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Financial Benefits of Optimally Spacing Childbirth

January 6, 2022 | Leave a Comment

Financial Benefits of Optimally Spacing Children

The average American family has children spaced 2.5 years apart. But is that ideal? What are the financial benefits of optimally spacing childbirth?

Financial Benefits of Optimally Spacing Childbirth

People argue about what is the optimal time between children. Here are some of their arguments for having kids close together and having them four or more years apart.

The Financial Benefits of Having Kids Close Together

Proponents on this side have some good arguments as to why having your children spaced close together is good.

Initial Costs for the Second Child Are Minimal

Because your kids are so close together, you have everything you need for the second child. You don’t need to buy more baby clothes or baby gear because you already have everything you need from the first child.

Parental Careers Are Less Interrupted

If one parent chooses to stay home to care for the children, she doesn’t have to stay home as long if the children are spaced closely together. If your children are only 18 months apart and you want to stay home until they’re both in preschool at age 3, you are only out of the workforce for 4.5 years. However, if you have kids four years apart, in the same scenario, you’re out of the workforce for seven years.

You Get Discounts with Multiple Children

Proponents of having kids close together acknowledge that you may face large expenses at once, such as daycare and college. However, these parents note that you’ll get a discount. When you have two children at the same daycare, you likely get a percentage off the second child. If you have two kids in college at the same time, you’ll receive more financial aid to offset the added expense.

The Financial Benefits of Spacing Kids Four Years Apart

Others argue to reap the financial benefits of optimally spaced childbirth, children should be four years apart. These are some of the benefits you reap with larger spacing.

Only Pay One Large Expense at Once

Financial Benefits of Optimally Spaced Childbirth

The best benefit of having kids four years apart is that you pay big expenses one at a time. Some of the largest childhood expenses are daycare, braces, and college. Because your kids are four years apart, by the time your first child finishes daycare, your second begins. The same is true with braces and college. While these expenses remain constant for eight years since you’re paying them back-to-back, you never face the expense of having two in braces at once or two in college at once.

While those who have kids only two years apart argue that there are discounts for daycare and college when you have two children enrolled, you’re still paying more than if you only had one child enrolled. If you space your children four or more years apart, you avoid a few intense years of high expenses that those with kids close together experience.

My Experience

I have three kids. The first two are 4.4 years apart, and the second and third are just 17 months apart. If I look from a strictly financial standpoint, the first two are optimally spaced. The oldest was able to attend preschool while I worked full-time and my husband went to graduate school full-time. However, after we had the last two 17 months apart, we could no longer afford for me to work. The cost of two kids under two in daycare in one of the largest cities in the United States cost almost as much as my salary. I would have been working to pay for my younger two kids to be in daycare.

Likewise, my oldest was out of braces when my middle child started them, so we only had to pay for one child at a time. (Thankfully, my youngest doesn’t need braces!)

Other Factors to Consider When Spacing Children

However, our choices in life are rarely entirely about finances. When determining how to space your children, you also need to consider other factors besides money.

Non-Financial Benefits of Having Kids Two or Fewer Years Apart

Despite the added expense, there are good reasons to have kids two or fewer years apart.

Children Tend to Be Closer

While this isn’t always true, children who are closer in age tend to have a closer relationship. If you want your siblings to rely on one another and be friends, you have a better chance of that happening if your children are closer in age.

They Have Similar Interests

If your children are close in age, they are developmentally at the same stage. If you want to take them to see a movie, your pick is easy because they’re at the same developmental age. This isn’t true if their sibling is four or five years older. In that case, picking an activity that is age-appropriate for the younger child often means the older child is bored because he’s no longer at that developmental stage.

Non-Financial Benefits of Having Kids Four or More Years Apart

Financial Benefits of Optimally Spaced Childbirth

In my experience, having children closer together is better from a non-financial standpoint. My younger two have a close relationship.  However, my oldest and middle child, who are 4.4 years apart, only recently started developing a closer relationship as the middle one reached her teen years and started to share interests with her brother. My youngest still does not have a close relationship with the oldest.

However, there are some non-financial benefits to spacing kids further apart.

You Have More Time to Recover

When kids are spaced four or more years apart, you have more time to recover from pregnancy and the sleepless newborn days. Honestly, when I had two kids 17 months apart, the first two years are a blur because I was so exhausted. That didn’t happen when my second joined the family.

Easier to Give Each Child Attention

With this age gap, giving each child individual attention is easier. You can read and play with the older child while the younger one naps. You can play with the younger child while the older one plays independently.

Final Thoughts

If you space your kids four years apart, there are financial benefits of optimally spacing childbirth. However, your decision when to add to your family is rarely only a financial one. You should consider all factors to make the best decision for your family.

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Melissa Batai
Melissa Batai

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in Arizona where she dislikes the summer heat but loves the natural beauty of the area.

