NEW YORK, Sept. 18, 2012 /PRNewswire/ -- According to Forbes.com, a new study shows just how expensive it is to raise a child in the year 2012. The study, released by CNN Money, shows that the cost of raising a child from birth to age eighteen has jumped from $165,000 to $226,000 in the past decade. This figure doesn't include college expenses or costs associated with pregnancy and delivery, so actually it's even more expensive to have a son or daughter. Slava Volman, a daycare provider and father to adult children, believes it's important to take an analytical look at the family's financial situation and cut costs where possible to make sure money is spent wisely.
The study goes on to explain that parents can spend as much as $13,000 per child each year. This figure accounts for food, housing, and transportation, in addition to other fluctuating costs such as clothing and entertainment. Childcare and education make up the second largest expense for most parents' budgets.
Slava Volman says, "It's no secret that childcare and education are becoming more and more expensive for parents. These costs are something families need to keep in mind as they budget money and plan for children. It's important to think about how money is spent. Buying designer clothing and shoes may seem like a priority, but it's probably more useful to take some of that money and spend it on a high-quality daycare, preschool, or other educational program. In the long run, social interaction and reading skills will last a lot longer than a new pair of brand name jeans."
The new study explains that the average parent spends about $700 on school supplies. Back-to-school shoppers spend a collective $83 billion on school supplies during each new school year.
Slava Volman says, "Spending money on your children is wonderful. If you have the luxury to do so, it's something you should feel proud of. You specifically work hard at your job so you can give your children the tools they need to thrive. But it's important to consider exactly where these dollars are going. Make sure you're investing in something that will benefit your kids long term."
Slava Volman is the owner and founder of Shooting Stars Daycare. The facility aims to provide highly structured, fun, and intellectually stimulating childcare for kids of all ages. The program started small and now serves about thirty boys and girls per day. Prior to his experience as a childcare provider, Slava worked for years as a Kindergarten teacher and afterschool childcare program supervisor.
SOURCE Slava Volman