Advertising
Advertising

25 Things You Can Do With The Cost Of Raising A Child

25 Things You Can Do With The Cost Of Raising A Child

Raising children is arguably one of the most rewarding endeavors that a person can undertake, but it certainly isn’t without its challenges, among which are rising expenses. According to a recently published USDA report, the average cost for a middle income American family to provide for a single child to adulthood is $245,340. That’s right, nearly a quarter of a million dollars, and that doesn’t even include the expense of putting your kid through college!

screen-shot-2014-08-19-at-102012-am_large

    While the choice to bring a new life into this world goes well beyond purely financial considerations, it can be interesting to put the cost of child rearing into perspective. Here are 25 things that you could do with the money you would save by making the decision to remain child-free.

    1. A Quick Trip to Outer Space

    For $250k, you can book passage aboard Virgin Galactic’s SpaceShip 2 to sub-orbital space. The flight only lasts 2.5 hours and, of that time, only a grand total of 6 minutes are spent in a weightless environment but hey, once you get back to Earth, you can force all your friends to constantly refer to you as an astronaut and it’s hard to put a pricetag on something like that.

    2. An Above Average Home

    The median price for a house in the United States is currently hovering around $189,000, so with the money saved by not having a child, you could find your dream home in many parts of the country.

    3. Take a 5 Year Sabbatical

    Considering that the median household income in the US is around $50,000 a year, you could opt to take a 5 year break from work and finally put pen to paper on that novel you always told people that you wanted to write.

    4. A Really Cool Car

    Advertising

    mercedesbenz-sls-amg-8

      Are you into cars? Why not pick up a 2015 Mercedes SLS roadster, which, with its handcrafted 6.3L V-8 engine, is capable of accelerating from 0 to 60 MPH in just 3.6 seconds.

      5. Rent a Private Island

      Need to get away from it all? $230,000 will buy you a week on your own fully staffed, private island off the coast of Spain.

      6. Cruise Around the World… Twice

      You could book the Owner’s Suite for two 180 day journeys around the world cruise with Oceania Cruises.

      atw_cruise_map_2016

        7. Four Tons of Custom M&Ms

        For the cost of a child, you could buy 8,000 lbs. of everyone’s favorite melt in your mouth candy with a custom image of your face printed on every one.

        8. A Big Diamond

        You could buy an 8 carat loose diamond to show off to all your friends.

        9. A Cargo Ship

        $245,000 will buy you your very own used 170′ cargo ship,complete with 11 cabins and 100 metric tons of cargo capacity for that international shipping business you always wanted to start.

        Advertising

        10. A Pair of Thoroughbred Racehorses

        The average price for a pedigreed racing horse is around $130,000 and is on the rise, so buy soon, while you can still afford them.

        11. A Bottle of Bordeaux

        Why not pick up a bottle of 1787 CHÂTEAU MARGAUX that was supposedly owned by Thomas Jefferson. Well, unfortunately you can’t because that particular bottle was broken in a dinner-party mishap, but don’t feel bad, its owner collected $225,000 from his insurance company.

        12. Line Your Walls with Picasso Linocuts

        You can buy 5 hand-signed color linocuts (a design cut into a linoleum surface) by the venerable Pablo Picasso.

        picasso4967

          13. Go to Disney World Every Day for The Next 11 Years

          Instead of having a kid, you could embrace your own inner-child and spend over 4,000 straight days at the Magic Kingdom.

          14. Spend 10 Nights in the Bridge Suite at Atlantis

          At $25,000/night, the enormous luxury suite that bridges the two towers of the Atlantis Resort in the Bahamas is one of the most expensive hotels on the planet.

          Advertising

          Atlantis-Resort-in-Paradise-Island-Bahamas

            15. Put a 100+ Inch TV in Every Room

            At around $50k a pop, you can put five Panasonic 103″ high definition televisions all over your house.

            16. Rent an Apartment in Manhattan

            Love big city living? The average rent for an apartment in Manhattan is around $4,000/month, which would allow you to live there for a little over 5 years for the cost of raising a single child.

            17. Attend the Super Bowl in Style

            At most stadiums, box suites can be reserved for the Super Bowl that accommodate 20+ of your closest friends and offer full food service and an open bar so you can enjoy the big game in style.

            18. Eat a Lot of Steak

            Embrace your inner caveman by ordering over 10,500 seven ounce Private Reserve Fillet Mignons from Omaha Steaks, their finest cut of beef.

            19. Buy Enough Gas To Drive Around The Earth 66 Times

            At an average cost of $3.50/gallon, you could buy enough fuel to drive over 1.6 million miles.

            20. Drink Some Water Out Of A Very Fancy Bottle

            Feeling parched? Why not quench your thirst with a few bottles of the world’s most expensive water, Acqua di Cristallo Tributo a Modigliani. At just $60,000 a 750ml bottle, you can afford to drink about four of them.

            Advertising

            agua

              21. Get Married A Bunch of Times

              Why should your wedding day be a once-in-a-lifetime experience? Enjoy eight average-cost weddings for the same price as one wedding night mistake.

              22. Go Back To School

              The average cost of college tuition is around $30k/year, allowing you to pursue one of those fancy 8 year degrees.

              23. Enjoy Ten Servings of the World’s Most Expensive Dessert

              Indulge your sweet tooth with ten servings of the decadent Frrrozen “Haute” Chocolate from Serendipity 3 in New York City.

              Frozen-Haute-Chocolate

                24. Get Your Own Billboard

                Buy advertising space on a billboard in Atlanta and run your ad for over seven and a half years. Tell the world how much money you saved by not having children.

                25. Fill Your Yard With Children Made of Bronze

                For the cost of raising a flesh and blood child, you can own almost a hundred bronze replicas.

                E840BDorothy-LR-28112

                  Do you plan to have children? Think they’re worth the pricetag? Let us know in the comments.

                  Featured photo credit: Cash / 401(K) 2012 via flic.kr

                  More by this author

                  10 Weird Things Brought to you by Climate Change 10 Health Benefits Of Watermelon That Make It The Perfect Summer Fruit Every Man Should Know About These 12 Shaving Tips 25 Things You Can Do With The Cost Of Raising A Child 5 Apps To Start And Run A Blog Entirely From Your Phone

                  Trending in Money

                  1 Life Insurance: A Secure Way To Protect Your Future. 2 How To Save Money On Groceries: 13 Quick Tips 3 10 Investment Tips For Beginners 4 Top 6 Hacks on How To Build Credit Fast 5 Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

                  Read Next

                  Advertising
                  Advertising
                  Advertising

                  Last Updated on March 29, 2021

                  Life Insurance: A Secure Way To Protect Your Future.

                  Life Insurance: A Secure Way To Protect Your Future.

                  Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

                  Importance of getting a life insurance

                  No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

                  Advertising

                  On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

                  Choosing the right insurance plan

                  If you’re about to select an insurance plan, you should consider some important factors:

                  Advertising

                  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
                  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
                  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

                  Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

                  Differences between life insurance plans

                  Here’s a short brief of some plan categories you can choose according to your needs:

                  Advertising

                  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
                  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
                  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
                  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
                  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

                  Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

                  So what are you waiting for? Plan for your future and live a happier and carefree life today.

                  Advertising

                  Featured photo credit: aryehsampson.com via aryehsampson.com

                  Read Next