Kids cost money. Everyone knows that. Whether you have a 5-year-old, or a 15-year-old, costs are involved. Jason over at WorkSaveLive, brought up the topic of being financially sound before having a child and making sure your savings can adequately provide. While I agree that having a sound financial plan before having children is a great idea, that’s not always how it happens. One can save until the cows come home, but most parents can attest to the fact that long after your kid turns 18, you’ll still be spending money on them.
In some cases, the kids start racking up fees the minute they enter the world. Yup, right at birth. See, my previous employer did provide health insurance which was awesome, because let’s face it: not all companies do. But, because of some florally arranged verbiage, aka super tiny fine print, any hospital stay requiring surgery and/or procedures, rendered us employees to cough up an extra $1500.
No that’s not a typo. $1500 smack-a-roos. Need your appendix out? $1500. Delivering your baby naturally or by c-section? $1500. Doesn’t matter why you’re in the hospital; you will be charged. And they want their payment as soon as you get home from the hospital. Along with the cards and flowers and well-wishes I received upon the birth of my daughter, I also received a bill. From my health insurance provider requiring immediate payment. For $1500. I was like, really? Right now, right this minute? I mean for crying out loud, I’m still changing bandages on my incisions over here.
The good news is that this payment requirement was made known to me enough in advance that we could sock that money away for that wonderful day when the pretty bill arrived in my mailbox. But my point is, even though I knew in advance to pay for that, once these babies start growing up into actual kids, you never know what you are going to end up paying for.
Are your kids going to have straight teeth or will they need braces? Will they be into ballet or are you going to be a soccer mom? Are they going to stay home and go to the local college, or will they be swayed by the bright lights of a big city college? These are things that as parents you just don’t know, until the question really presents itself. You never know what you will be paying for monetarily, until you are in the moment.
So parents, new parents, and soon-to-be parents, yes by all means, save your pennies, nickels, dimes, and quarters. If you are not yet a parent, don’t worry. Life has a way of working out and you’ll be fine. You’ll soon understand what you should spend money and what you shouldn’t. Oh, and read the fine print when it comes to your health insurance. Don’t let a ginormous hospital payment sneak up on you!