Kids Are Really Expensive, Aren’t They? | MHFI 149

Having kids is a lifestyle change that has a big impact on our finances. But how much does parenthood really cost?

In this episode, Doug and Amberly explore the expected and unexpected costs that come with having children. They talk about the importance of budgeting and share some tips on how to shop wisely for new parents.

The (unexpected) costs of having kids

  • Health insurance and dental costs
  • Schooling and tuition
  • Are human parents and dog parents alike?
  • The do’s and don’ts of choosing a gift for new parents
  • Tips for navigating friendships as a parent
  • Amberly hosts FinTalks

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

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0:00 Intro

2:41 Budgeting and planning for kids

7:57 Is having children similar to dogs?

10:31 The cost of having kids

25:05 Children and health insurance

32:29 Why kids’ clothing is a terrible gift idea

36:33 As kids grow, so do their expenses

39:40 How to get free babysitting benefits

41:04 Why do parents count their baby’s age in months?!

42:34 Schooling and tuition expenses

46:47 Navigating friendships as a parent

52:10 Amberly is on FinTalks

53:22 Fin Talk’s retreat and Camp FI