Realistically, How Much Does It Cost to Have Kids? | E128 Maya Corbic

The Struggle is Real: Tips for Mastering Money in Your 20s

I’ve always dreamt about becoming a dad. I know little moments like teaching them the ABCs, running them to soccer practice, or helping them pick out their prom outfits are going to bring me a lot of joy. I’m even ready for the challenging moments like sleepless nights, pre-teen outbursts, and difficult “growing up” conversations.

One thing that I’m not sure I’m ready for is the cost of children. I was reading a survey and apparently, the average cost of raising a kid from 0 to 18 years old in the United States is $237,000. And I’m not quite sure I would be on the low end of the average.

I agree with Maya Corbic, our guest today, that you can’t put a price on the love that you’ll have for your child but the financial impact has to at least be considered in your decision-making progress.

How much does a pregnancy cost? What financial milestones should I accomplish before having a child? Can I realistically afford to take care of a child right now?

These are all questions that will be answered in today’s episode. As I mentioned, we’ll be talking to Maya Corbic. She is the creator behind the popular Instagram page teach.kids.money where she is helping parents raise financially savvy children. She is also the author of “From Piggy Bank to Stocks: The Ultimate Guide for a Young Investor” where she introduces children (and honestly parents) to the exciting world of investing.

This is a great episode for anyone considering parenthood and also soon-to-be parents as we discuss a lot of early childhood cost savings tips.

Let’s get into it. I hope you enjoy my conversation with the 1st gen immigrant, CPA, and energetic mom of 2…Maya Corbic.

Key Takeaways:

• The average cost of raising a child
• Financial milestones to consider hitting before becoming a parent
• Financial to-dos to prepare for an addition to your family
• How to reduce your child-related expenses and find great deals
• How to invest in your children's education through a 529 account
• The sneaky benefits of a custodial account
• The importance of aligning your family and financial values

More of Maya:

Instagram: https://www.instagram.com/teach.kids.money/

From Piggy Bank to Stocks: https://dinariiwealthykidsclub.lpages.co/from-piggy-banks-to-stocks/

More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Follow us on Instagram at https://www.instagram.com/tsirpod/