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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!

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    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

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      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.

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        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.

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        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.

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          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.

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            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.

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              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.

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                  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

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                  Published on November 8, 2018

                  How to Answer the Tough Question: What are Your Salary Requirements?

                  How to Answer the Tough Question: What are Your Salary Requirements?

                  After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

                  But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

                  Unfortunately, this is the wrong approach.

                  Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

                  Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

                  Of course, you can’t command a high price without bringing value.

                  The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

                  1. Hack time to accomplish more than most

                  Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

                  With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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                  Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

                  Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

                  For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

                  Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

                  It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

                  2. Set your own boundaries

                  Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

                  Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

                  Here are some important traits to consider:

                  • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
                  • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
                  • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

                  These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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                  3. Continuously invest in yourself

                  Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

                  You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

                  Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

                  Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

                  Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

                  It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

                  4. Document the value you bring

                  Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

                  To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

                  A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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                  Here are some ideas:

                  • joesmith.com
                  • joeasmith.com
                  • joesmithprojects.com

                  Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

                  During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

                  5. Hide your salary requirements

                  Avoid giving you salary requirements early in the interview process.

                  But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

                  The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

                  Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

                  6. Do just enough research

                  Research average salary compensation in your industry, then wing it.

                  Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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                  Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

                  Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

                  7. Get compensated by your value

                  Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

                  Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

                  Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

                  You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

                  The bottom line

                  You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

                  You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

                  Featured photo credit: LinkedIn Sales Navigator via unsplash.com

                  Reference

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