1 00:00:00,080 --> 00:00:02,960 Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt 2 00:00:03,040 --> 00:00:05,600 Speaker 1: and today we're asking the question how much do kids 3 00:00:05,800 --> 00:00:27,880 Speaker 1: really cost? That's right. This episode, we're gonna talk about 4 00:00:27,920 --> 00:00:30,600 Speaker 1: the cost of raising kids. We're gonna talk about everything 5 00:00:30,600 --> 00:00:33,480 Speaker 1: from cost of childbirth and baby stuff to the big 6 00:00:33,520 --> 00:00:35,760 Speaker 1: things that cost a lot of money. And we're gonna 7 00:00:35,800 --> 00:00:38,120 Speaker 1: ask some tough questions too when it comes to the 8 00:00:38,120 --> 00:00:40,960 Speaker 1: expenses that we put towards our kids. Yeah, Matt. And 9 00:00:41,000 --> 00:00:43,400 Speaker 1: part of the reason behind doing this episode is because 10 00:00:43,479 --> 00:00:45,360 Speaker 1: the government comes out with a study every so often 11 00:00:45,360 --> 00:00:47,880 Speaker 1: that lets us know how expensive it is to raise 12 00:00:47,920 --> 00:00:50,000 Speaker 1: a kid in this country, and usually the number just 13 00:00:50,000 --> 00:00:52,519 Speaker 1: seems astronomical. And so yeah, we'll get into what the 14 00:00:52,680 --> 00:00:55,040 Speaker 1: most recent number was and why we don't think it 15 00:00:55,200 --> 00:00:57,320 Speaker 1: actually costs that much money to raise a kid. Yeah, Joel, 16 00:00:57,400 --> 00:01:00,320 Speaker 1: But first I have a quick grocery or garden money 17 00:01:00,360 --> 00:01:02,360 Speaker 1: saving tip. You ready for it? You are the grocery master, 18 00:01:02,480 --> 00:01:04,200 Speaker 1: bring it. It's not me, it's my wife. I'm gonna 19 00:01:04,200 --> 00:01:06,280 Speaker 1: brag on her for a minute. So this afternoon she 20 00:01:06,440 --> 00:01:10,120 Speaker 1: spent about ten minutes snipping and pruning some herbs that 21 00:01:10,160 --> 00:01:12,800 Speaker 1: she purchased at the store. It's a plant in our garden. 22 00:01:13,000 --> 00:01:14,960 Speaker 1: She's doing that to root them so that we can 23 00:01:14,959 --> 00:01:17,120 Speaker 1: plant in the garden because it's spring now. And explain 24 00:01:17,120 --> 00:01:19,800 Speaker 1: to people what rooting me. Well, essentially, you take herbs 25 00:01:19,880 --> 00:01:21,319 Speaker 1: and you snip them, you bring them in a certain 26 00:01:21,400 --> 00:01:23,600 Speaker 1: way and you stick them in water and the root 27 00:01:23,720 --> 00:01:25,759 Speaker 1: roots will grow out of the herb and it can 28 00:01:25,800 --> 00:01:28,039 Speaker 1: grow into a plant if you plan it soon after, right, 29 00:01:28,080 --> 00:01:30,000 Speaker 1: that's right, And so she was doing this today with 30 00:01:30,040 --> 00:01:32,760 Speaker 1: the basil and some tie basil mint. We do it 31 00:01:32,800 --> 00:01:34,959 Speaker 1: all the time with green onion, but you can also 32 00:01:35,040 --> 00:01:37,720 Speaker 1: do it with lots of stuff like a regano, rosemary, 33 00:01:37,760 --> 00:01:41,080 Speaker 1: time sage. A lot of times those herbs at the 34 00:01:41,080 --> 00:01:44,240 Speaker 1: grocery store, you spend three bucks for a plastic container 35 00:01:44,520 --> 00:01:47,240 Speaker 1: and there's six sprigs of mint. Completely. But if you 36 00:01:47,280 --> 00:01:49,920 Speaker 1: plant mint in your yard, it'll grow like crazy because 37 00:01:49,960 --> 00:01:53,760 Speaker 1: mint is a weed. But it tastes so good delicious. 38 00:01:53,840 --> 00:01:56,120 Speaker 1: You're gonna mint juelip or something or more into the beer. 39 00:01:57,120 --> 00:01:59,480 Speaker 1: But yeah, that's a quick tip though, if you're into gardening, 40 00:01:59,760 --> 00:02:01,600 Speaker 1: like like we like to get into every now and then, 41 00:02:01,960 --> 00:02:04,640 Speaker 1: instead of going to the home depot or lows or 42 00:02:04,680 --> 00:02:07,640 Speaker 1: wherever and purchasing those herbs to plant, go to the 43 00:02:07,640 --> 00:02:09,519 Speaker 1: grocery store and take a few of the branches that 44 00:02:09,560 --> 00:02:11,320 Speaker 1: you don't end up cooking with are from a friend 45 00:02:11,360 --> 00:02:14,440 Speaker 1: who is growing someone's right, man, And yeah, that's a 46 00:02:14,440 --> 00:02:16,079 Speaker 1: good way to kind of kick start your herb garden. 47 00:02:16,440 --> 00:02:18,400 Speaker 1: Yeah that's great because, like you said, herbs at the 48 00:02:18,400 --> 00:02:21,399 Speaker 1: grocery store kind of get outrageously expensive, So grow your own. 49 00:02:21,560 --> 00:02:23,320 Speaker 1: But Matt, let's quickly tell folks to the beer that 50 00:02:23,360 --> 00:02:26,280 Speaker 1: we're gonna be drinking while we do today's show. And 51 00:02:26,360 --> 00:02:29,120 Speaker 1: this is another beer from Spindle Tap, second one this week. 52 00:02:29,400 --> 00:02:32,120 Speaker 1: Pretty excited about this one. It's called Heavy Hands and 53 00:02:32,160 --> 00:02:34,440 Speaker 1: it's a double I p A. This label is pretty cool, 54 00:02:35,280 --> 00:02:37,560 Speaker 1: like eight bit kind of graphics, which goes along with 55 00:02:37,639 --> 00:02:39,200 Speaker 1: kind of our intro music. Yeah, I mean it's it's 56 00:02:39,200 --> 00:02:42,280 Speaker 1: totally got the Nintendo Mike Tyson's punch out graphics on there, 57 00:02:42,280 --> 00:02:44,079 Speaker 1: and the in the dude instead of wearing boxing gloves, 58 00:02:44,080 --> 00:02:45,800 Speaker 1: he's got h he's got a little hops on his 59 00:02:45,840 --> 00:02:48,280 Speaker 1: on his hands instead of gloves. And that's for good 60 00:02:48,280 --> 00:02:50,520 Speaker 1: reason because this beer has a lot of hoppy goodness 61 00:02:50,520 --> 00:02:52,840 Speaker 1: in punch. I love it. Guess we'll talk more about 62 00:02:52,840 --> 00:02:54,799 Speaker 1: that at the end of the show. But onto the 63 00:02:54,840 --> 00:02:57,160 Speaker 1: subject at hand, Matt, Let's get into this how much 64 00:02:57,160 --> 00:03:00,400 Speaker 1: do kids really cost? And that study that I referenced 65 00:03:00,480 --> 00:03:02,680 Speaker 1: quickly at the beginning of the show is a federal 66 00:03:02,720 --> 00:03:04,919 Speaker 1: government study this show and the and the last time 67 00:03:04,960 --> 00:03:07,240 Speaker 1: they did this study was in two thousands seventeen, and 68 00:03:07,240 --> 00:03:09,960 Speaker 1: it showed that kids cost an average of two hundred 69 00:03:10,000 --> 00:03:13,840 Speaker 1: and thirty three thousand dollars from birth to age eighteen. 70 00:03:14,120 --> 00:03:17,440 Speaker 1: So that's before we're even talking about college. A kid 71 00:03:17,520 --> 00:03:19,040 Speaker 1: is gonna cost you pretty much a quarter of a 72 00:03:19,080 --> 00:03:22,640 Speaker 1: million dollars, which which is insane. That's thirteen thousand dollars 73 00:03:22,639 --> 00:03:25,359 Speaker 1: a year and a little over a thousand dollars a month, 74 00:03:25,760 --> 00:03:28,840 Speaker 1: and that's insane. Yeah. And I feel like every time 75 00:03:28,840 --> 00:03:31,440 Speaker 1: the study comes out, every year that it gets released, 76 00:03:31,639 --> 00:03:34,400 Speaker 1: it becomes water cooler talk like, wow, that's crazy, can 77 00:03:34,400 --> 00:03:37,240 Speaker 1: you believe it? And I feel like it's inflated. And 78 00:03:37,280 --> 00:03:39,800 Speaker 1: I feel like there are ways, Matt as parents, uh, 79 00:03:39,920 --> 00:03:43,280 Speaker 1: that we can lower the costs of having kids raising kids. 80 00:03:43,560 --> 00:03:45,920 Speaker 1: So we're gonna kind of get into that today. Yeah, 81 00:03:46,040 --> 00:03:48,160 Speaker 1: And so I mean that huge number, two thirty three 82 00:03:48,160 --> 00:03:51,480 Speaker 1: thousand dollars that does raise the question should folks consider 83 00:03:51,760 --> 00:03:54,040 Speaker 1: not having kids because they can't afford it, and that, 84 00:03:54,200 --> 00:03:57,080 Speaker 1: honestly is a really personal decision. But here's the thing. 85 00:03:57,120 --> 00:03:59,280 Speaker 1: If you do think you need to get your finances 86 00:03:59,320 --> 00:04:01,640 Speaker 1: in order before having kids, make sure that you consider 87 00:04:01,760 --> 00:04:05,080 Speaker 1: the rising cost of health care. Specifically, I'm thinking of 88 00:04:05,120 --> 00:04:08,000 Speaker 1: back when we had our first daughter, the cost of 89 00:04:08,200 --> 00:04:11,400 Speaker 1: my wife's oh B was thirty dollars for the This 90 00:04:11,480 --> 00:04:15,200 Speaker 1: is for the global maternity care for coverage. We recently checked, 91 00:04:15,280 --> 00:04:19,040 Speaker 1: and that has shot up to over Man, that's at 92 00:04:19,680 --> 00:04:22,520 Speaker 1: increase in four years. And the reason why I know 93 00:04:22,600 --> 00:04:24,480 Speaker 1: that is because we're pregnant. Yeah. I was gonna say, 94 00:04:24,480 --> 00:04:27,320 Speaker 1: I was gonna say, why were you doing this research, Matthew. Yeah, 95 00:04:27,480 --> 00:04:30,760 Speaker 1: so we're insane and we're having another baby. Man, so 96 00:04:30,839 --> 00:04:33,120 Speaker 1: this is gonna be number four for the UH for 97 00:04:33,240 --> 00:04:37,360 Speaker 1: your family. Yeah. And I don't know how one does that, 98 00:04:37,560 --> 00:04:39,599 Speaker 1: but I guess what you'll find out, right, Yeah, I 99 00:04:39,600 --> 00:04:42,479 Speaker 1: mean there's no choice at this point. Yeah, it's just 100 00:04:42,480 --> 00:04:44,400 Speaker 1: crazy that both of us that we're both having uh, 101 00:04:44,480 --> 00:04:46,880 Speaker 1: we're both having kids this year. It's gonna be a 102 00:04:47,320 --> 00:04:50,000 Speaker 1: wild year for for the how to money fam for sure. 103 00:04:50,000 --> 00:04:52,840 Speaker 1: He completely is. Yeah, I announced that that Emily is pregnant. 104 00:04:52,960 --> 00:04:54,880 Speaker 1: You know, a few episodes back, Matt, and congrats to 105 00:04:54,920 --> 00:04:56,920 Speaker 1: you and your family. I mean that's awesome. Yea, man, thanks, 106 00:04:57,080 --> 00:04:59,560 Speaker 1: I'm excited we'll have kids again close to the same age. 107 00:04:59,600 --> 00:05:01,640 Speaker 1: They get to kind of grow up together and learn 108 00:05:01,680 --> 00:05:03,920 Speaker 1: about their dad's weird money habits at the same time. 109 00:05:04,120 --> 00:05:06,760 Speaker 1: So true. Man, So back to the subject, which is 110 00:05:06,880 --> 00:05:09,400 Speaker 1: quite appropriate for for today, right, Yeah, I get announcement 111 00:05:09,440 --> 00:05:11,360 Speaker 1: for this episode. Yeah, so keep that in mind because 112 00:05:11,640 --> 00:05:14,320 Speaker 1: healthcare costs are going up. It goes without saying. And 113 00:05:14,360 --> 00:05:16,159 Speaker 1: I think we've mentioned this, Matt on a lot of 114 00:05:16,200 --> 00:05:19,680 Speaker 1: other shows. Having kids is priceless. It's completely worth it. 115 00:05:20,040 --> 00:05:21,960 Speaker 1: There's not much better. And I think that's why we're 116 00:05:22,080 --> 00:05:24,920 Speaker 1: launching into having a third and you're going, you're biting 117 00:05:24,920 --> 00:05:27,479 Speaker 1: the ball. You're going number four, dude. We're insane between 118 00:05:27,600 --> 00:05:29,560 Speaker 1: you guys and us, Like we're gonna have seven kids 119 00:05:29,600 --> 00:05:31,719 Speaker 1: between us. Yeah, it's crazy, that's not crazy. That's crazy. 120 00:05:31,800 --> 00:05:34,520 Speaker 1: But that's because it's really not normal. That's because it 121 00:05:34,560 --> 00:05:37,039 Speaker 1: really and truly is so much fun. They're they're a blast. 