Filed Under: Education, Family Time, Money and Finances, Parenting Blog at KidsAintCheap Tagged With: braces, childbirth, college, family finances, spacing children

What Is the Financial Responsibility of a Step Parent?

November 19, 2020 | Leave a Comment

Step Parent Financial Responsibility

Many second marriages now come with the bonus of additional children—step children.  As a step parent, you’re expected to provide support and understanding for your “bonus children.”  But what other responsibilities do you have?  Namely, what are the financial responsibilities?

Financial Responsibility of a Step Parent?

Your financial responsibility is largely determined by your step child’s situation.  Did his other parent die?  Are his parents divorced, but the other spouse is paying child support?  Was he abandoned by his other parent and receives no visits or monetary help from that parent?  Do you have your own kids that you bring to this marriage?  If so, what is your financial situation with your ex?

All of these variables come into play when you decide what your financial responsibility is as a step parent.

Do You Want to Adopt?

One of the first questions before you tie the knot is to determine if you want to adopt your step children.  Of course, this isn’t an option for everyone, especially if the step children’s other parent plays a role in their lives.  However, if your step children have an absent parent or their parent has died, you may want to adopt them, especially if they are open to the idea.

There are many advantages to adopting step children.  Most importantly, you will then be able to have a legal say in their lives.  Likewise, if your new spouse becomes incapacitated, you are recognized by the law as your step children’s parent.

Talk to a Financial Planner

Step Parent Financial Responsibility

Photo by Amy Hirschi on Unsplash

After you’ve made that crucial decision, the next is to consider talking to a financial planner.  When merging a household, there are many financial decisions to make.

When it comes to taxes, will you file jointly with your new spouse?  If so, will you be able to claim the children on your tax return, or will their other parent?

When it comes to money management, will you merge finances or keep them separate?  If you decide to keep them separate, what will be your financial obligation to your step children?

Analyze Your Life Insurance Beneficiaries

Finally, analyze your life insurance beneficiaries.  You, your spouse, and your step children are now a family, and as such, you want to make sure that they will be able to function financially should the unexpected happen.

Unfortunately, some people forget to change their beneficiaries, so as soon as you’re married, make sure to change the beneficiaries to your new family.  Also evaluate whether you have enough life insurance after your new marriage.  You may find you need to secure more.

Final Thoughts

Each relationship is unique.  While there are no explicit rules about a step parent’s financial responsibility to her step children like there are with biological parents and children, you still want to make sure your new family is taken care of financially.  You can do this by considering whether to adopt, consulting with a financial planner, and updating your life insurance.

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Melissa Batai
Melissa Batai

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in Arizona where she dislikes the summer heat but loves the natural beauty of the area.

Filed Under: Money and Finances, Parenting Tagged With: blended family, family finances, step children, step parent

Sounds Like You Discuss Family Finances With Your Kids?

April 22, 2015 | Leave a Comment

Wondering if you should discuss your family finances with your kids? I think you should. Here's why.I had a conversation with a woman I know recently about money and kids. She made a comment about hiding her income tax papers from her kids so they wouldn’t come across any details of her and her husband’s income. ‘’I don’t want them seeing our gross income and suddenly thinking we’re rich and they can have anything they want’’- she explained. She and her husband make decent income and she is doing her best to hide this fact from her kids. She is of the opinion that children shouldn’t be involved at all with their money.

She and I differ. I think kids should very much be in the know when it comes to family finances. They need to know and understand how money works and where else can they learn (multiple times), with the security that is home? Though I have learned quite a bit about personal finances, it was all self-taught, as an adult. In the situation of this couple, she has a learning opportunity with her kids to educate them. She can, and should, teach them how far money really goes.

I read something once that said the easiest way to teach kids about taxes is to eat 30% of their icecream. She can start with this point. Show her kids the number on paper and then show how much is taken away in taxes. Now there isn’t as much money, is there? Kids think $100 is a lot of money when in reality you’re only taking $70 home for every $100 earned and of that $70 it gets split between food, housing, savings, and family activities it really doesn’t go as far as a child may think and they need to see this, not be sheltered from all finances.

Saving is so important. Both Long term and short term savings goals are not only vital to financial success but help prevent debt- one of the most important financial lessons you can teach your kids. Even though it may be your retirement goals, kids need to see how much work it is to reach this goal. Maybe you’re saving for their post secondary, show them. Let them know how much of your money you put aside every year for their future goals.

Financial education is not something we can assume they will learn outside of the home. Unfortunately they don’t learn enough about it in school, despite it being one of the most important skills a child will ever learn. Kids will appreciate the trust you give them in discussing the family finances. There are many ways you can go about actually having the conversations and you can release as many or as few details as you want. I’m of the opinion that it’s a family unit and though there may only be one or two income earners the money if for the family, the more transparency they better.

Do you share financial details with your children? If so, how much detail?

