Are Kids More Expensive Than Ever? The Real Cost of Raising a Family

Are kids more expensive than ever? In the first episode of Family Money, Lindsey Stanberry, Babylist’s Family Finance Advisor, tackles one of the biggest questions parents and future parents ask: how much does it really cost to raise kids today? Lindsey talks with Wharton economist Corinne Low about why raising children has become more expensive - not just in dollars, but in time, career tradeoffs, childcare costs, and the pressure to “invest” in your child’s future. Corinne explains why today’s parents spend more time and money on kids than previous generations, how childcare affects family finances and women’s careers, and why the most expensive years of parenting may be more temporary than they feel. Then, writer and mom of three Amil Niazi joins to talk about the real-life choices families make to afford kids: skipping the bigger house, avoiding unnecessary baby gear, buying secondhand, borrowing from other parents, budgeting around childcare, and remembering that kids don’t need everything to be happy. Because here’s the truth: kids will flip your finances upside down. And they’re worth every penny. Family Money is here for real conversations about how parents are making it work - and how you can too. Chapters: 00:00 Are kids more expensive than ever? 01:07 Why raising kids costs more now 02:23 Why parenting takes more time today 03:35 Two-income households and childcare costs 05:31 The “squeeze” years for parents 06:28 Should families plan around childcare costs? 07:38 Travel sports, activities, and parenting pressure 10:08 Reframing the cost of kids as an investment 13:03 How to have kids without overspending 13:38 Do you need a bigger house or car? 15:42 What baby gear do you actually need? 17:05 Hand-me-downs, borrowing, and secondhand baby gear 19:01 Why first-time parents overspend 21:57 Budgeting for the kind of family life you want 23:01 Childcare, work, and realistic planning 24:27 Why parents shouldn’t forget themselves 25:45 The joy of parenting without overcomplicating it Follow Family Money on Spotify: https://open.spotify.com/show/033o8jfQ9XZyie5P8TPpHy?si=00221a9e8f9e4b7f Lindsey Stanberry: Babylist’s Family Finance Advisor and founder of The Purse https://www.instagram.com/read_thepurse/?hl=en Corinne Low: Associate Professor of Business Economics and Public Policy at The Wharton School and author of Having It All https://www.instagram.com/corinnelowphd Amil Niazi: Writer, producer, and author of Life After Ambition https://www.instagram.com/amilniazi/ — Create your baby registry and get our free Hello Baby Box: http://bit.ly/babylist-registry Discover more stroller reviews and comparisons: https://www.babylist.com/hello-baby/gear Subscribe: https://www.youtube.com/c/Babylist-Videos?sub_confirmation=1 — Babies are too tiny to use social media, but we aren't! Instagram: https://www.instagram.com/babylist TikTok: https://www.tiktok.com/@babylist Facebook: https://www.facebook.com/babylist Twitter: https://twitter.com/babylist Pinterest: https://www.pinterest.com/babylist **This information is provided for educational and entertainment purposes only. We do not accept any responsibility for any liability, loss or risk, personal or otherwise, incurred as a consequence, directly or indirectly, from any information or advice contained here.