a single adult, but it can be done successfully and save you loads for retirement, saving accounts, long vacations, and mean more readily available investment capital.