122 00:05:37,400 --> 00:05:40,680 Speaker 1: They keep you young, they teach you things, they make 123 00:05:40,720 --> 00:05:42,640 Speaker 1: you laugh. There's so much fun to be had with 124 00:05:42,720 --> 00:05:46,160 Speaker 1: young kids. You never stop laughing in such a worthwhile endeavor. 125 00:05:46,240 --> 00:05:48,920 Speaker 1: If you're if you're interested in having kids, don't forget 126 00:05:48,960 --> 00:05:51,000 Speaker 1: that they are also, at the same time, a financial 127 00:05:51,000 --> 00:05:53,520 Speaker 1: obligation that you'll be paying for for a lot of years. 128 00:05:53,760 --> 00:05:56,280 Speaker 1: They're not like the sticker shock two U thirty three 129 00:05:56,279 --> 00:05:58,719 Speaker 1: thousand dollar level costs. And so we're going to clarify 130 00:05:58,920 --> 00:06:01,080 Speaker 1: that as we go through this show. But we do 131 00:06:01,160 --> 00:06:03,159 Speaker 1: want to make sure that that we're able as parents 132 00:06:03,160 --> 00:06:06,440 Speaker 1: to strike that balance of being caring, loving and providing 133 00:06:06,760 --> 00:06:09,280 Speaker 1: while also not turning on the money's pigott and giving 134 00:06:09,320 --> 00:06:11,440 Speaker 1: them everything we want. And I think that that headline 135 00:06:11,480 --> 00:06:14,600 Speaker 1: number from the survey kind of can represent the way 136 00:06:14,600 --> 00:06:17,560 Speaker 1: that our society can tend to think of parenting. And 137 00:06:17,600 --> 00:06:20,279 Speaker 1: we make all these changes in order to become the 138 00:06:20,360 --> 00:06:23,679 Speaker 1: perfect parents and provide the perfect environment for our kids 139 00:06:23,680 --> 00:06:26,280 Speaker 1: to grow and thrive. And just like those herbs that 140 00:06:26,400 --> 00:06:29,160 Speaker 1: Kate planted, right, and she's growing into into little herb 141 00:06:29,320 --> 00:06:32,200 Speaker 1: trees or whatever you call um, yeah, herb tree, but 142 00:06:32,240 --> 00:06:34,480 Speaker 1: I think that's correct. I don't think that's right. But 143 00:06:34,480 --> 00:06:37,760 Speaker 1: but either way, we're propagating, right, yeah, yeah, yeah, exactly. 144 00:06:38,040 --> 00:06:39,880 Speaker 1: But in the same way that you're taking those little 145 00:06:39,880 --> 00:06:42,400 Speaker 1: herbs and you're and you're rooting them and you're going 146 00:06:42,400 --> 00:06:45,880 Speaker 1: them into something. Our kids need a proper environment to thrive, 147 00:06:46,040 --> 00:06:48,320 Speaker 1: but at the same time, they don't necessarily need a 148 00:06:48,440 --> 00:06:52,160 Speaker 1: money's pigot that that provides them this quintessentially perfect environment 149 00:06:52,200 --> 00:06:54,880 Speaker 1: to thrive. So, just like anything else, if you're thinking 150 00:06:54,920 --> 00:06:57,599 Speaker 1: about having kids or if you do have kids, finding 151 00:06:57,600 --> 00:07:00,320 Speaker 1: a balance of where you can cut back in where 152 00:07:00,320 --> 00:07:03,720 Speaker 1: it's necessary to spend those extra dollars, that's really important. 153 00:07:03,880 --> 00:07:05,440 Speaker 1: So I'm excited a mat. I think we're gonna have 154 00:07:05,480 --> 00:07:09,039 Speaker 1: some good stuff. So some good takeaways in this episode 155 00:07:09,240 --> 00:07:12,160 Speaker 1: as we go through the cost of really having a kid. Yeah, man, 156 00:07:12,160 --> 00:07:13,960 Speaker 1: And before we do, I want to touch real quickly 157 00:07:13,960 --> 00:07:16,800 Speaker 1: on that study, right. So it was last updated in Seen, 158 00:07:16,840 --> 00:07:19,600 Speaker 1: like you mentioned, and it showed a wide range of 159 00:07:19,640 --> 00:07:22,200 Speaker 1: how much people actually spent on a kid, and it 160 00:07:22,320 --> 00:07:24,720 Speaker 1: ranged from nine thousand dollars annually and this is from 161 00:07:24,720 --> 00:07:27,560 Speaker 1: a family that makes under sixty thou dollars a year 162 00:07:28,040 --> 00:07:30,680 Speaker 1: to over twenty three thousand dollars and this is from 163 00:07:30,680 --> 00:07:33,440 Speaker 1: a family that makes over a hundred and seven thousand dollars. 164 00:07:33,960 --> 00:07:36,680 Speaker 1: So what's so crazy about that is there's such range, right, Like, 165 00:07:37,080 --> 00:07:39,800 Speaker 1: what that tells me is that in reality, the family 166 00:07:39,840 --> 00:07:41,880 Speaker 1: that's only spending nine thousand dollars, well, that kid is 167 00:07:41,920 --> 00:07:44,960 Speaker 1: still thriving and surviving based on the report, Like that's 168 00:07:45,000 --> 00:07:47,080 Speaker 1: from a family that's making sixty dollars, Like that's how 169 00:07:47,120 --> 00:07:49,400 Speaker 1: much I make sometimes because we have a variable income, 170 00:07:49,440 --> 00:07:50,680 Speaker 1: so it just depends on the year. But I guess 171 00:07:50,720 --> 00:07:53,480 Speaker 1: what I'm getting at is the lifestyle creep families that 172 00:07:53,520 --> 00:07:56,320 Speaker 1: tend to earn more, they're also spending more on their 173 00:07:56,400 --> 00:07:59,080 Speaker 1: kid as well, which is understandable. We increased the spending 174 00:07:59,160 --> 00:08:01,480 Speaker 1: on lots of things, so it's interesting to see that 175 00:08:01,520 --> 00:08:03,680 Speaker 1: the amount that we spend on our kids is not 176 00:08:03,800 --> 00:08:06,640 Speaker 1: immune to that lifestyle creep and matt Before we get 177 00:08:06,720 --> 00:08:09,520 Speaker 1: into specific one off items that we can kind of 178 00:08:09,560 --> 00:08:12,080 Speaker 1: reduce our spending on and figure out how to lower 179 00:08:12,120 --> 00:08:14,920 Speaker 1: the costs of actually raising kids, well, let's talk about 180 00:08:14,920 --> 00:08:17,040 Speaker 1: that study just a little bit more. And it actually 181 00:08:17,040 --> 00:08:20,080 Speaker 1: showed that the most expensive categories when it comes to 182 00:08:20,160 --> 00:08:23,760 Speaker 1: raising kids were the same as the highest cost of 183 00:08:23,800 --> 00:08:27,600 Speaker 1: an average American monthly budget, and that was housing, food 184 00:08:27,640 --> 00:08:30,240 Speaker 1: and transportation and it makes sense that as you add 185 00:08:30,280 --> 00:08:34,160 Speaker 1: to your family, you're going to spend more in those areas. Yeah, 186 00:08:34,200 --> 00:08:35,880 Speaker 1: So it's just important to note that this isn't just 187 00:08:35,920 --> 00:08:41,120 Speaker 1: some ridiculous survey. It's really taking into account normal, everyday 188 00:08:41,160 --> 00:08:43,920 Speaker 1: spending categories for people and how those kind of tend 189 00:08:43,960 --> 00:08:46,800 Speaker 1: to inflate when you add children into the mix. Yeah, man, 190 00:08:46,840 --> 00:08:49,520 Speaker 1: I found that incredibly fascinating the fact that like those 191 00:08:49,559 --> 00:08:53,240 Speaker 1: three things specifically housing, food, and transportation made up almost 192 00:08:53,240 --> 00:08:56,520 Speaker 1: sixty two of the money that we spend on our kids, 193 00:08:56,760 --> 00:08:58,800 Speaker 1: which is pretty much in line, like you said, like 194 00:08:58,840 --> 00:09:01,680 Speaker 1: with what the average American and spends. The only top 195 00:09:01,720 --> 00:09:04,440 Speaker 1: category that stood out that was different that wouldn't be 196 00:09:04,640 --> 00:09:07,920 Speaker 1: considered in an average Americans budget is childcare or education. 197 00:09:08,360 --> 00:09:10,960 Speaker 1: Like you said, seeing those specific categories shows that there's 198 00:09:11,160 --> 00:09:13,559 Speaker 1: creep and there's sort of this inflation that happens when 199 00:09:13,600 --> 00:09:15,400 Speaker 1: you do have kids. And the fact is it doesn't 200 00:09:15,400 --> 00:09:17,319 Speaker 1: cost two hud three three thousand dollars to have a 201 00:09:17,400 --> 00:09:20,319 Speaker 1: kid because kids are really expensive. It costs the average 202 00:09:20,320 --> 00:09:22,560 Speaker 1: American two hundred and three three thousand dollars to have 203 00:09:22,600 --> 00:09:26,640 Speaker 1: a kid. Because the average American overspends, it seems that 204 00:09:26,640 --> 00:09:29,200 Speaker 1: that number is just indicative of the overall spending patterns 205 00:09:29,280 --> 00:09:32,160 Speaker 1: that we see in our country today, completely man, And 206 00:09:32,200 --> 00:09:34,440 Speaker 1: I think sometimes the sticker shock of seeing that survey 207 00:09:34,480 --> 00:09:37,160 Speaker 1: released every year kind of makes people think, well, why 208 00:09:37,200 --> 00:09:39,400 Speaker 1: do I want to have kids if it's so dangy expensive? 209 00:09:39,720 --> 00:09:41,160 Speaker 1: And so you know, I don't know you and I 210 00:09:41,200 --> 00:09:44,040 Speaker 1: obviously we think kids are great, and we're having more 211 00:09:44,080 --> 00:09:46,840 Speaker 1: of them because because we think it's awesome for our families, 212 00:09:46,880 --> 00:09:48,680 Speaker 1: and and the more of the marrier, we kind of 213 00:09:48,679 --> 00:09:50,360 Speaker 1: have that mindset. I don't know, all the worst stopping 214 00:09:50,360 --> 00:09:53,640 Speaker 1: after this, so maybe the more the merrier up until 215 00:09:53,640 --> 00:09:55,760 Speaker 1: the point. Yeah, but let's get into some of the 216 00:09:55,840 --> 00:09:58,559 Speaker 1: specific costs and then break down those major costs to 217 00:09:58,760 --> 00:10:02,040 Speaker 1: like housing, food, and childcare and transportation. We'll get to 218 00:10:02,080 --> 00:10:13,360 Speaker 1: that right after the break. All right, Joe, let's go 219 00:10:13,360 --> 00:10:15,680 Speaker 1: ahead and start at the very beginning. We're gonna start 220 00:10:15,679 --> 00:10:17,880 Speaker 1: at childbirth. Do you want to give your birth story 221 00:10:17,920 --> 00:10:21,040 Speaker 1: real quick? Like? No, I do not wait my personal birth. 222 00:10:21,160 --> 00:10:22,559 Speaker 1: What was it like a dark, stormy night when you 223 00:10:22,559 --> 00:10:24,880 Speaker 1: came out of the womb? Yeah? I don't remember. Sorry, Okay, 224 00:10:25,280 --> 00:10:27,280 Speaker 1: there's a reason that babies don't remember that. That's true. 225 00:10:27,559 --> 00:10:30,360 Speaker 1: And so the cost honestly, it varies by state, and 226 00:10:30,440 --> 00:10:33,760 Speaker 1: the average vaginal delivery is between five and ten thousand 227 00:10:33,840 --> 00:10:37,200 Speaker 1: dollars depending on where you live. For me personally, like, 228 00:10:37,240 --> 00:10:39,839 Speaker 1: the most affordable birth that we had for one of 229 00:10:39,880 --> 00:10:42,240 Speaker 1: our daughters was five thousand dollars that we had to 230 00:10:42,280 --> 00:10:44,800 Speaker 1: pay out of pocket. And being self employed, this is 231 00:10:44,920 --> 00:10:47,960 Speaker 1: that's obviously a huge disadvantage when it comes to healthcare costs. 