In the Red For Children's Activities

Do you need a spreadsheet to organize your children's activities or more importantly, a loan?

According to BabyCenter, 46% of the 1,000 moms surveyed, are going into debt because they've enrolled their kids in so many activities, they're living beyond their means.

You'd be hard pressed to find a parent out there who doesn't have their child enrolled in a gymnastics, soccer, dance, music class or all of the above. I'm not knocking parents for their choices. I'm simply saying, according to this report, many moms can't afford to have their kids enrolled in all of them. When asked why, the moms surveyed said they think it's what's best for their kids. However, 3 out of the 5 moms surveyed, admitted to worrying about having enough money to see their children into adulthood. Here on the East coast, parents admit to spending about $1,000 more than the U.S. average of $13,248 per year, on their child. The BabyCenter report also showed, the more money parents made, the more they spent. If a parent earned six figures, they spent an extra $2,600 on their kids.

All that, despite the fact, that the research showed 3 out of 5 moms say they could raise a child on less. 


Copyright © 2018, CT Now