Josh Zumbrun

speaker

325 appearances 5 recordings 1 series first heard Dec 2018 last heard Oct 2023

Josh Zumbrun’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Cost of Raising Kids Swells to $300,000 · 29 Aug 2022 podcast

I mean, that's a very big issue.

And in some parts of the country, it's much more expensive than that, right?

I mean, you think about the big cities, New York and Boston and Washington, D.C.

and San Francisco.

I mean, in a number of cities, it's going to cost you over $10,000 a year just to go from a one-bedroom apartment to a two-bedroom apartment.

Huge expense.

Now, the significance of that, though, is that for a lot of families, you might live in a part of the country where kind of all the houses are already three or four bedrooms.

I mean, that's very common in a lot of the country to have the entire housing stock kind of be that.

And for those families where you already have the housing taken care of, you know, it's very plausible that you can raise a child without getting even close to $300,000.

Some people have child care built in.

Either they have family, there's one parent who's not working, they have friends.

But for people that have to pay for child care, it can be incredibly expensive.

You know, it can be so expensive that it becomes a decisive factor for some people in how they set up their lives.

I mean, you know, some people will realize that paying for child care is so expensive that it's not even an option for them.

And they'll have to turn to family or friends.

But this ends up being one of the biggest drivers as well.

I mean, if you have a way to not pay for private daycare, that's the other big factor that can really change how many checks you're going to write over the course of childhood.

Yeah, I mean, there's no question that food adds up and that you're talking about, you know, several thousand dollars a year.

But interestingly, you know, most families are able to get through most of childhood.

This kind of changes in the late teen years and, you know, higher income families spend more on food.

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