232 00:10:48,240 --> 00:10:50,360 Speaker 1: But the best deal that we've gotten was five thousand 233 00:10:50,400 --> 00:10:52,560 Speaker 1: dollars when we did a pretty good job planning. The 234 00:10:52,600 --> 00:10:56,079 Speaker 1: worst deal that we got was paying around eleven thousand dollars, 235 00:10:56,120 --> 00:10:57,959 Speaker 1: and that was because we were told that it was 236 00:10:58,000 --> 00:11:00,760 Speaker 1: going to be more affordable if we pay hash upfront 237 00:11:01,040 --> 00:11:03,520 Speaker 1: and kind of get the discounted self pay rate. Dude, 238 00:11:03,800 --> 00:11:06,680 Speaker 1: that did not work out for us, no joke. Over 239 00:11:06,720 --> 00:11:09,400 Speaker 1: eleven thou dollars and that might work out for you, 240 00:11:09,480 --> 00:11:12,959 Speaker 1: but for us specifically, we had some additional expenses associated 241 00:11:13,000 --> 00:11:15,600 Speaker 1: with that birth, over eleven thollars to have a baby. 242 00:11:15,840 --> 00:11:17,880 Speaker 1: That was a lot for us. Yeah, there's no refund 243 00:11:17,920 --> 00:11:21,080 Speaker 1: policy either, so so much of it depends on the 244 00:11:21,120 --> 00:11:24,120 Speaker 1: insurance plan that you have. Certainly, the out of pocket 245 00:11:24,200 --> 00:11:27,000 Speaker 1: costs that you're going to incur when having a child 246 00:11:27,480 --> 00:11:30,400 Speaker 1: depends greatly on the sort of insurance that you have, 247 00:11:30,840 --> 00:11:34,079 Speaker 1: So if you are doing upfront self pay cash, that's 248 00:11:34,120 --> 00:11:35,920 Speaker 1: gonna be a totally different thing, right, Matt. And for 249 00:11:36,000 --> 00:11:38,920 Speaker 1: the folks out there with employer provided coverage, that's gonna 250 00:11:39,000 --> 00:11:41,920 Speaker 1: vary to to UH to a large degree based on 251 00:11:41,920 --> 00:11:46,120 Speaker 1: how your insurance company works with in network providers and 252 00:11:46,200 --> 00:11:49,800 Speaker 1: what percentage of your overall healthcare costs your employer chips in. 253 00:11:50,240 --> 00:11:52,160 Speaker 1: The average price of both of our girls was right 254 00:11:52,200 --> 00:11:55,160 Speaker 1: around three thousand dollars. Fortunately, we have an f s 255 00:11:55,240 --> 00:11:57,040 Speaker 1: A through work, and so I would Yeah, that's one 256 00:11:57,080 --> 00:11:58,719 Speaker 1: thing that I want to recommend to folks is if 257 00:11:58,760 --> 00:12:01,400 Speaker 1: you do have an f s A, to max out 258 00:12:01,559 --> 00:12:03,880 Speaker 1: r f s A for the year that you're planning 259 00:12:03,880 --> 00:12:06,720 Speaker 1: on having a kid, and that will at least save 260 00:12:06,800 --> 00:12:09,840 Speaker 1: you taxes on that money that you're going to to 261 00:12:09,880 --> 00:12:12,760 Speaker 1: pay for the birth of that child. So that's super helpful. Yeah, man, 262 00:12:12,800 --> 00:12:15,200 Speaker 1: get that discount. And for us, for baby number four, 263 00:12:15,360 --> 00:12:16,719 Speaker 1: we are actually, for the first time, I'm going to 264 00:12:16,760 --> 00:12:18,760 Speaker 1: be delivering at a birth center. So in the past 265 00:12:18,880 --> 00:12:21,240 Speaker 1: we've always gone to a hospital with the O B 266 00:12:21,440 --> 00:12:23,400 Speaker 1: that was associated with that hospital, and so you know 267 00:12:23,400 --> 00:12:25,760 Speaker 1: they had an office there as well. But with a 268 00:12:25,760 --> 00:12:27,800 Speaker 1: birth center, you don't go to the hospital. You give 269 00:12:27,800 --> 00:12:30,400 Speaker 1: birth at the birth center and that's where the midwives are. 270 00:12:30,760 --> 00:12:32,240 Speaker 1: It's off the beaten path a little bit. It's a 271 00:12:32,240 --> 00:12:35,040 Speaker 1: little more, it's a little crunchy, it's little granola. But yeah, 272 00:12:35,080 --> 00:12:37,600 Speaker 1: that's how we roll. And there's certainly some cost savings 273 00:12:37,640 --> 00:12:40,079 Speaker 1: associated with that as well. Because this baby was a 274 00:12:40,120 --> 00:12:42,600 Speaker 1: little bit more of a surprise. We're in a situation 275 00:12:42,679 --> 00:12:45,679 Speaker 1: to where we didn't have the best insurance set up 276 00:12:45,720 --> 00:12:48,719 Speaker 1: for for this year to have a baby, and so 277 00:12:48,840 --> 00:12:51,560 Speaker 1: again we're gonna be paying out of pocket cash only 278 00:12:51,880 --> 00:12:53,960 Speaker 1: where our health coverage isn't gonna kick in, and so 279 00:12:54,000 --> 00:12:57,440 Speaker 1: we're getting a cash rate and that's gonna include everything 280 00:12:57,480 --> 00:12:59,200 Speaker 1: there at the birth center. And their way that they're 281 00:12:59,200 --> 00:13:00,840 Speaker 1: able to keep cost down is that you don't have 282 00:13:00,880 --> 00:13:03,920 Speaker 1: a separate O B charge plus the hospital charge. Since 283 00:13:03,960 --> 00:13:06,360 Speaker 1: the care and the delivery are both happening at the 284 00:13:06,360 --> 00:13:08,520 Speaker 1: birth center, you basically are able to take those two 285 00:13:08,559 --> 00:13:10,600 Speaker 1: expenses and roll them into one. I thought you were 286 00:13:10,600 --> 00:13:12,400 Speaker 1: considering a home birth map. Now you don't want to 287 00:13:12,760 --> 00:13:14,280 Speaker 1: wanna go that route. You know you, and I know 288 00:13:14,600 --> 00:13:17,920 Speaker 1: somebody who actually did that. Very impressive, very impressive, And 289 00:13:18,000 --> 00:13:20,080 Speaker 1: there's no way my life or I would actually be 290 00:13:20,120 --> 00:13:22,240 Speaker 1: into that. Freaked me out, man, same here, a little 291 00:13:22,240 --> 00:13:24,679 Speaker 1: a little frightening, right, yeah, So make sure to at 292 00:13:24,720 --> 00:13:27,160 Speaker 1: least know your options, whether a birthing center is a 293 00:13:27,160 --> 00:13:29,840 Speaker 1: better option for you, know what kind of insurance you have, 294 00:13:30,160 --> 00:13:32,559 Speaker 1: and whether you need to call around and negotiate upfront 295 00:13:32,760 --> 00:13:36,440 Speaker 1: cash prices. And also if you have recently given birth 296 00:13:36,480 --> 00:13:38,920 Speaker 1: and you're starting to get hospital bills in the mail, 297 00:13:39,400 --> 00:13:42,280 Speaker 1: make sure to call in and reach out to someone 298 00:13:42,480 --> 00:13:46,080 Speaker 1: in the financial assistance department of that hospital. Many many 299 00:13:46,160 --> 00:13:49,840 Speaker 1: hospitals are nonprofit entities, and so often they will forgive 300 00:13:49,880 --> 00:13:51,920 Speaker 1: a certain amount of the costs that you've incurred for 301 00:13:52,000 --> 00:13:54,560 Speaker 1: the costs of the birth based on your income level. 302 00:13:54,640 --> 00:13:57,120 Speaker 1: So it's worth talking to someone in that department to 303 00:13:57,280 --> 00:13:59,440 Speaker 1: see if you qualify, yeah or not even based on 304 00:13:59,480 --> 00:14:01,760 Speaker 1: your income. Man. So we had firsthand experience with this 305 00:14:02,040 --> 00:14:04,600 Speaker 1: with the eleven thousand dollar birth that I mentioned earlier. 306 00:14:04,880 --> 00:14:08,360 Speaker 1: Since that was self pay, we were billed directly and 307 00:14:08,440 --> 00:14:12,600 Speaker 1: the in enthusiologist send us a bill for which was 308 00:14:12,720 --> 00:14:15,840 Speaker 1: a nice surprise. And I did exactly that. I called 309 00:14:15,880 --> 00:14:18,920 Speaker 1: them up and it was an individual group, and just 310 00:14:18,960 --> 00:14:20,760 Speaker 1: by spending five minutes on the phone with him, they 311 00:14:20,840 --> 00:14:24,400 Speaker 1: knocked off five bucks, no joke, five minutes, five bucks, 312 00:14:24,920 --> 00:14:27,520 Speaker 1: and they were basically expecting me to go ahead and 313 00:14:27,520 --> 00:14:28,840 Speaker 1: pay that. But I kind of stuck on the phone 314 00:14:28,880 --> 00:14:30,760 Speaker 1: for another ten minutes, just saying if there's any way 315 00:14:30,800 --> 00:14:32,720 Speaker 1: I could get any more money off, and they knocked 316 00:14:32,760 --> 00:14:34,800 Speaker 1: another five bucks off. Man, I got that bill from 317 00:14:34,800 --> 00:14:39,200 Speaker 1: twenty down to by spending fifteen minutes on the phone. 318 00:14:39,280 --> 00:14:41,280 Speaker 1: You sound like a guy Coo commercial for hanging with 319 00:14:41,320 --> 00:14:44,000 Speaker 1: your antithesiologist. It was one of my proudest moments of 320 00:14:44,200 --> 00:14:46,440 Speaker 1: getting a deal in and negotiating down to price. But 321 00:14:46,440 --> 00:14:49,240 Speaker 1: but yeah, sometimes it doesn't even take you being in 322 00:14:49,240 --> 00:14:51,800 Speaker 1: a hardship program or something that's income based. It just 323 00:14:51,840 --> 00:14:54,840 Speaker 1: takes giving them a call and telling them your situation. Alright, Matt, 324 00:14:54,880 --> 00:14:57,160 Speaker 1: now you get the baby in arms and take taking 325 00:14:57,200 --> 00:14:59,720 Speaker 1: that baby home. Well, you're gonna need baby stuff. You 326 00:14:59,720 --> 00:15:02,440 Speaker 1: know what car seats, and you're gonna need diapers and 327 00:15:02,480 --> 00:15:04,160 Speaker 1: all that kind of stuff. So let's talk a little 328 00:15:04,160 --> 00:15:06,600 Speaker 1: bit about that. Specifically. When it comes to diapers, I 329 00:15:06,600 --> 00:15:08,400 Speaker 1: feel like that's one of the main things that people 330 00:15:08,400 --> 00:15:11,000 Speaker 1: think about. Diapers are really expensive. And you mentioned at 331 00:15:11,000 --> 00:15:14,280 Speaker 1: one point in a recent episode that diapers were in 332 00:15:14,360 --> 00:15:16,240 Speaker 1: your grocery budget and they were kind of killing your 333 00:15:16,240 --> 00:15:18,440 Speaker 1: grocery budget to a certain extent, And I feel like 334 00:15:18,440 --> 00:15:20,040 Speaker 1: that's the case for a lot of folks. Diapers can 335 00:15:20,080 --> 00:15:23,800 Speaker 1: get really incredibly expensive quickly. And so Emily and I 336 00:15:23,840 --> 00:15:26,560 Speaker 1: we did cloth diapers for the first baby, and also 337 00:15:26,600 --> 00:15:29,000 Speaker 1: we did it for our second child as well, and 338 00:15:29,080 --> 00:15:30,640 Speaker 1: we kind of petered out though towards the end. We 339 00:15:30,720 --> 00:15:33,040 Speaker 1: kind of got tired of doing the cloth diapers, kind 340 00:15:33,040 --> 00:15:36,160 Speaker 1: of pooped out there we go. I like it, I 341 00:15:36,200 --> 00:15:38,440 Speaker 1: like it, Yeah, we we we did kind of. Uh 342 00:15:38,880 --> 00:15:41,840 Speaker 1: so we're hoping to kind of revamp the cloth diapers 343 00:15:41,920 --> 00:15:44,800 Speaker 1: on baby number three. They're certainly not as much of 344 00:15:44,800 --> 00:15:46,520 Speaker 1: a pain as they used to be, you know, back 345 00:15:46,520 --> 00:15:48,480 Speaker 1: in the back in the day, where they're essentially just 346 00:15:48,520 --> 00:15:52,080 Speaker 1: held on by a clothes pin with like the swaddle 347 00:15:52,080 --> 00:15:54,880 Speaker 1: wrapped around them. Yeah, exactly exactly. So, yeah, they're they're 348 00:15:54,880 --> 00:15:57,960 Speaker 1: not quite as bad as that. They've certainly improved to 349 00:15:58,000 --> 00:16:01,080 Speaker 1: a great degree. But you're doing laundry every single day 350 00:16:01,240 --> 00:16:03,920 Speaker 1: with cloth diapers because there's just a lot of pooh, 351 00:16:04,160 --> 00:16:07,560 Speaker 1: and so if you're willing to kind of suffer through that, 352 00:16:07,880 --> 00:16:10,200 Speaker 1: it can be a big monetary payoff. Oh yeah, it's 353 00:16:10,200 --> 00:16:13,080 Speaker 1: a substantial cost savings. I remember crunching the numbers with 354 00:16:13,120 --> 00:16:15,160 Speaker 1: our first daughter because we were in the same boat, 355 00:16:15,280 --> 00:16:16,680 Speaker 1: you know, we were trying to find a way to 356 00:16:16,760 --> 00:16:19,240 Speaker 1: save as much money as possible. And the upfront cost 357 00:16:19,320 --> 00:16:21,560 Speaker 1: is more when it comes to cloth diapers, but in 358 00:16:21,600 --> 00:16:24,400 Speaker 1: the long term it's significantly more affordable. And there's some 359 00:16:24,440 --> 00:16:26,120 Speaker 1: great breakdowns out there on the web that take into 360 00:16:26,120 --> 00:16:28,680 Speaker 1: account the cost of the diapers, the cost of utility, 361 00:16:28,720 --> 00:16:32,000 Speaker 1: the cost of water and detergent. All those things taken 362 00:16:32,000 --> 00:16:35,080 Speaker 1: together are still much much more affordable than the cost 363 00:16:35,120 --> 00:16:37,920 Speaker 1: of disposable diapers over the same period of time. Yeah, 364 00:16:37,960 --> 00:16:40,560 Speaker 1: and quickly, if you are looking to do cloth diapers, 365 00:16:40,600 --> 00:16:43,920 Speaker 1: there are all sorts of used clothing stores. Used baby 366 00:16:43,920 --> 00:16:45,760 Speaker 1: clothing in particular is a way to go, and you 367 00:16:45,760 --> 00:16:49,040 Speaker 1: can find used diapers there as well. And if they've 368 00:16:49,040 --> 00:16:52,440 Speaker 1: been bleached and and clean thoroughly, used cloth diapers are 369 00:16:52,480 --> 00:16:54,480 Speaker 1: actually not a bad purchase. And so when it comes 370 00:16:54,480 --> 00:16:57,880 Speaker 1: to car seats, there are some completely safe and affordable 371 00:16:57,920 --> 00:17:01,360 Speaker 1: car seats out there as low as four bucks right now. 372 00:17:01,360 --> 00:17:04,639 Speaker 1: I looked today on Amazon uh and up to you 373 00:17:04,680 --> 00:17:06,239 Speaker 1: can spend a ton of money on like the one 374 00:17:06,280 --> 00:17:08,960 Speaker 1: that comes from Italy spent three fifty bucks. There's a 375 00:17:09,000 --> 00:17:11,960 Speaker 1: huge range of options out there for you, and there's 376 00:17:12,000 --> 00:17:14,399 Speaker 1: other options to consider to like maybe borrowing our friends 377 00:17:14,440 --> 00:17:16,280 Speaker 1: if you know that they hadn't been in an accident, 378 00:17:16,680 --> 00:17:18,120 Speaker 1: they know that they want to hang onto that seat 379 00:17:18,119 --> 00:17:19,880 Speaker 1: for a while because they're gonna have another kid maybe 380 00:17:19,920 --> 00:17:21,960 Speaker 1: in a couple of years, Well put that thing to use. 381 00:17:22,040 --> 00:17:24,760 Speaker 1: Borrow that from a friend. Yeah. I actually bought a 382 00:17:24,920 --> 00:17:27,880 Speaker 1: used car seat for our first daughter, and I wrote 383 00:17:27,880 --> 00:17:29,440 Speaker 1: about it on the internet, and I kind of got 384 00:17:29,440 --> 00:17:32,240 Speaker 1: some flak for it, but I was totally cool. I 385 00:17:32,240 --> 00:17:35,359 Speaker 1: bought one in the neighborhood from someone that honestly not 386 00:17:35,400 --> 00:17:37,560 Speaker 1: even someone I met before that day, but they were 387 00:17:37,600 --> 00:17:39,560 Speaker 1: in the neighborhood. They were super local, and I talked 388 00:17:39,600 --> 00:17:41,920 Speaker 1: to them, and so I was comfortable buying that car 389 00:17:41,960 --> 00:17:44,359 Speaker 1: seat used. It was most important to me was that 390 00:17:44,359 --> 00:17:46,760 Speaker 1: that car seat was in date, that they told me 391 00:17:46,800 --> 00:17:48,720 Speaker 1: that it had not been in an accident, and that 392 00:17:48,840 --> 00:17:50,800 Speaker 1: it was a well reviewed car seat as opposed to 393 00:17:50,880 --> 00:17:53,080 Speaker 1: buying the the cheapest one that I could buy online, 394 00:17:53,320 --> 00:17:57,040 Speaker 1: buying a really well reviewed one that was less expensive 395 00:17:57,040 --> 00:17:58,800 Speaker 1: because I was able to buy it used. And you 396 00:17:58,800 --> 00:18:00,919 Speaker 1: mentioned in date, and what you mean by that is 397 00:18:00,960 --> 00:18:03,800 Speaker 1: that car seats have an expiration date, which is kind 398 00:18:03,800 --> 00:18:05,399 Speaker 1: of this weird thing that they have. It's not like 399 00:18:05,400 --> 00:18:09,200 Speaker 1: it's a perishable food item or a beer. But yeah, 400 00:18:09,240 --> 00:18:11,120 Speaker 1: the fact is that there's dates on there, and it's 401 00:18:11,240 --> 00:18:14,120 Speaker 1: law that you can't use a car seat beyond that 402 00:18:14,200 --> 00:18:16,480 Speaker 1: expiration date. So obviously you want to make sure that 403 00:18:16,480 --> 00:18:18,320 Speaker 1: you take that into account. And by the way, on 404 00:18:18,359 --> 00:18:20,960 Speaker 1: the note of baby stuff, there are so many other 405 00:18:21,000 --> 00:18:24,119 Speaker 1: baby supplies that add to the cost of having a 406 00:18:24,200 --> 00:18:26,440 Speaker 1: kid when we buy them new and when we buy 407 00:18:26,480 --> 00:18:28,919 Speaker 1: the fancy stuff. And I think, especially if it's your 408 00:18:28,920 --> 00:18:31,080 Speaker 1: first kid, it's easy to think that you need to 409 00:18:31,119 --> 00:18:34,080 Speaker 1: get all acquire all these new items. But these new 410 00:18:34,119 --> 00:18:37,240 Speaker 1: baby items like a stroller or a crib, they lose 411 00:18:37,280 --> 00:18:40,560 Speaker 1: their value super quickly. It's very very similar to buying 412 00:18:40,600 --> 00:18:44,119 Speaker 1: a new car in how rapidly those items depreciate. And 413 00:18:44,160 --> 00:18:46,720 Speaker 1: if you had just bought something gently used, you would 414 00:18:46,800 --> 00:18:49,200 Speaker 1: have enjoyed it just as much. But you would have 415 00:18:49,240 --> 00:18:50,920 Speaker 1: saved a ton of money in the process. Yeah, it 416 00:18:50,920 --> 00:18:52,680 Speaker 1: still would have gotten the job done. Yeah. Plus, this 417 00:18:52,800 --> 00:18:54,639 Speaker 1: is baby stuff, right, It doesn't keep like that fresh 418 00:18:54,680 --> 00:18:56,480 Speaker 1: new out of the box smell for very long. Anyway. 419 00:18:56,760 --> 00:18:59,080 Speaker 1: I'm thinking of cribs too, man. There's an eight hundred 420 00:18:59,080 --> 00:19:01,199 Speaker 1: dollar crib out there that you can get that's really fancy, 421 00:19:01,359 --> 00:19:04,080 Speaker 1: really cool looking from West Elm. Or you can buy 422 00:19:04,119 --> 00:19:07,480 Speaker 1: the affordable crib that does a fantastic job, and you 423 00:19:07,480 --> 00:19:09,560 Speaker 1: can buy it used. Like we spent forty bucks on 424 00:19:09,600 --> 00:19:12,639 Speaker 1: a crib for our first daughter and we usually still alive. 425 00:19:12,720 --> 00:19:14,800 Speaker 1: She made it. Yes, not only did she, but our 426 00:19:14,840 --> 00:19:16,880 Speaker 1: two other daughters did as well. We used that crib 427 00:19:16,920 --> 00:19:19,000 Speaker 1: for three daughters and we haven't talked about it, but 428 00:19:19,000 --> 00:19:20,920 Speaker 1: I guess we're gonna use that for our fourth baby 429 00:19:20,960 --> 00:19:23,240 Speaker 1: as well. But there's just huge savings, like you said, Jill, 430 00:19:23,280 --> 00:19:25,199 Speaker 1: and buying used, all right, Matt. So let's get to 431 00:19:25,200 --> 00:19:28,080 Speaker 1: the four big categories that are the biggest influences in 432 00:19:28,080 --> 00:19:30,800 Speaker 1: how much a kid actually cost and then what you 433 00:19:31,000 --> 00:19:33,560 Speaker 1: can do to lower the costs in your life. The 434 00:19:33,600 --> 00:19:36,439 Speaker 1: first one is housing, and that, according to the survey, 435 00:19:36,680 --> 00:19:41,480 Speaker 1: is of that overall two dollar figure, Juel, And this 436 00:19:41,520 --> 00:19:43,840 Speaker 1: can kind of maybe be a confusing number because it's 437 00:19:43,880 --> 00:19:45,679 Speaker 1: not like you're building a house out back where you 438 00:19:45,720 --> 00:19:47,560 Speaker 1: have to pay a new mortgage on a house that 439 00:19:47,600 --> 00:19:49,639 Speaker 1: now your baby lives in. You think, oh, we already 440 00:19:49,640 --> 00:19:51,879 Speaker 1: have a house. But the way that the report calculated 441 00:19:51,880 --> 00:19:54,000 Speaker 1: this cost is they they figured out the cost of 442 00:19:54,040 --> 00:19:57,760 Speaker 1: an additional room on your house, and so certainly they 443 00:19:57,800 --> 00:20:00,440 Speaker 1: don't take into account things like a kitchen or bathrooms, 444 00:20:00,480 --> 00:20:02,879 Speaker 1: because you don't need more kitchens when you have a baby, 445 00:20:02,920 --> 00:20:05,359 Speaker 1: but you might need an additional room. So that's how 446 00:20:05,400 --> 00:20:08,560 Speaker 1: they figured out what these comparable cost of housing would be. 447 00:20:08,960 --> 00:20:11,440 Speaker 1: And a lot of folks feel that need for additional space, 448 00:20:11,520 --> 00:20:13,959 Speaker 1: But honestly, I think this is overblown, Like this might 449 00:20:14,000 --> 00:20:16,560 Speaker 1: be true for a lot of people, but it's it's 450 00:20:16,600 --> 00:20:18,800 Speaker 1: really not the case. Joel. You've got two daughters sharing 451 00:20:18,800 --> 00:20:21,360 Speaker 1: a room. We've got three girls together in the same room, 452 00:20:21,400 --> 00:20:23,800 Speaker 1: and that's worked out incredibly well. To think that some 453 00:20:23,880 --> 00:20:25,880 Speaker 1: families out there are thinking, oh, we've got three kids, 454 00:20:25,880 --> 00:20:28,000 Speaker 1: we need three additional rooms. I can see how the 455 00:20:28,040 --> 00:20:30,439 Speaker 1: cost of you know, raising a kid could skyrocket if 456 00:20:30,480 --> 00:20:33,200 Speaker 1: you're taking all those additional rooms into account. Matt. I 457 00:20:33,280 --> 00:20:34,760 Speaker 1: kind of grew up watching a little bit of a 458 00:20:34,760 --> 00:20:38,240 Speaker 1: little house on the prairie, and they those girls slept 459 00:20:38,240 --> 00:20:41,120 Speaker 1: on like a lofted hey kind of situation, right, So 460 00:20:41,560 --> 00:20:44,160 Speaker 1: I think they squeezed a bunch of kids into that 461 00:20:44,200 --> 00:20:46,520 Speaker 1: tiny house. And when you look at the way that 462 00:20:46,600 --> 00:20:48,600 Speaker 1: home sizes have grown in the United States over the 463 00:20:48,640 --> 00:20:51,480 Speaker 1: past forty years, they've grown in quite a big way. 464 00:20:51,760 --> 00:20:54,600 Speaker 1: And so to think that the current size of homes 465 00:20:55,160 --> 00:20:58,600 Speaker 1: is normal and is necessary, it's just crazy talk. It's 466 00:20:58,600 --> 00:21:01,119 Speaker 1: just it's just not in to any way that you 467 00:21:01,200 --> 00:21:04,399 Speaker 1: can cut back on your housing costs, any way that 468 00:21:04,480 --> 00:21:08,560 Speaker 1: you can put more kids sleeping in the same room, 469 00:21:08,600 --> 00:21:12,320 Speaker 1: in any way that you can delay moving from one 470 00:21:12,359 --> 00:21:15,520 Speaker 1: house to another in order to accommodate your growing family. 471 00:21:15,800 --> 00:21:18,080 Speaker 1: That's going to be a big boon to your finances 472 00:21:18,119 --> 00:21:20,720 Speaker 1: and it's going to really hold back that number, that 473 00:21:20,840 --> 00:21:23,480 Speaker 1: overall number they're gonna spend on the cost of really 474 00:21:23,520 --> 00:21:26,400 Speaker 1: raising a kid. Yeah, with babies and new kids come 475 00:21:26,440 --> 00:21:28,760 Speaker 1: a lot of stuff, and honestly, I think one of 476 00:21:28,800 --> 00:21:32,359 Speaker 1: the best ways to combat that is well, first to 477 00:21:32,400 --> 00:21:35,119 Speaker 1: not have as much stuff, but to organize that stuff. 