Will I save a lot of money by NOT having kids?

**gamecock43** · 06-13-2008, 08:44 AM

I think kids bring you more wealth in terms of peace, pride and joy than the money in the bank not raising them.
That said, they cost a bundle and will certaintly save you money.

However, you have all this money in the bank, who will you leave it to?

**Ima saver** · 06-13-2008, 08:51 AM

Yes, you will save a lot of money!! I will leave the money to the vet teaching hospital at the university and to the humane society! (and some to friends)

**cicy33** · 06-13-2008, 09:13 AM

It depends on what you buy. If you buy lots of toys or gadgets or an expensive house or memberships you can spend just as much if not more than if you have kids. Just because one has kids does not mean they will spend more than the next person. and vice versa

**hakuna matata** · 06-13-2008, 09:14 AM

You shouldn't have children unless you want them. Yes you will save money not having children, but that really shouldn't be a consideration when deciding in my opinion. You sound like a friend of mine from college who was doing a pros and cons list trying to decide if he should have kids. There are too many intangibles to make that sort of comparison work.

My daughter has cost me a lot of money and will cost me more in the future. But she has enriched my life in so many ways that in my mind completely offset the monetary costs.

Now on this board this might seem blasphemous, but money is just money and won't bring me the happiness that my daughter brings to my life. Money isn't going to buy you happiness. You need to decide what you want out of life and how to get there in my opinion.

**ActYourWage** · 06-13-2008, 09:19 AM

Originally posted by hakuna matata View Post

You shouldn't have children unless you want them. Yes you will save money not having children, but that really shouldn't be a consideration when deciding in my opinion. You sound like a friend of mine from college who was doing a pros and cons list trying to decide if he should have kids. There are too many intangibles to make that sort of comparison work.

My daughter has cost me a lot of money and will cost me more in the future. But she has enriched my life in so many ways that in my mind completely offset the monetary costs.

Now on this board this might seem blasphemous, but money is just money and won't bring me the happiness that my daughter brings to my life. Money isn't going to buy you happiness. You need to decide what you want out of life and how to get there in my opinion.

Those are some good points. I am just glad my mom and dad didn't do a cost analysis before they decided to have kids. I enjoy my life!

**disneysteve** · 06-13-2008, 09:21 AM

Yes, not having kids will definitely save you money in some ways, but could also cost you money in other ways. For example, if my wife and I didn't have children, I'm willing to bet we would travel more since we wouldn't be constrained by school schedules or limited to family-friendly locales. We would probably dine out more. We would go to the casinos more often.

Of course, we wouldn't have college tuition ahead of us. We wouldn't be spending thousands on a Bat Mitzvah in a couple of months. There would be no wedding to worry about. And all that has been spent on food, toys, clothing, activities, etc. during the past 12 years wouldn't have been spent. Plus, my wife could have continued working full-time instead of being a SAHM for 10 years. That alone would have changed our current balance sheet dramatically and probably accelerated retirement by several years.

No easy answer to the question.

**hakuna matata** · 06-13-2008, 09:42 AM

Originally posted by ActYourWage View Post

Those are some good points. I am just glad my mom and dad didn't do a cost analysis before they decided to have kids. I enjoy my life!

I enjoy my life too and I totally love my daughter and can't think of trying to put money as the deciding factor in that determination. However I did only choose to have one child because I grew up in a VERY large family and know the sacrifices we made to get by. I didn't want to do that and thus chose to only have the one girl. I personally think deciding to have children or not is a gut feeling, a leap of faith approach and not an analytical one.

I agree with disneysteve that there is no easy answer to this question.

**maat55** · 06-13-2008, 09:48 AM

I like you did not want kids. But, you could not buy my kids for any amount. Until you have them, you may not miss them. But once you have them, you can't imagine not having them.

One thing I believe is that if you don't want them, don't have them. I feel sorrow for the children who's parents find them to be a burden.

**gamecock43** · 06-13-2008, 09:55 AM

I did only choose to have one child because I grew up in a VERY large family and know the sacrifices we made to get by. I didn't want to do that and thus chose to only have the one girl.

I hear alot of people say it is selfish, or bad to have an only child, or itsa detriment to the childs mental health....

I'm an only child and I am grateful. My parents were able to give me alot of activities and trips that my friends families couldnt afford to participate in. I wouldnt have been able to pursue alot of hobbies that I have grown to love if I had a brother or sister.
In addition, I am very very independant and never mind being alone for long periods of time. I attribute this to just having to entertain myself alot growing up. I like being alone, having 'me' time, but my fiance who comes from an italian family cant go more than an hour alone and is always up my butt whining about how he's bored when I'm in another room just reading or petting the dog. LOL.

I just wanted to send that affirmation out to you Hakuna cuz when people ask me how much I hated being an only child, I only have great things to say about it.

**hakuna matata** · 06-13-2008, 10:14 AM

Originally posted by gamecock43 View Post

I just wanted to send that affirmation out to you Hakuna cuz when people ask me how much I hated being an only child, I only have great things to say about it.

Thanks!

My daughter has said things similar to what you wrote about being an only child. Her friends all have siblings and she has made comments about having to share her space or clothes, etc. She also sees that she gets to do things like go to great summer camps that some of her friends don't get to do. And she is a reader and can occupy her time in many ways. So it is reassuring to hear an adult say they didn't feel it was a detriment. Thanks for your thoughts.

There are pluses and minuses to it of course. As a child I hated having so many people to share things with, but as an adult it is great to have my brothers and sisters to count on. But there are no guarantees--I am only close with a couple of them, the others I rarely see or talk to.

**jIM_Ohio** · 06-13-2008, 10:19 AM

No kids is cheaper when you are accumulating assets. it's possible you get that money back 10 fold or more if your kids have to take care of you when you are old, disabled or similar. One more form of long term care insurance.

Not to mention the best part of kids is creating them, and you might get to miss out on your share by not having them.

**beebop25blue25** · 06-13-2008, 10:33 AM

I can tell you that on paper, of course, it's cheaper not to have kids, BUT I wouldn't trade my kids for all the money in the world and I thank God each day for giving me my children. I have 5 of them and the love, joy, pride, and even the heartaches are worth far more than money. My life is completely complete and i've experienced adventures that I never would not have unless I had kids!! They bring to me more than money ever could.

**moneybags** · 06-13-2008, 10:45 AM

Originally posted by disneysteve View Post

Yes, not having kids will definitely save you money in some ways, but could also cost you money in other ways. For example, if my wife and I didn't have children, I'm willing to bet we would travel more since we wouldn't be constrained by school schedules or limited to family-friendly locales. We would probably dine out more. We would go to the casinos more often..

I agree. I have stayed (mostly) home for 10 years with our kids. If I didn't have kids, I would have worked in the corporate world, making some decent change. While some of that would have been saved, a lot would have been spent as mentioned above - travel, dining, nice sports car instead of the mini-van

, etc. I guess the end result would be that we would have more money saved, but I can't really tell you how much it would be.

Of course, if I get sick in my old age, and my kids take care of me, I will save money on the nursing home costs.

**money2009** · 06-13-2008, 11:59 AM

A kid ROI is generally horrific when looking at it from a financial perspective. However, the benefits (for me at least) in other areas far outweigh any dollar amount associated with having children.

Will I save a lot of money by NOT having kids?