Has it ever been financially favorable to have kids?

Question

Growing up, I always wanted to someday have kids. In the past few years I've been wanting to have kids more and more. (I'm 26) Just putting that out there so you do not mistakenly think I only want kids as a "tool" for money. But recently I've realized that if I was with a partner(assuming I stayed) and had kids, it would actually be less financially exhausting than continuing to support myself alone.

My partner makes a six digit income...even minimal child support payments would provide more than enough to adequately raise a child, plus a little extra to spend on improving my lifestyle so that I won't have to pinch pennies by taking the bus at 3am coming home from work, or so I can move to a slightly bigger place(as opposed to raising a child in a 1bd apartment)...lifestyle improvements that would benefit my safety or the kid.

Now if my partner and I raised the kid together...we would have split bills. Basically I would be splitting his $800 total mortgage on his 3bd house, as opposed to paying $905/mo rent all by myself on my 1bd apartment(this also shows why I hate renting so much!! I want to buy). Overall there'd be MORE financial stability by splitting bills paying child expenses, than paying bills all by myself(not to mention paying more money for 1bd rent than for a 3bd house).

In a weird sorta way, I wonder if my situation is similar to my friend's:

http://answers.yahoo.com/question/index?qid=20080806064900AAC9AlS

I mean, we've both wanted something for a while(I've wanted kids; my friend's wanted to quit the grocery store). But both of us held off on doing these things because of money issues. But now it's at the point where it might be costing us more to NOT do what we want to do!

What do you think? Has anyone found that they're in a better situation by HAVING kids than not?(i.e., the exception or the anomaly)

Answer 1

please don't have a child for the financial gain. you can never plan enough for a child. that said, the reason people have children is for the love and the longing to parent. please think of the emotional aspect before thinking about the financial aspect. good luck

Answer 2

I think no

Answer 3

You sound a little selfish when it comes to your partner - love him for him not his paycheck. And child support payments will not rearly be able to support a child.

For god sake, it sounds to me like all you care about is money. Not love.

I suggest you don't have children or enter any form of marrital aggreement until you sort you priorities out.

Some people would kill to havw children yet arn't blessed with the gift. You don;t deserve them if all you think about is how much money they may bring you. Children don't necesarily improve your lifestyle. There hard work.

Answer 4

So are you saying that the only way your partner would allow you to move in and share expenses would be to get pregnant and have a child? As a mother of 4 sons I can tell you kids are not cheap will not help your situation. I would say move in with your partner and prepare for a child. You are forgetting the babys needs as far as diapers, blankets, bassinet, car seat, formula, daycare, etc. Kids are NOT cheap so  if your partner makes a six figure income then you must ask him if he is ready for kids some men are more into their career and want to be financially secure before bringing a child into this cruel world. So talk it out with your partner and make sure the feeling of wanting kids is mutual. Good Luck

Answer 5

financially favorable?  No way!  But having children is very rewarding and fulfilling.  Some things money can't buy or replace.  Your own family will give your life meaning and purpose.  Things that used to be so important to you won't matter so much when you hold your child.  Good luck  xox

Answer 6

If you wait until your financially stable to have kids, you may never have them. The cost of living is always going to rise. Kids are not cheap. from the time there born until they go to college, they will always need.

you may have to change your living style for awhile until you know how to manage your budget with kids. I wouldn't give my kids up for anything. They're the riches in my life.  good luck

Answer 7

you do have some good points, but I think that first you should discuss this with your partner before you go and make assumptions and try to get pregnant. Is marriage something that you have talked about and considered? And how does he feel about kids especially so early in the marriage.....assuming you did get married? Those are things you need to discuss with him. However, I know that cost of living and wages are different from state to state and too, cities and suburbs. The kind of money that you are talking about in term or rent and morgage and income is outrageous to me. Where I live....those are a little unrealistic so I cannot completley answer your question.....but based on cost of living ect. where I live....I can tell you this.... I love my husband of 4 years, my 3 year old daughter, and my 12 year old stepson to death and would never in a million years change the situation I am in or the choices I have made, but a few years back when my daughter was about 7 months old and I had lost my job (my husband worked, but paid child support) we fell on some hard times. We could not get any help from the government in terms of food stamps, cash assistance, WIC, any utility assisstance (LIHEAP) or anything else for that matter. No one cared that my husband paid child suppport....they do not take that into consideration.....only federal and state taxes. I am absoutley for him paying child support - that is his resposability, but there was a time when he could not support the family he lived with....me and our daughter. If I were single/unmarried whatever.....I would have gotten everything, been eligible for all of the help they have avaliable. I am not condoning not getting married....we got through our hardships and are fine now....but there was that time when I thought the government had there stuff all wrong when you had 2 people who were married trying to do it the "right" way and couldn't make it and they refused to help. It sounds like that you and your partner are financially stable enought though that you would not incur theses problems....and I hope you never do....but if there were ever a chance that maybe he or you would lose you job, ect. you need to take inititive and plan for that now. Hope I helped a bit. BEst of luck to you!