478 00:21:35,440 --> 00:21:37,240 Speaker 1: And one of the best ways to stay put and 479 00:21:37,240 --> 00:21:39,280 Speaker 1: to make the house that you have make do and 480 00:21:39,320 --> 00:21:41,679 Speaker 1: work is to organize all that stuff. You know, you 481 00:21:41,720 --> 00:21:45,200 Speaker 1: can spend a few hundred dollars on organization and you 482 00:21:45,280 --> 00:21:47,840 Speaker 1: might think, wow, that's a lot of money to spend 483 00:21:47,840 --> 00:21:50,480 Speaker 1: on shelving and storage solutions. But when you compare that 484 00:21:50,520 --> 00:21:51,960 Speaker 1: to the amount of money that you could be saving, 485 00:21:52,000 --> 00:21:54,639 Speaker 1: like maybe even thousands and thousands of dollars because you're 486 00:21:54,640 --> 00:21:56,119 Speaker 1: able to stay put in the same house and not 487 00:21:56,119 --> 00:21:58,159 Speaker 1: get a new mortgage because you're forced to buy a 488 00:21:58,280 --> 00:22:00,520 Speaker 1: larger house, Well, that's gonna be a huge way to 489 00:22:00,560 --> 00:22:03,600 Speaker 1: save some money. And so food was the next major 490 00:22:03,720 --> 00:22:06,840 Speaker 1: line item in the study that we're referencing. So your 491 00:22:06,840 --> 00:22:08,600 Speaker 1: grocery budget is going to go up when you have 492 00:22:08,640 --> 00:22:11,119 Speaker 1: a kid, there's no preventing that, right, But the report 493 00:22:11,200 --> 00:22:14,040 Speaker 1: showed that on average, the percentage of food budgets spent 494 00:22:14,119 --> 00:22:16,440 Speaker 1: on kids was equal to that of adults. And Matt, 495 00:22:16,480 --> 00:22:19,439 Speaker 1: we've talked before about how your children actually kind of 496 00:22:19,440 --> 00:22:22,360 Speaker 1: eat more than your wife, So so that's true. Yeah, 497 00:22:22,359 --> 00:22:24,400 Speaker 1: this is totally true for us. So the best way 498 00:22:24,440 --> 00:22:26,920 Speaker 1: to keep your costs down is to not not feed 499 00:22:26,960 --> 00:22:29,360 Speaker 1: your kids, but to slim down your overall grocery bill. 500 00:22:29,600 --> 00:22:31,800 Speaker 1: And we have an episode episode thirty four where we 501 00:22:31,840 --> 00:22:34,679 Speaker 1: talked about that extensively, And there are a lot of 502 00:22:34,680 --> 00:22:37,000 Speaker 1: ways in which you can cut your grocery bill, but quickly, 503 00:22:37,080 --> 00:22:39,280 Speaker 1: just a couple of things. Shop at one of the 504 00:22:39,359 --> 00:22:42,080 Speaker 1: cheapest possible grocery stores, and that is all the If 505 00:22:42,080 --> 00:22:44,119 Speaker 1: you have an all D close by, that's gonna be 506 00:22:44,160 --> 00:22:46,160 Speaker 1: a great way for you to save money. No matter what. 507 00:22:46,520 --> 00:22:48,639 Speaker 1: The amount that it costs for me to eat is 508 00:22:48,640 --> 00:22:50,640 Speaker 1: about the same it costs for my daughters as well. 509 00:22:51,040 --> 00:22:52,919 Speaker 1: One of the tricks and making that work is to 510 00:22:52,960 --> 00:22:54,800 Speaker 1: make sure that your kids are eating one to one 511 00:22:54,960 --> 00:22:57,280 Speaker 1: with you as far as the actual food. What I 512 00:22:57,320 --> 00:23:00,639 Speaker 1: mean by that is to avoid kid branded food. There's 513 00:23:00,680 --> 00:23:05,160 Speaker 1: lots of puffs and foods that are geared specifically towards kids, 514 00:23:05,200 --> 00:23:07,720 Speaker 1: in particular when it comes to snacks, and you're paying 515 00:23:08,119 --> 00:23:12,600 Speaker 1: tons of money for puffed air. Basically it's like puffed 516 00:23:12,640 --> 00:23:14,439 Speaker 1: a with a little bit of flavoring in it. But 517 00:23:14,680 --> 00:23:17,480 Speaker 1: if you can stay away from those very expensive kid 518 00:23:17,560 --> 00:23:20,399 Speaker 1: treats and snacks and instead try to get them to 519 00:23:20,400 --> 00:23:22,680 Speaker 1: eat the real food that you're eating, like the actual 520 00:23:22,760 --> 00:23:25,840 Speaker 1: vegetables and the actual meats and grains and fruits. That 521 00:23:26,000 --> 00:23:28,600 Speaker 1: is such an important and key way to keep your 522 00:23:28,600 --> 00:23:31,240 Speaker 1: grocery budget and check. And honestly, for us, that's just 523 00:23:31,280 --> 00:23:33,160 Speaker 1: been a very meaningful way for us to eat together 524 00:23:33,160 --> 00:23:35,040 Speaker 1: as a family, Like we're all eating the same thing. 525 00:23:35,119 --> 00:23:37,359 Speaker 1: It's not as if the different kids have their own meals, 526 00:23:37,400 --> 00:23:40,320 Speaker 1: because it's just what they require, what they demand. Certainly 527 00:23:40,400 --> 00:23:43,879 Speaker 1: there's a lot of kids that might have special dietary requirements, 528 00:23:43,880 --> 00:23:45,680 Speaker 1: but beyond that, trying to get your kids eating the 529 00:23:45,720 --> 00:23:48,240 Speaker 1: same food that you're eating. Another way to lower the 530 00:23:48,280 --> 00:23:50,240 Speaker 1: cost of food in your life when you have a 531 00:23:50,320 --> 00:23:53,399 Speaker 1: kid is to stop eating out, especially after you have kids. 532 00:23:53,480 --> 00:23:55,200 Speaker 1: The more you eat out, the more it's going to 533 00:23:55,280 --> 00:23:58,239 Speaker 1: cost you. Grained, Yeah, what a kids eating Typically when 534 00:23:58,280 --> 00:24:00,720 Speaker 1: you're when you go out to eat, they're eating something 535 00:24:00,720 --> 00:24:02,680 Speaker 1: out the kids menu. It's a little bit cheaper than 536 00:24:02,760 --> 00:24:05,400 Speaker 1: the adult entree. But I'll say this, I remember growing 537 00:24:05,480 --> 00:24:09,359 Speaker 1: up and we we rarely rarely ate out, even fast food. 538 00:24:09,440 --> 00:24:12,640 Speaker 1: It just was so much more to stop at need 539 00:24:12,680 --> 00:24:14,760 Speaker 1: at McDonald's or Burger King or whatever. It was a 540 00:24:14,800 --> 00:24:17,040 Speaker 1: huge deal to do that. It was a completely huge deal. 541 00:24:17,240 --> 00:24:19,240 Speaker 1: We just didn't do it because it was so much 542 00:24:19,320 --> 00:24:21,400 Speaker 1: cheaper to eat at home, and so I think if 543 00:24:21,400 --> 00:24:24,320 Speaker 1: you weigh the costs of eating out, especially when you 544 00:24:24,359 --> 00:24:26,720 Speaker 1: have kids, the cost of eating at home just pales 545 00:24:26,760 --> 00:24:29,640 Speaker 1: in comparison. It's so much cheaper. And so yeah, when 546 00:24:29,640 --> 00:24:31,720 Speaker 1: you can cut that out. My wife and I we 547 00:24:31,800 --> 00:24:34,400 Speaker 1: like to go out for date night together when when 548 00:24:34,440 --> 00:24:36,159 Speaker 1: it's just the two of us, but we don't go 549 00:24:36,200 --> 00:24:38,639 Speaker 1: out to eat as a family very often because the 550 00:24:38,680 --> 00:24:41,840 Speaker 1: cost just adds up so quickly. And the third category 551 00:24:41,880 --> 00:24:45,600 Speaker 1: when it comes to expenses on children is childcare and education, 552 00:24:45,680 --> 00:24:48,480 Speaker 1: which takes about six of the total. And you know, 553 00:24:48,520 --> 00:24:50,679 Speaker 1: this is really hardest when both parents are working and 554 00:24:50,720 --> 00:24:54,840 Speaker 1: the kids are young. Dude. In some cities, in particular 555 00:24:54,920 --> 00:24:56,760 Speaker 1: up in the Northeast, it can cost up to eighteen 556 00:24:56,840 --> 00:24:59,480 Speaker 1: hundred dollars a month in childcare, which mean, I can't 557 00:24:59,480 --> 00:25:02,639 Speaker 1: even fathom. That's just such an unbelievable large amount of money. 558 00:25:02,880 --> 00:25:04,639 Speaker 1: And so some ways that you can try to reduce 559 00:25:04,720 --> 00:25:06,960 Speaker 1: that is when it comes to your childcare, like ask 560 00:25:07,040 --> 00:25:09,720 Speaker 1: for sibling discounts. A lot of times with daycares, that's 561 00:25:09,880 --> 00:25:11,760 Speaker 1: something that they offer, but they don't post it anywhere 562 00:25:11,840 --> 00:25:14,240 Speaker 1: and you don't get that discount unless you ask my 563 00:25:14,280 --> 00:25:17,200 Speaker 1: buddy Alex to just how that happen. He really asked 564 00:25:17,240 --> 00:25:20,120 Speaker 1: because he had another kid going into that same daycare 565 00:25:20,440 --> 00:25:23,000 Speaker 1: and off the second kid, but he wouldn't have known 566 00:25:23,000 --> 00:25:24,840 Speaker 1: if he didn't ask. Dude, that's a huge discount. It's 567 00:25:24,840 --> 00:25:27,119 Speaker 1: a huge discount of gas. But then look to family 568 00:25:27,119 --> 00:25:29,760 Speaker 1: as well, like our friends or grandparents, you know, relatives. 569 00:25:30,160 --> 00:25:32,359 Speaker 1: You know, what better way than to have actual family, 570 00:25:32,440 --> 00:25:34,360 Speaker 1: like actual blood take care of your kids for you, 571 00:25:34,680 --> 00:25:37,399 Speaker 1: and also consider a nanny. Shore that's a really affordable, 572 00:25:37,480 --> 00:25:40,879 Speaker 1: smart way to approach childcare with neighbors, with folks that 573 00:25:40,920 --> 00:25:42,960 Speaker 1: live close by to you, in particularly because you can 574 00:25:42,960 --> 00:25:44,880 Speaker 1: just take your kids over to their house and drop 575 00:25:44,960 --> 00:25:46,639 Speaker 1: them off when the nanny shows up over there, or 576 00:25:46,760 --> 00:25:49,920 Speaker 1: vice versa. When it comes to K through twelfth grade schooling, 577 00:25:50,240 --> 00:25:53,600 Speaker 1: different families place different priorities on kind of how they 578 00:25:53,680 --> 00:25:56,640 Speaker 1: want their kids to be educated. And private school though, 579 00:25:56,760 --> 00:25:59,280 Speaker 1: is going to be obviously the most expensive choice, and 580 00:25:59,359 --> 00:26:01,800 Speaker 1: this kind can become a contentious topic. So I don't 581 00:26:01,800 --> 00:26:03,520 Speaker 1: I don't want to hang out on your schooling choice 582 00:26:03,560 --> 00:26:05,760 Speaker 1: for long, but just know that, yeah, choosing a private 583 00:26:05,760 --> 00:26:09,639 Speaker 1: school is definitely the most expensive option, and maybe homeschooling 584 00:26:09,760 --> 00:26:11,919 Speaker 1: is a better option. But then, Matt, it kind of 585 00:26:11,920 --> 00:26:14,520 Speaker 1: gets into the factor of can a family afford to 586 00:26:14,520 --> 00:26:16,320 Speaker 1: have one of the parents stay at home and make 587 00:26:16,359 --> 00:26:19,040 Speaker 1: that a reality, So let's kind of get into that too. Yeah, Joe, 588 00:26:19,119 --> 00:26:21,320 Speaker 1: that's a huge consideration, right, Like you might think that 589 00:26:21,359 --> 00:26:23,520 Speaker 1: you can't quit, or like that you can't go part 590 00:26:23,520 --> 00:26:26,679 Speaker 1: time because your family need dr income, and certainly this 591 00:26:26,760 --> 00:26:29,680 Speaker 1: might be true, but make sure that you are factoring 592 00:26:29,720 --> 00:26:31,800 Speaker 1: in taxes that's being taken out of your page check. 