Catherine
Catherine

Catherine is a first time momma to a rambunctious toddler. When she isn’t soaking up all that motherhood has to offer, you can find her blogging over at Plunged in Debt where she chronicles her and her husbands journey out of debt. You can also follow her on Twitter.

plungedindebt.com

Filed Under: Money and Finances, Uncategorized Tagged With: family finances, kids and money, personal finance

Entertaining Kids During Christmas Break

December 4, 2012 | Leave a Comment

Entertaining Children Chirstmas BreakWith kids being out of school for a few weeks during the Christmas break, it’s easy to run out of ideas on how to entertain them. Growing up, my mom would send me to the mall with friends, handing me $40.00 to basically entertain myself for the day. While a nice treat once in a while, for most families, especially during the holiday season, this would quickly add up to be a big budget buster.

Here are a few ideas to entertain the kids (young and old) while on their Christmas break:

Host a Gingerbread House Building Party

This is loads of fun for kids of all ages. Have your child invite their friends over, either with a gingerbread house kit in hand, or you can provide the house for them (using an easy recipe and template). Have candy provided in dishes (on your well wrapped table, it will be messy!) and let them have fun creating. Don’t want to do a whole house? Try decorating gingerbread or sugar cookies instead.

Have them Volunteer

While volunteering with your children year round is encouraged, Christmas is usually a time when extra help is needed. Soup kitchens and food banks in particular are often looking for extra help during the season. If your child is under the age of 16, you may either need to grant permission or be present. Check to see if your local mall needs gift wrappers. Many malls offer gift wrapping services, often provided by volunteers, with funds raised going to local charities. Although this should never be the only reason why one does it, volunteer work looks great on university and college applications too.

Host a Christmas Themed Pajama Movie Party/Sleepover

Have a few of your kids friends over for a fun night of watching Christmas movies in their PJ’s (sleepover or not, you have to be comfy!). Provide a few snacks or have them help you make a homemade pizza and you’ve got yourself a budget-friendly party. You could even make use of one of the best vpns for torrenting and download the movies the kids want to watch in advance so that you don’t have to worry about the dreaded buffering sign appearing during the movie and derailing things when everyone is quiet and engaged in the magic of Christmas movies.

Go Outside and Play

Especially in today’s technology driven world, we forget about the simplicity of encouraging outdoor play without an abundance of toys. Encourage them to explore; pick up a stick and use their imagination! Make sure they’re well bundled if you’re fortunate enough to live in a cold winter environment and let them enjoy the fresh air.

Have them Help You Prep Meals for the Holidays.

Most kids like to explore in the kitchen. It’s a great opportunity to have the learn some kitchen skills from you and your family. Yes, it will take longer than if you did it yourself and yes, your kitchen will likely be much messier but the skills that you’ll be able to teach are much more important than some spilled flour.

Check to See if Your Local Theater Offers Christmas Break Discounts

Most movie theater chains will offer discounted tickets during the local school break as a way of encouraging the movie-going experience so check it out!

Crafts

Have your kids make everything from Christmas cards or gift tags to tree ornaments. The possibilities are endless and most require very few supplies. Who wouldn’t love a homemade card from your young one?

Encourage the Inner Entrepreneur

If you have older kids, encourage them to use their time off to make some money during their break. Ideas include: shoveling driveways, offering to get groceries (or run errands) for people who need extra help, or dog walking for people who may be away or just too busy to do it themselves.

Christmas can be stressful enough, you shouldn’t have to worry about what your kids are going to be doing while off from school. With a little creative planning, you can quickly fill their time without breaking the bank!

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Brian
Brian

Brian is the founder of Kids Ain’t Cheap and is now sharing his journey through parenthood.

 
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Filed Under: Family Time, Holidays Tagged With: Budget, Christmas, Christmas break, entrepreneur, family finances, gingerbread house, money, movie theater, Movies, school, shoveling, sleepover, snow, volunteer

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About The Author

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in Arizona where she dislikes the summer heat but loves the natural beauty of the area.

Basic Principles Of Good Parenting

Here some basic principles for good parenting:

  1. What You Do Matters: Your kids are watching you. So, be purposeful about what you want to accomplish.
  2. You Can’t be Too Loving: Don’t replace love with material possessions, lowered expectations or leniency.
  3. Be Involved Your Kids Life: Arrange your priorities to focus on what your kid’s needs. Be there mentally and physically.
  4. Adapt Your Parenting: Children grow quickly, so keep pace with your child’s development.
  5. Establish and Set Rules: The rules you set for children will establish the rules they set for themselves later.  Avoid harsh discipline and be consistent.
  6. Explain Your Decisions: What is obvious to you may not be evident to your child. They don’t have the experience you do.
  7. Be Respectful To Your Child: How you treat your child is how they will treat others.  Be polite, respectful and make an effort to pay attention.
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