$448,000

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Voice of Reason

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$448,000 is the estimated average cost of bringing up two children until they are 20.

This is average, so no doubt it costs much more in some circumstances (eg private school).

Politicians whingeing about a low birth rate in Australia - what will you do to incentivise the next generation to reproduce? (Meaning it's too late for this skint old git).
 
Originally posted by Voice of Reason
$448,000 is the estimated average cost of bringing up two children until they are 20.
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Yes. That would be the approximate cost of raising two over-indulged materialistic brats.

Take away their mobile phones and you could probably halve that amount.
 
I tried to do some sums on my two boys who are now over 20. Even with private school fees I can't get it anywhere near $448,000.
I can only believe that it is statistical bunkum.

In fact, thinking about it, I know of quite a few couples who have raised families on incomes of $30,000 pa or less. That means less than $25,000 pa in the hand and over 20 years $500K. They couldn't possibly have built the houses, had the hilidays, bought the cars and fed themselves if they only had $52,000 left to do it with!!!!!!
 

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Originally posted by Voice of Reason
$448,000 is the estimated average cost of bringing up two children until they are 20.
This is average, so no doubt it costs much more in some circumstances (eg private school).
Click to expand...

That would have to win the most totally inacurate stat of all time award.

I know its 'estimated average' but it varies that much that it's just not funny so i dunno how they can even work out such a figure.

Like u said private schools is one thing.....when i went to private school in yr 7 it cost like 12 thousand a year or somethin then it goes up way more each year as u get closer to yr 12. So it would work out to be around 80 000 bucks just for high school then wot if the parents chose to send their child to private school for their whole 13 years of schooling.

Plus when u turn 18 parents pay for *** all anyway so i dunno why they count it up to 20.
 
Re: Re: $448,000

Originally posted by Spidergirl~RiCkChiCk


Plus when u turn 18 parents pay for *** all anyway so i dunno why they count it up to 20.
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Well 18 to 20 was probably the most expensive for me. A car each and a generous monthly allowance. Plus they eat so much it was unbelievable.
 
It does include a proportion for housing, cars etc.

Not very accurate because you're still going to live in a house, drive a car anyway.

Anyway, what's the old saying? "you spend what you earn". If you weren't spending it on the kids it'd just be going on something else.
 
exactly, i thought when i heard that stat that they'd be dividing purchases spent between the kids, so a $500,000 house bought because it has 2 extra bedrooms is spending more than a $300,000 with 1 bedroom.

plus they probably subtract the cost of a mazda 323 from a holden commodore, a 4 piece dining suite minus a 2 seat plastic bbq table and crap like that.
 
Ive got four kids and i cant see how they have got that figure, my best mate was one of 13 so his parents would have had to have been trillionaires to bring them up.

I may have to ask for a payrise........ i work for myself though.......DOH
 
Originally posted by fabulousphil
one of 13 so his parents would have had to have been trillionaires to bring them up.
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They were talking about this on Sunrise this morning. Apparently Food is the most expensive item...then transport and recreation. Education was one of the lower items.

I think it is impossible to gauge this, and phil, they say the more kids, the cheaper it is. Eg. 2 kids wouldn't be 1 million dollars
 

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Originally posted by saiak


They were talking about this on Sunrise this morning. Apparently Food is the most expensive item...then transport and recreation. Education was one of the lower items.

I think it is impossible to gauge this, and phil, they say the more kids, the cheaper it is. Eg. 2 kids wouldn't be 1 million dollars
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Yeah i understand ....... with hand me downs, buying in bulk etc etc etc.

I knew a family who were so poor that they had to jerk the dog off to feed the cat, so it had something warm in its stomach.

Yeah i know............ its in bad taste.
:p :p
 
I've heard of averages like this before, and it definitely includes everything, such as the house.

I mean, if your parents had no kids, do you really think they would have a 4 or 5 bedroom house to themselves unless they were filthy rich.

Plus family cars and things like that.

It adds up bigtime.

448,000 over 20 years is 22,400 per year, so it's not that out of the question when you include a portion of the mortage payments add to the tally.
 
Then add the benefit of the capital improved value of a house over 20 years being serviced by the said mortgage, plus, the assumption of increased salaries. NPV or FV, don't know the purpose of the stat.
We need to improve our fertility rate.
 
Originally posted by ozzult
I've heard of averages like this before, and it definitely includes everything, such as the house.
Click to expand...

As the capital gain on a 4/5 bedroom house would be much greater than a 2/3 bedroom house over 20 years then arguably having kids has been a wealth creating decision
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