593 00:26:31,880 --> 00:26:34,960 Speaker 1: Make sure that you're taking into account childcare costs. If 594 00:26:35,000 --> 00:26:37,680 Speaker 1: there's ways that you can save your family money by 595 00:26:37,720 --> 00:26:40,080 Speaker 1: not working, make sure that you're taking that into account 596 00:26:40,080 --> 00:26:42,240 Speaker 1: as well. I know for a lot of folks it 597 00:26:42,359 --> 00:26:44,919 Speaker 1: might be extremely important to be able to work outside 598 00:26:44,920 --> 00:26:47,639 Speaker 1: of the home. I know folks who the money that 599 00:26:47,640 --> 00:26:50,040 Speaker 1: they're earning from their job was only pretty much breaking 600 00:26:50,080 --> 00:26:52,199 Speaker 1: even with their childcare costs. But for them to have 601 00:26:52,240 --> 00:26:53,639 Speaker 1: some of that part time work, to be able to 602 00:26:53,680 --> 00:26:55,560 Speaker 1: get out of the house and to be a part 603 00:26:55,640 --> 00:26:58,359 Speaker 1: of a bigger organization and something that they really believed in, 604 00:26:58,720 --> 00:27:00,600 Speaker 1: was really important to them. So I don't want to 605 00:27:00,600 --> 00:27:02,280 Speaker 1: discount that at all. I know there are a lot 606 00:27:02,320 --> 00:27:04,960 Speaker 1: of folks who that's a tough decision. Then they've made 607 00:27:04,960 --> 00:27:07,280 Speaker 1: the best choice for them and their family. But what 608 00:27:07,320 --> 00:27:09,360 Speaker 1: I'm saying is, just make sure you're taking everything into 609 00:27:09,400 --> 00:27:12,040 Speaker 1: account when you're weighing the pros and cons of your 610 00:27:12,119 --> 00:27:15,359 Speaker 1: work and childcare. Yeah, and if one of the partners 611 00:27:15,359 --> 00:27:18,280 Speaker 1: does decide to stay at home, your income is of 612 00:27:18,320 --> 00:27:20,320 Speaker 1: course going to go down, But there are also ways 613 00:27:20,440 --> 00:27:23,480 Speaker 1: that a stay at home partner can save your family 614 00:27:23,560 --> 00:27:26,199 Speaker 1: money in a way that to working parents find it 615 00:27:26,280 --> 00:27:30,040 Speaker 1: really difficult to do. So. Looking after that food budget 616 00:27:30,040 --> 00:27:32,920 Speaker 1: becomes a whole lot easier if one spouse stays at home. 617 00:27:33,119 --> 00:27:35,880 Speaker 1: And also that spouse can use their skills and their 618 00:27:35,880 --> 00:27:38,639 Speaker 1: work experience to maybe earn some money on the side 619 00:27:38,840 --> 00:27:41,239 Speaker 1: while working at home, and it could even lead to 620 00:27:41,440 --> 00:27:44,080 Speaker 1: a side hustle that ends up paying off big time 621 00:27:44,119 --> 00:27:46,480 Speaker 1: in the long run. And the next big category that 622 00:27:46,480 --> 00:27:49,840 Speaker 1: we want to cover is transportation, which can take of 623 00:27:49,880 --> 00:27:53,119 Speaker 1: the total expenses. And the reason for this, honestly is 624 00:27:53,200 --> 00:27:55,320 Speaker 1: a lot of times folks are buying a new vehicle 625 00:27:55,440 --> 00:27:57,600 Speaker 1: because they want to make sure they have that safe car. 626 00:27:57,720 --> 00:28:00,439 Speaker 1: The fact is you can still find very safe and 627 00:28:00,680 --> 00:28:03,680 Speaker 1: very affordable cars that will fit your needs that are 628 00:28:03,840 --> 00:28:05,879 Speaker 1: at least five years old, meaning that you get a 629 00:28:05,960 --> 00:28:08,080 Speaker 1: huge break on the cost because you haven't taken that 630 00:28:08,160 --> 00:28:11,760 Speaker 1: hit in depreciation. I think, especially for new parents when 631 00:28:11,800 --> 00:28:15,359 Speaker 1: it comes to making purchases of a stroller or a 632 00:28:15,359 --> 00:28:17,920 Speaker 1: car seat, or or even something as expensive as a car, 633 00:28:18,359 --> 00:28:22,720 Speaker 1: the sort of safety billing becomes super important and almost 634 00:28:22,800 --> 00:28:25,680 Speaker 1: oftentimes too important. Can can I say that? Like where 635 00:28:25,680 --> 00:28:28,240 Speaker 1: where they value the safety rating of something and they're 636 00:28:28,240 --> 00:28:31,280 Speaker 1: willing to pay crazy amounts of money hand over fist 637 00:28:31,359 --> 00:28:33,800 Speaker 1: for for something that gets the highest safety rating, and 638 00:28:33,840 --> 00:28:36,600 Speaker 1: they feel like they need the newest, most up to 639 00:28:36,680 --> 00:28:40,080 Speaker 1: speed safety technology and so like, especially when you're talking 640 00:28:40,080 --> 00:28:42,520 Speaker 1: about a car, you are going to pay so much 641 00:28:42,560 --> 00:28:45,920 Speaker 1: more to have the latest, newest car that has the 642 00:28:45,960 --> 00:28:49,760 Speaker 1: most up to date safety features installed on it versus, 643 00:28:49,800 --> 00:28:51,800 Speaker 1: like you said, buying a car that is five, six, 644 00:28:51,840 --> 00:28:54,520 Speaker 1: seven years old, maybe even that is still well reviewed 645 00:28:54,520 --> 00:28:56,720 Speaker 1: when it comes to safety. We're not talking about buying 646 00:28:57,080 --> 00:29:00,000 Speaker 1: like some hootie. Yeah exactly, Yeah, yeah, You're not talking 647 00:29:00,040 --> 00:29:02,400 Speaker 1: about buying something that is a complete piece of junk. 648 00:29:02,800 --> 00:29:05,480 Speaker 1: In order to save as much money as humanly possible, 649 00:29:05,720 --> 00:29:07,920 Speaker 1: it's just important to note that when it comes to 650 00:29:08,080 --> 00:29:11,400 Speaker 1: buying things because of their safety writing, it's a losing 651 00:29:11,400 --> 00:29:14,200 Speaker 1: battle because who can afford to continually buy the most 652 00:29:14,280 --> 00:29:16,600 Speaker 1: up to date safety stuff. I mean, it's just it's 653 00:29:16,600 --> 00:29:18,960 Speaker 1: just not possible to stay completely up to speed on that. 654 00:29:19,160 --> 00:29:22,840 Speaker 1: And there are perfectly fine, perfectly safe car seats and 655 00:29:23,080 --> 00:29:26,000 Speaker 1: cars that are much more reasonably priced than the latest 656 00:29:26,040 --> 00:29:28,280 Speaker 1: and greatest. Yeah, Ji, so much of what I what 657 00:29:28,360 --> 00:29:31,160 Speaker 1: I'm sensing that you're talking about here is marketing that 658 00:29:31,360 --> 00:29:34,640 Speaker 1: is sort of praying on fear. You hear that, especially 659 00:29:34,720 --> 00:29:38,240 Speaker 1: in so much of advertising on radio and TV, and 660 00:29:38,280 --> 00:29:41,000 Speaker 1: it's like, keep your family safe, and you can only 661 00:29:41,040 --> 00:29:43,320 Speaker 1: do that by buying this product. And I just think 662 00:29:43,400 --> 00:29:45,840 Speaker 1: that's a false economy. Yeah, you gotta be wary anytime 663 00:29:45,880 --> 00:29:47,800 Speaker 1: you hear that, right, But at the same time, I 664 00:29:47,840 --> 00:29:50,360 Speaker 1: totally relate and I totally understand. I remember, as a 665 00:29:50,400 --> 00:29:53,040 Speaker 1: new parent with my very first baby, driving home from 666 00:29:53,040 --> 00:29:56,360 Speaker 1: the hospital on the Connector in downtown Atlanta. By the way, 667 00:29:56,400 --> 00:29:58,120 Speaker 1: the Connector, if you've never driven on it, I think 668 00:29:58,120 --> 00:30:01,200 Speaker 1: it's like fourteen lanes wide and ours or zipping by. 669 00:30:01,240 --> 00:30:03,400 Speaker 1: I've never driven so carefully in my life in the 670 00:30:03,440 --> 00:30:05,880 Speaker 1: far right lane just minding my own business and trying 671 00:30:05,920 --> 00:30:08,280 Speaker 1: to tell everyone like I was this close to put 672 00:30:08,280 --> 00:30:10,360 Speaker 1: my hazard lights on, you know, like I get that 673 00:30:10,640 --> 00:30:13,440 Speaker 1: in particular when you're a new parent. But one week later, 674 00:30:13,520 --> 00:30:16,280 Speaker 1: I'm just driving like I'm really driving, just like passing people. Well, 675 00:30:16,320 --> 00:30:19,000 Speaker 1: now we know how you normally drive. That's the truth. 676 00:30:19,280 --> 00:30:21,959 Speaker 1: But don't let that fear, especially early on, cause you 677 00:30:22,040 --> 00:30:24,920 Speaker 1: to make unwise purchases. And so that's the cost of 678 00:30:25,080 --> 00:30:28,080 Speaker 1: a specific vehicle, but there's just other expenses that this 679 00:30:28,120 --> 00:30:29,880 Speaker 1: report takes into account, just to wear and tear on 680 00:30:29,920 --> 00:30:32,719 Speaker 1: a vehicle, the cost of fuel and insurance, and so 681 00:30:32,840 --> 00:30:36,000 Speaker 1: consider other ways that you can keep your transportation costs down. 682 00:30:36,080 --> 00:30:38,400 Speaker 1: If you have children, try car pulling with the neighbor, 683 00:30:38,400 --> 00:30:40,640 Speaker 1: if you're going to the same daycare or Joel. In 684 00:30:40,680 --> 00:30:42,120 Speaker 1: our case, you and I we do a lot of 685 00:30:42,160 --> 00:30:46,200 Speaker 1: bike pulling, and I think that's a totally valid option 686 00:30:46,360 --> 00:30:48,560 Speaker 1: is to consider a cargo bike, which is going to 687 00:30:48,640 --> 00:30:51,560 Speaker 1: be much more affordable than any car out there. Cargo 688 00:30:51,600 --> 00:30:54,120 Speaker 1: bikes aren't for everyone, but come on, you gotta you 689 00:30:54,160 --> 00:30:55,800 Speaker 1: gotta give it a shot. Yeah, Matt, I feel like 690 00:30:55,800 --> 00:30:58,200 Speaker 1: we mentioned cargo bikes a fair amount on the show. 691 00:30:58,320 --> 00:31:00,640 Speaker 1: Every other episode, So let's keep this one short. Probably yeah, 692 00:31:00,680 --> 00:31:03,240 Speaker 1: but they're the best, all right. So we just tackled 693 00:31:03,240 --> 00:31:06,280 Speaker 1: the big four spending categories when it comes to how 694 00:31:06,360 --> 00:31:08,720 Speaker 1: much kids actually cost. Right out for the break, Let's 695 00:31:08,760 --> 00:31:11,760 Speaker 1: get to some additional questions you have to ask yourself 696 00:31:11,800 --> 00:31:14,760 Speaker 1: about your strategy when it comes to how you spend 697 00:31:14,760 --> 00:31:25,680 Speaker 1: money as a parent. Okay, we just talked about some 698 00:31:25,720 --> 00:31:27,120 Speaker 1: ways that you can say when it comes to the 699 00:31:27,320 --> 00:31:30,600 Speaker 1: big categories and expenses related to your kids, and so 700 00:31:30,760 --> 00:31:32,800 Speaker 1: right now, I want us to sort of ask ourselves 701 00:31:32,840 --> 00:31:35,600 Speaker 1: some bigger questions, right and so one, ask yourself, what 702 00:31:35,720 --> 00:31:38,760 Speaker 1: is it that you value The expenses associated with kids? 703 00:31:38,880 --> 00:31:40,840 Speaker 1: You know, more or less will reflect the kind of 704 00:31:40,880 --> 00:31:44,280 Speaker 1: expenses and spending that you have for yourself as an adult. 