But American parents have it better than parents in England
If the numbers are right, the cost of raising your kids continues to rise. However, there is a silver lining. You could be bringing your kids up in Europe.
A British study says parents in England will spend over 300 thousand American dollars to raise a child. The cost here in the United States ia bout $235K. That is still a big number, and Houston therapist Mary Jo Rapini says it's a big enough number to cause problems for a lot of couples.
“What it’s doing is creating needless stress,” Rapini explained.
Houston financial planner Richard Rosso says education is an area where you could actually cut back a bit, believe it or not.
“Look at some areas of Houston that are populated with a lot of children. The Woodlands, for example. They have exemplary schools,” Rosso said.
Rosso says parents have to use common sense sometimes in order to make raising their kids more cost efficient.
“You really have to let that whole competitive education thing go. You really need to focus on the basics; clothing, health care, food and child care,” Rosso explained.
Rapini says sometimes parents have to sacrifice their own egos and do what just makes sense.
“Parents draw a lot of satisfaction if their child has the best of this or the best of that. And unfortunately many of those material things are not what is best for the child,” Rapini explained.
Rapini says a lot of the stress that goes along with raising a child can be avoided if we just stop trying to 'Keep up with the Joneses.'
Hear the podcast with Matt Patrick and Houston's Morning News as he talks with Rosso: