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Are You Financially Ready For Kids?

Prairie Eco-Thrifter

According to an article that was published on Investment News last June, it costs approximately $235,000 to raise a child and that’s not even counting their college tuition ! ” Before you answer, here are five other questions to ponder that will help to provide you with the clarity that you seek: How Much Debt Do I Have?

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

We paid for braces, college tuition for my son, and did fun stuff like traveling while we were paying off debt. I think I even announced it during a meeting at work. They ranged from a low of about $2,300/yr (no zeros missing there!) to a high of maybe $80,000/year. We hit everywhere in between. Basically, we had a normal life.

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How We’re Using Upromise to Save for College

Family Balance Sheet

Since March of 2020, over $1300 has been transferred into my daughters’ 529 College Savings Accounts. In the grand scheme of college tuition, $1300 barely makes a dent, however, that was just the first 18 months, and we have another 9 years before my youngest graduates from college. 108 Months X $72 = $7,776!

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