PB59: Kids Cost What?!

Jun 19, 2017

The Money Minute

• A @PayBalances listener asks, "how would you change your budget if you had children?"
• We found that as of 2017, it costs up to $233,610 to raise a child from ages 0 to 17!
• We discuss how we would proactively adjust our personal finances when a little (HYPOTHETICAL!) bundle of joy is on the way:
  • Start the 9-month clock and begin adjusting and testing our new family budget before the arrival of the baby.
  • Review our insurance plans to make sure we have enough to care for everyone, not just ourselves.
  • Why we would immediately start planning and saving for our child's college fund.

This Week In Work

• How to improve your online job searches and recruiter contacts on LinkedIn using Boolean search strings.
• Rich provides a step-by-step breakdown of how to use search strings to tailor your job search and improve your online job profile.
• We discuss how to network and navigate LinkedIn when a recruiter or company of interest visits your personal profile.

References

• The 2017 Cost of raising a child: $233,610
• Would-Be Parents Underestimate and Unprepared for Potential Costs of Raising a Baby
• Business Insider: Parents Reveal What To Do With Money Before Having Kids
• The Simple Step That Led to My Fiancé Getting 9 Recruiter Calls in One Week
• A Step by Step Guide To Understanding and Using Boolean Search Strings in Your Job Searches and Online