705 00:31:44,360 --> 00:31:46,400 Speaker 1: As a grown up, it's natural that the things that 706 00:31:46,440 --> 00:31:48,880 Speaker 1: we value for ourselves that we would value those things 707 00:31:48,880 --> 00:31:51,240 Speaker 1: for our kids as well. So sort of, like we 708 00:31:51,360 --> 00:31:53,440 Speaker 1: mentioned at the beginning of the episode, there are very 709 00:31:53,520 --> 00:31:56,080 Speaker 1: few expenses that just kind of pop out of nowhere 710 00:31:56,120 --> 00:31:58,360 Speaker 1: when we start adding kids to the equation. Most of 711 00:31:58,400 --> 00:32:01,160 Speaker 1: the time they are expenses that you already have in 712 00:32:01,200 --> 00:32:04,320 Speaker 1: your life, but you just see those expenses inflate once 713 00:32:04,320 --> 00:32:06,960 Speaker 1: you start adding kids. Yeah, I think when you reflect 714 00:32:07,000 --> 00:32:10,200 Speaker 1: on your your values when you have a family, Knowing 715 00:32:10,440 --> 00:32:13,840 Speaker 1: your values, knowing your priorities can help direct not only 716 00:32:13,840 --> 00:32:15,800 Speaker 1: how you spend your time with your family, but also 717 00:32:15,880 --> 00:32:18,520 Speaker 1: how you spend your money. And oftentimes, if we don't 718 00:32:18,600 --> 00:32:20,680 Speaker 1: have those things kind of called out, if we haven't 719 00:32:20,680 --> 00:32:23,040 Speaker 1: written them down, if we haven't made our priorities known, 720 00:32:23,040 --> 00:32:25,640 Speaker 1: if we haven't had that discussion with our significant other, 721 00:32:26,000 --> 00:32:28,880 Speaker 1: then it's so much easier for us to justify spending 722 00:32:29,040 --> 00:32:33,680 Speaker 1: in the short term, especially when it's spending for your kid, right, So, yeah, 723 00:32:33,720 --> 00:32:35,880 Speaker 1: I think it's an important exercise to kind of think 724 00:32:35,920 --> 00:32:38,680 Speaker 1: through what your values are and aligning you're spending with 725 00:32:38,680 --> 00:32:40,640 Speaker 1: those values. Matt, We've talked about that a lot, but 726 00:32:40,680 --> 00:32:43,400 Speaker 1: it's especially true when you have a kid. It's so 727 00:32:43,480 --> 00:32:46,200 Speaker 1: much easier to make those spur of the moment decisions 728 00:32:46,400 --> 00:32:49,520 Speaker 1: to spend money on them. It feels more sacrificial, less 729 00:32:49,520 --> 00:32:52,360 Speaker 1: self serving, but ultimately in the end, it's still not 730 00:32:52,440 --> 00:32:54,920 Speaker 1: good for your for your finances. And so yeah, doing 731 00:32:54,920 --> 00:32:57,280 Speaker 1: the do your due diligence ahead of time and thinking 732 00:32:57,320 --> 00:33:00,400 Speaker 1: through and and asking yourself that question is really important. 733 00:33:00,680 --> 00:33:02,640 Speaker 1: Jel and I can totally relate with that as well. Right, 734 00:33:02,680 --> 00:33:05,360 Speaker 1: who doesn't want their kids to have the very best 735 00:33:05,440 --> 00:33:09,200 Speaker 1: or to have opportunities that they didn't have as a kid. However, 736 00:33:09,440 --> 00:33:12,360 Speaker 1: I think some questions to ask ourselves are like one, 737 00:33:12,720 --> 00:33:15,080 Speaker 1: are you doing this for your kids or are you 738 00:33:15,120 --> 00:33:17,800 Speaker 1: actually doing this for yourself? So are you actually looking 739 00:33:17,840 --> 00:33:20,080 Speaker 1: at the needs of your kids or are you thinking 740 00:33:20,080 --> 00:33:22,240 Speaker 1: about things from the standpoint of how it makes you 741 00:33:22,320 --> 00:33:25,720 Speaker 1: feel as a parent. For instance, I think of secondhand clothes, right, 742 00:33:25,840 --> 00:33:28,640 Speaker 1: they work perfectly fine, but maybe as a parent you 743 00:33:28,680 --> 00:33:31,320 Speaker 1: want your kids to have a new hip clothes. Keep 744 00:33:31,360 --> 00:33:33,080 Speaker 1: that in mind. Are you doing it because there is 745 00:33:33,080 --> 00:33:35,800 Speaker 1: an actual need or because it's how you want to 746 00:33:35,840 --> 00:33:38,560 Speaker 1: be viewed, maybe how you want to be perceived by 747 00:33:38,600 --> 00:33:40,760 Speaker 1: others that you know, Yeah, Matt, we want to be 748 00:33:40,880 --> 00:33:43,960 Speaker 1: generous parents. We want our kids to feel loved and 749 00:33:44,000 --> 00:33:46,360 Speaker 1: cared for and that they're are part of a family 750 00:33:46,440 --> 00:33:49,120 Speaker 1: unit that cares for each other. Well, at least from 751 00:33:49,120 --> 00:33:51,000 Speaker 1: where I'm sitting though, the place I want to be 752 00:33:51,040 --> 00:33:54,000 Speaker 1: most generous with my kids is my time. And if 753 00:33:54,000 --> 00:33:57,640 Speaker 1: I'm spending my money on more articles of clothing, it 754 00:33:57,680 --> 00:33:59,800 Speaker 1: means I have less time because I have to spend 755 00:33:59,800 --> 00:34:02,680 Speaker 1: more that time making money, and if I can trade 756 00:34:02,680 --> 00:34:04,440 Speaker 1: off a little bit of that time that I would 757 00:34:04,440 --> 00:34:07,360 Speaker 1: spend working for dollars, then I can take that time 758 00:34:07,360 --> 00:34:09,200 Speaker 1: and invest it in my kids. And I think they 759 00:34:09,239 --> 00:34:12,120 Speaker 1: are so much better served by some extra time with 760 00:34:12,160 --> 00:34:15,120 Speaker 1: her dad than they are by having more clothes in 761 00:34:15,160 --> 00:34:17,600 Speaker 1: the closet. And based on personal experience, there are lots 762 00:34:17,640 --> 00:34:20,279 Speaker 1: of perfectly fine pieces of clothing that our girls get 763 00:34:20,360 --> 00:34:22,480 Speaker 1: and whether they're new or used, they don't really care. 764 00:34:22,680 --> 00:34:24,600 Speaker 1: They don't want to wear half of them anyway, and 765 00:34:24,640 --> 00:34:26,640 Speaker 1: so that just becomes an issue when you're a parent 766 00:34:26,680 --> 00:34:28,680 Speaker 1: and you're like, man, I just spent like fifteen dollars 767 00:34:28,719 --> 00:34:31,600 Speaker 1: on this shirt or jacket or whatever it is, and 768 00:34:31,680 --> 00:34:33,800 Speaker 1: your kid doesn't want to wear it. That's a pain 769 00:34:33,920 --> 00:34:36,000 Speaker 1: because you feel like you just did something nice for 770 00:34:36,040 --> 00:34:38,719 Speaker 1: them and they're not appreciating it. And so the best 771 00:34:38,760 --> 00:34:41,239 Speaker 1: generosity I think that you can give towards your kid 772 00:34:41,360 --> 00:34:44,400 Speaker 1: is a generosity of yourself, really, your your attention in 773 00:34:44,440 --> 00:34:46,480 Speaker 1: your time chedual. And what I love about that is 774 00:34:46,520 --> 00:34:48,480 Speaker 1: that you're questioning what it is that you're teaching your 775 00:34:48,560 --> 00:34:51,920 Speaker 1: kids through that consumption and through that spending. When we 776 00:34:51,960 --> 00:34:54,960 Speaker 1: overspend on our kids, consider what messages that we're communicating 777 00:34:55,040 --> 00:34:58,040 Speaker 1: to them through that. If you give into every whim 778 00:34:58,120 --> 00:34:59,920 Speaker 1: or every design that they have, you're teaching them that 779 00:35:00,000 --> 00:35:03,640 Speaker 1: their happiness is paramount. That's all that matters, right, or 780 00:35:03,640 --> 00:35:05,520 Speaker 1: at the very least, you're not teaching them the value 781 00:35:05,520 --> 00:35:07,759 Speaker 1: of money. And so as you're spending money on your kids, 782 00:35:07,760 --> 00:35:10,120 Speaker 1: it's worth keeping in mind the messages that you're sending 783 00:35:10,160 --> 00:35:13,239 Speaker 1: to them regarding money. And one more question for us 784 00:35:13,239 --> 00:35:16,000 Speaker 1: to ask ourselves as parents is why don't our values 785 00:35:16,040 --> 00:35:18,839 Speaker 1: match up? If you, as a parent, are spending more 786 00:35:18,960 --> 00:35:21,800 Speaker 1: on your children than you are yourself, it's worth asking 787 00:35:21,800 --> 00:35:24,279 Speaker 1: why are you spending a disproportionate amount on your kids 788 00:35:24,440 --> 00:35:26,560 Speaker 1: for them to be happy and have the best When 789 00:35:26,600 --> 00:35:29,800 Speaker 1: you're happy and content with much less, Hopefully you're spending 790 00:35:30,160 --> 00:35:33,000 Speaker 1: is value driven. And so that's a lesson that is 791 00:35:33,040 --> 00:35:35,879 Speaker 1: worth sharing with your kids. I think it can get 792 00:35:35,880 --> 00:35:38,400 Speaker 1: tougher to Matt as kids grow up. I just remember 793 00:35:38,440 --> 00:35:41,000 Speaker 1: myself looking back at middle school and how I wanted 794 00:35:41,000 --> 00:35:42,560 Speaker 1: the name brands and I think I mentioned in a 795 00:35:42,560 --> 00:35:45,640 Speaker 1: previous episode about wanting the Scottie Pippen shoes and and 796 00:35:45,800 --> 00:35:48,280 Speaker 1: there are certainly, uh, there are a lot of polls 797 00:35:48,320 --> 00:35:51,480 Speaker 1: on kids to want the latest and the greatest, and parents, 798 00:35:51,520 --> 00:35:53,760 Speaker 1: you know what, they want their kids to be happy, 799 00:35:53,800 --> 00:35:55,720 Speaker 1: and they want their kids to be liked at school 800 00:35:55,760 --> 00:35:57,400 Speaker 1: and to to not get made fun of for the 801 00:35:57,400 --> 00:35:59,839 Speaker 1: crappy shoes they're wearing or whatever it is. But as 802 00:35:59,840 --> 00:36:02,920 Speaker 1: a parent, that kind of guiding light of your values 803 00:36:02,960 --> 00:36:05,799 Speaker 1: and matching your values to how you spend money on 804 00:36:05,840 --> 00:36:07,719 Speaker 1: your kids. And you don't always want to say no 805 00:36:07,800 --> 00:36:10,480 Speaker 1: to your kids even when they want something, but reiterating 806 00:36:10,560 --> 00:36:14,680 Speaker 1: your family's values continually as your kids grow up, that's 807 00:36:14,680 --> 00:36:17,040 Speaker 1: gonna be helpful in reminding them that when they do 808 00:36:17,120 --> 00:36:19,960 Speaker 1: ask for something that obviously you're not going to buy them, 809 00:36:20,000 --> 00:36:22,239 Speaker 1: that it's not because you don't love them or that 810 00:36:22,320 --> 00:36:24,279 Speaker 1: you don't want them to be happy, but that you 811 00:36:24,480 --> 00:36:27,240 Speaker 1: have a greater sense of purpose as a family together. 812 00:36:27,480 --> 00:36:30,680 Speaker 1: And so that just takes increased level of communication about 813 00:36:30,680 --> 00:36:33,800 Speaker 1: the things that matter and know in that process that 814 00:36:33,880 --> 00:36:36,480 Speaker 1: you're helping teach your child principles that are gonna last 815 00:36:36,560 --> 00:36:39,439 Speaker 1: a lifetime. That pair of shoes or that cool shirt 816 00:36:39,520 --> 00:36:41,960 Speaker 1: or jacket or whatever it may be is a quick fix, 817 00:36:42,160 --> 00:36:44,200 Speaker 1: and there's gonna be the next cool thing that they need. 818 00:36:44,600 --> 00:36:47,440 Speaker 1: And there's never going to be any level of ultimate 819 00:36:47,480 --> 00:36:50,640 Speaker 1: satisfaction there for your child. But the way that they 820 00:36:50,680 --> 00:36:53,200 Speaker 1: are met in that by you as a parent, in 821 00:36:53,239 --> 00:36:56,520 Speaker 1: a thoughtful response, showing them the values that you hold 822 00:36:56,560 --> 00:36:59,600 Speaker 1: together as a family. It might not be super satisfactory 823 00:36:59,600 --> 00:37:02,000 Speaker 1: in the moment it, but it brings ultimate satisfaction to 824 00:37:02,160 --> 00:37:05,160 Speaker 1: a kid who really wants to believe that their family 825 00:37:05,200 --> 00:37:08,880 Speaker 1: has a greater ideal and purpose. Yeah, Joel, And hopefully 826 00:37:08,880 --> 00:37:11,719 Speaker 1: those values as well translate to savings when it comes 827 00:37:11,760 --> 00:37:14,680 Speaker 1: to spending, right, And this also applies to entertainment as well. 828 00:37:14,680 --> 00:37:16,799 Speaker 1: I know for us, like my family, okay, and now, 829 00:37:16,920 --> 00:37:18,560 Speaker 1: we love to go hiking. We love to spend time 830 00:37:18,560 --> 00:37:21,560 Speaker 1: outside and that's something that we're trying to instill in 831 00:37:21,600 --> 00:37:24,080 Speaker 1: our in our girls that we love spending time outside 832 00:37:24,080 --> 00:37:26,520 Speaker 1: in nature. And guess what, it turns out that hiking 833 00:37:26,600 --> 00:37:29,000 Speaker 1: is free, and so that's a way that we're able 834 00:37:29,040 --> 00:37:31,800 Speaker 1: to directly reduce the cost that we spend on entertainment 835 00:37:32,000 --> 00:37:34,239 Speaker 1: while at the same time getting exercise and fresh air 836 00:37:34,280 --> 00:37:36,640 Speaker 1: and stepping away from technology Like these are all things 837 00:37:36,640 --> 00:37:39,320 Speaker 1: that we value as a family, and it just happens 838 00:37:39,360 --> 00:37:41,920 Speaker 1: that is free. All right. Let's also tackle quickly, Matt, 839 00:37:42,000 --> 00:37:45,200 Speaker 1: the subject of having more kids. So does each additional 840 00:37:45,280 --> 00:37:48,240 Speaker 1: kid that you have double the amount that you spend 841 00:37:48,680 --> 00:37:51,200 Speaker 1: on the cost of raising children? What do you think? No, man, 842 00:37:51,360 --> 00:37:54,120 Speaker 1: you know the answer is no. And so why is 843 00:37:54,160 --> 00:37:56,400 Speaker 1: that something? I don't know what you wanna call? It? 844 00:37:56,400 --> 00:37:59,520 Speaker 1: Seemed called like the diminishing expenses of having additional children. 