You might want to get the IOUs ready for the folks who raised you...

Answer: $310,605

Questions: 

• Do you think the financial investment in raising a child is justified by the emotional and societal benefits of having children? Why or why not?
• How does the cost of raising a child impact a family's financial stability and future planning?
• What economic factors should parents consider before deciding to have children?

Here are the ready-to-go slides for this Question of the Day you can use in your classroom.

Behind the numbers (Investopedia): 

"Raising a child can be an emotionally rewarding experience. But it can also be very costly. Statistics from the Brookings Institution, an economic think tank, show that the average middle-income family with two children will spend $310,605 to raise a child born in 2015 (latest information) up to age 17 in 2032."

---------------

The COMPARE: Needs vs. Wants activity will have your students thinking critically about their budgeting priorities.

---------------

Looking for more budgeting resources? Check out the Budgeting unit page.

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.