Babies and Families

How Much Do Kids Cost?

You can't measure the worth of a child. Their love, their energy and the joy they bring are worth every sacrifice. But the truth is that having a child is also expensive and requires planning.

A Walk in the Park:
The Cost of Raising Children

Caring for a child is one of life's greatest gifts. It's also one of life's greatest responsibilities. Not only will you spend your time trying to ensure they grow up to become strong, caring individuals, but you'll also spend your resources trying to ensure they have every opportunity possible. The financial cost of having children cannot be understated. From the cost of health care to the cost of education, your child may likely be the single biggest investment you ever make.

Managing the Cost of Raising a Child

There are many resources online to help you learn to manage what you have and build for the future, and we've taken the time to pull together some of our own articles to help. Here are just a few quick links to get you started:

This video illustrates the costs associated with raising a child from birth to age 18 and even on to college. Yes, the numbers can be overwhelming in aggregate. But there are strategies to help you increase your savings, reduce expenses and even protect future earnings. At Protective Life Insurance Company, our goal is to focus your attention on being prepared for the unexpected. In helping you manage this financial responsibility we provide tools to help you assess your individual goals and insurance needs.

 

 

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What Does it Cost to Raise a Child?

We all want the best for our children. Whether they're five or 15, we desperately want to help them learn, grow and take advantage of the opportunities available to them. There's a lot in this life that we can't control, but when it comes to planning for our children's futures, there's a lot you can do to be proactive. How much does it cost to raise a child and to give them these opportunities? This video from Protective Life outlines the average cost of raising a child for 18 years, including categories for major items that you'll need to pay for as your children grow. And while these are averages and your actual costs may vary based on things like lifestyle, location and the number of kids you have, the bottom line is that it's going to be expensive. Plan now, build a financial savings plan and you can better manage these costs as they come. At Protective Life, we have tools online that can help you make a budget, learn how to plan for college, and protect the future even if you're not around to provide for your family. The cost of raising a child can be overwhelming. But it doesn't have to be that way. Our best recommendation is just to start with a plan and to work that plan. You may also want to get advice from a financial planner who can help you determine the costs and save for your specific needs. You'll be surprised at how making a financial plan for your child's tomorrow helps you enjoy life today.

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