Tick-Tactics

EVIDENCE SOURCES

Click these links to explore
the PROs, CONs, and UNSURE evidence for each topic

056. Having kids will ruin our financial freedom

  1. 1. Pro: Raising children can be expensive, potentially limiting disposable income and financial flexibility.
    CNBC: [Cost of Raising a Child]
    https://economistwritingeveryday.com/2022/09/07/the-cost-of-raising-a-child/
  2. 2. Con: Proper financial planning and budgeting can help manage the costs associated with having children, maintaining a degree of financial freedom.
    NerdWallet: [Budgeting for Kids]
    https://www.nerdwallet.com/article/finance/baby-budget-new-parents
  3. 3. Unsure: The financial impact of having children varies widely depending on individual circumstances, including income, location, and lifestyle choices.
    Investopedia: [Financial Impact of Children]
    https://www.investopedia.com/articles/personal-finance/090415/cost-raising-child-america.asp
  4. 4. Pro: Child-related expenses, such as education, healthcare, and childcare, can add up, significantly affecting a family’s finances.
    A: [Expenditures on Children]
    https://www.usda.gov/media/blog/2017/01/13/cost-raising-child
  5. 5. Con: Children bring immeasurable joy and fulfillment, which many parents feel outweighs the financial sacrifices.
    Psychology Today: [Parenting Joy]
    https://www.psychologytoday.com/us/blog/the-time-cure/201707/the-joys-parenting
  6. 6. Unsure: Considering both the emotional rewards and financial costs is essential when deciding whether to have children.
    The Balance: [Weighing the Costs and Benefits]
    https://www.sociologygroup.com/advantages-and-disadvantages-of-having-children/
  7. 7. Pro: Financial strain from having children can lead to stress and affect the overall quality of life for the family.
    American Psychological Association (APA): [Financial Stress]
    https://www.apa.org/news/podcasts/speaking-of-psychology/financial-stress
  8. 8. Con: Many parents find ways to adjust their spending and save money in other areas to accommodate the costs of raising children.
    U.S. News & World Report: [Saving Money with Kids]
    https://www.investopedia.com/personal-finance/10-tips-teach-your-child-save/
  9. 9. Unsure: Creating a financial plan and discussing expectations and responsibilities can help couples prepare for the financial impact of having children.
    Kiplinger: [Financial Planning for Parents]
    https://www.kiplinger.com/personal-finance/short-term-financial-planning-for-first-time-parents