845 00:38:00,040 --> 00:38:02,759 Speaker 1: And that's because each additional child that you have after 846 00:38:02,880 --> 00:38:05,680 Speaker 1: having that first, they cost less. It's not that your 847 00:38:05,680 --> 00:38:08,720 Speaker 1: total costs actually goes down, but the percentage of money 848 00:38:08,760 --> 00:38:11,279 Speaker 1: that goes towards each additional child is going to be 849 00:38:11,400 --> 00:38:13,680 Speaker 1: less than that first one. Obviously you're gonna pay more 850 00:38:13,880 --> 00:38:17,120 Speaker 1: money overall by having more kids exactly. Yeah, there's another 851 00:38:17,160 --> 00:38:19,280 Speaker 1: mouth to feed, for sure. But you've kind of gotten 852 00:38:19,320 --> 00:38:21,319 Speaker 1: like that kids startup fee out of the way, right, 853 00:38:21,440 --> 00:38:23,839 Speaker 1: Like you said, yeah, reusing your crib or putting more 854 00:38:23,920 --> 00:38:26,279 Speaker 1: kids in one room. It's like, the costs do not 855 00:38:26,480 --> 00:38:29,000 Speaker 1: have to grow exponentially, And in fact, the more kids 856 00:38:29,000 --> 00:38:31,640 Speaker 1: you have, the second, third, and for you fourth kid 857 00:38:31,800 --> 00:38:34,040 Speaker 1: are going to become vastly cheaper. Right, that's right, man. 858 00:38:34,080 --> 00:38:36,360 Speaker 1: According to that report that we've been referencing when you 859 00:38:36,400 --> 00:38:40,319 Speaker 1: have one kid, they've calculated that of your expenses go 860 00:38:40,480 --> 00:38:43,000 Speaker 1: towards that one kid, but with that second child, it 861 00:38:43,040 --> 00:38:47,920 Speaker 1: doesn't double to from fifty two, it only goes to 862 00:38:48,000 --> 00:38:50,480 Speaker 1: thirty nine when you have that second child, and when 863 00:38:50,480 --> 00:38:52,680 Speaker 1: you have that third child, it only goes up to 864 00:38:52,760 --> 00:38:55,440 Speaker 1: forty percent. So again we're not saying that there's a 865 00:38:55,520 --> 00:38:58,760 Speaker 1: savings when it comes to having additional children. It's again 866 00:38:58,800 --> 00:39:01,319 Speaker 1: it's going to cost more money, but each additional child 867 00:39:01,400 --> 00:39:03,759 Speaker 1: will cost less than the one before it. Matt, I 868 00:39:03,760 --> 00:39:07,360 Speaker 1: think overall, taking just kind of a more minimalistic approach 869 00:39:07,480 --> 00:39:09,800 Speaker 1: to parenting is a good way to go, like finding 870 00:39:09,840 --> 00:39:12,960 Speaker 1: those free activities like you mentioned hiking right, And we 871 00:39:13,000 --> 00:39:15,440 Speaker 1: went to a recent birthday party of a friend and 872 00:39:15,480 --> 00:39:18,200 Speaker 1: their twins returning three, and I love what they did. 873 00:39:18,239 --> 00:39:20,920 Speaker 1: They asked people to bring used gifts from their house 874 00:39:21,160 --> 00:39:23,440 Speaker 1: as opposed to buying new gifts for their kids, and 875 00:39:23,480 --> 00:39:25,040 Speaker 1: I thought that was just a great way to do 876 00:39:25,080 --> 00:39:27,640 Speaker 1: it. It It helped our girls actually find ways to give 877 00:39:27,680 --> 00:39:29,759 Speaker 1: away the stuff that they kind of already had that 878 00:39:29,800 --> 00:39:31,560 Speaker 1: they don't play with as much that they thought these 879 00:39:31,560 --> 00:39:33,480 Speaker 1: girls would like. And at the same time, you know, 880 00:39:33,520 --> 00:39:35,880 Speaker 1: we weren't having to go out there and buying new stuff. 881 00:39:36,080 --> 00:39:37,960 Speaker 1: And so I think there are lots of ways for 882 00:39:38,400 --> 00:39:42,000 Speaker 1: parents of kids to save money. There are just lots 883 00:39:42,000 --> 00:39:44,359 Speaker 1: of untapped ways that we forget, that we don't take 884 00:39:44,400 --> 00:39:46,920 Speaker 1: advantage of, that we don't even try. And so much 885 00:39:46,920 --> 00:39:49,200 Speaker 1: of it is because of that kind of keeping up 886 00:39:49,200 --> 00:39:51,600 Speaker 1: with the Jones mentality and trying to make sure that 887 00:39:51,640 --> 00:39:53,600 Speaker 1: our kids have like all the things that they not 888 00:39:53,640 --> 00:39:56,040 Speaker 1: only need, but that they want, and that that ultimately 889 00:39:56,120 --> 00:39:58,319 Speaker 1: is kind of an impossible task. All right, maw Let's 890 00:39:58,320 --> 00:40:00,399 Speaker 1: get to our final thoughts on the question of how 891 00:40:00,480 --> 00:40:03,320 Speaker 1: much do kids really cost? And we mentioned the federal 892 00:40:03,320 --> 00:40:05,440 Speaker 1: study that shows that the average cost of raising a 893 00:40:05,560 --> 00:40:08,400 Speaker 1: child is two hundred and thirty three thousand dollars, And 894 00:40:08,440 --> 00:40:10,440 Speaker 1: that's a big sticker shock, and there are a lot 895 00:40:10,480 --> 00:40:13,800 Speaker 1: of people that will spend that much or or even 896 00:40:13,840 --> 00:40:16,600 Speaker 1: more raising each child. But when you take a look 897 00:40:16,719 --> 00:40:20,800 Speaker 1: at the bigger picture of housing, food, childcare, and transportation, 898 00:40:21,120 --> 00:40:23,560 Speaker 1: there are many ways that you can save and do 899 00:40:23,640 --> 00:40:26,880 Speaker 1: things just a little bit differently and drastically reduce the 900 00:40:26,920 --> 00:40:29,920 Speaker 1: cost of raising a kid. Cheduel. That's the thing, right, 901 00:40:29,960 --> 00:40:31,799 Speaker 1: It doesn't have to cost a quarter of a million 902 00:40:31,840 --> 00:40:34,600 Speaker 1: dollars to raise your kid from zero to eighteen, but 903 00:40:34,680 --> 00:40:37,400 Speaker 1: it might It all comes down to you and you're spending. 904 00:40:37,480 --> 00:40:39,360 Speaker 1: And really, one of the worst sort of things that 905 00:40:39,400 --> 00:40:41,680 Speaker 1: I think could happen from this is a couple who 906 00:40:41,719 --> 00:40:44,680 Speaker 1: happens to be more frugal. They see this number and 907 00:40:44,719 --> 00:40:47,080 Speaker 1: they say, wow, it actually costs a quarter of a 908 00:40:47,120 --> 00:40:48,759 Speaker 1: million to to raise a kid. I don't know if 909 00:40:48,760 --> 00:40:51,080 Speaker 1: we can handle that. And what they've done, though, is 910 00:40:51,080 --> 00:40:53,960 Speaker 1: they've taken the average American what they spend on their 911 00:40:54,000 --> 00:40:57,319 Speaker 1: kid and they've extrapolated that to their own situation, when 912 00:40:57,320 --> 00:41:00,160 Speaker 1: in reality, it's going to cost them much much us 913 00:41:00,200 --> 00:41:02,480 Speaker 1: to raise a child, and they would have potentially lost 914 00:41:02,480 --> 00:41:04,600 Speaker 1: out on the joys of being a parent. Yeah, and 915 00:41:04,640 --> 00:41:07,120 Speaker 1: having kids obviously isn't for everyone, but if you're this 916 00:41:07,280 --> 00:41:10,040 Speaker 1: deep into the episode, you're probably at least mildly interested 917 00:41:10,120 --> 00:41:11,680 Speaker 1: in it and you want to know how much it's 918 00:41:11,680 --> 00:41:14,640 Speaker 1: gonna cost you. And so just remember what you spend 919 00:41:14,760 --> 00:41:17,160 Speaker 1: is a reflection of your values, and there are ways 920 00:41:17,200 --> 00:41:19,440 Speaker 1: that you can help your kids see what your family 921 00:41:19,520 --> 00:41:22,720 Speaker 1: values throughout their childhood so that when you are able 922 00:41:22,760 --> 00:41:25,360 Speaker 1: to have those discussions with them about what your family 923 00:41:25,360 --> 00:41:28,800 Speaker 1: prioritizes in regards to spending. It's a life giving conversation 924 00:41:28,840 --> 00:41:31,560 Speaker 1: as opposed to one that makes them feel bad for asking. 925 00:41:31,680 --> 00:41:33,600 Speaker 1: All right, Matt, let's go back to the beer real quick. 926 00:41:33,640 --> 00:41:36,160 Speaker 1: We enjoyed a beer called Heavy Hands from Spindele Tap 927 00:41:36,200 --> 00:41:38,360 Speaker 1: Brewery today on the show. What was your take on 928 00:41:38,400 --> 00:41:41,200 Speaker 1: this one? Oh? It was so good. This is another 929 00:41:41,200 --> 00:41:44,160 Speaker 1: delicious beer from Spinell Tap. Joel. To me, this beer 930 00:41:44,160 --> 00:41:48,160 Speaker 1: tasted fresh and alive, you know, well like we've had 931 00:41:48,200 --> 00:41:49,920 Speaker 1: some fresh hot beers before, and where it tastes like 932 00:41:49,960 --> 00:41:52,919 Speaker 1: it's been canned like the day before. And in this case, 933 00:41:52,960 --> 00:41:55,640 Speaker 1: it almost has like that tingly sort of feeling as 934 00:41:55,640 --> 00:41:58,200 Speaker 1: you're drinking it to where the best way, Yeah, the 935 00:41:58,200 --> 00:41:59,760 Speaker 1: best way I can describe it is that it tastes 936 00:42:00,120 --> 00:42:03,239 Speaker 1: live like it it sparks joy in my mouth. Uh. 937 00:42:03,239 --> 00:42:05,879 Speaker 1: And it's a fantastic beer, That's what I'm saying. Marie 938 00:42:05,960 --> 00:42:08,560 Speaker 1: Condo would definitely approve of this beer, I think. Yeah, 939 00:42:08,800 --> 00:42:11,200 Speaker 1: to me, this is like a hoppy juice bomb with 940 00:42:11,200 --> 00:42:13,480 Speaker 1: with some nice kind of like pineapple notes. I really 941 00:42:13,520 --> 00:42:15,640 Speaker 1: enjoyed it. I think this was actually maybe even a 942 00:42:15,640 --> 00:42:17,760 Speaker 1: touch better than the beer that we had a Monday's 943 00:42:17,800 --> 00:42:20,600 Speaker 1: episode from Spindle Tap. But men, they are just from 944 00:42:20,640 --> 00:42:23,880 Speaker 1: those two beers alone, they're putting out just some crushingly 945 00:42:23,960 --> 00:42:26,279 Speaker 1: good I p a s. That's what they specialize in, 946 00:42:26,440 --> 00:42:28,160 Speaker 1: and I kind of love that that's what they stick 947 00:42:28,200 --> 00:42:30,680 Speaker 1: to and they just do a really good job making 948 00:42:30,719 --> 00:42:32,920 Speaker 1: I p a s. Yeah, so huge things to the 949 00:42:33,000 --> 00:42:34,799 Speaker 1: Leo and all of our friends out at spindle Tap 950 00:42:34,920 --> 00:42:37,680 Speaker 1: for donating some beers to the show. Yeah, thanks so 951 00:42:37,760 --> 00:42:41,319 Speaker 1: much everybody for listening to today's episode. We'll have show 952 00:42:41,400 --> 00:42:44,200 Speaker 1: notes up on our website How's the Money dot com 953 00:42:44,280 --> 00:42:47,319 Speaker 1: and reviews. We always love a positive review, so head 954 00:42:47,360 --> 00:42:50,280 Speaker 1: over to Apple Podcasts if you found this episode helpful, 955 00:42:50,640 --> 00:42:53,160 Speaker 1: and while you're there, be sure to subscribe. All right, buddy, 956 00:42:53,239 --> 00:42:56,239 Speaker 1: Until next time, Best Friends Out, Best Friends Out.