The idea of building a family, of putting down roots and creating a safe place for you and your offspring, is built into us as a survival instinct. Interestingly, in modern times, with so many people in the world, and so many choices when it comes to living environment, we have to fight against our survival instinct – in order to survive! And a big part of that equation is cost.
So before you decide to have a baby, think about some of the very real costs of building a family, and how those details will add up over the years, especially with regard to your standard forms of income.
The Surrogacy Option
Outside of natural birth, you can also pay a surrogate to help you build your family. There are countless reasons to choose this option, from medical, to practical, to cultural, or for safety reasons. Surrogacy is often thought of as an option available for people who have quite a bit of extra money to spend on this endeavor, but it’s still a viable way to start moving toward a family-centric life, whatever your reasonings.
Costs of Hospital Visits
And are you aware how much it costs to visit the hospital for a pregnancy? Depending on what your insurance is like and how long you plan on staying, and if there are any sort of complications, this number can skyrocket very quickly. Remember, these aren’t reasons not to have children – they are just things to be aware of if you think it’s not a major financial decision once you start talking about having babies.
Time Off of Work
Another built in cost, depending on your job’s maternity and paternity leave policies, is going to be how much time you have to take off work. The U.S. in particular has a very short time period built in for maternity leave, and though it’s getting better, it’s important to make sure that you understand what the rates and times and going to be, and then you’ll quickly have to start relating your income to daycare costs.
The Price of Education
And looking way far down the line, how much money do you think you’ll have to spend on your child’s education? This seems like a completely random question from a survival of the species standpoint, but if you can’t afford good education throughout the life of your child, they’re going to have some real struggles eventually.
Family Insurance Plans
Insurance costs are going to change once you have a baby as well. You and your spouse will have to deal with medical, dental, life, and home insurance, and your child will be on your policies at least through when he or she is 18 most likely.