Its early October, the autumn leaves are just starting to fall, Pumpkin harvesting are just starting for Halloween end of the month. Black Monday shopping has not even started and yet Costco have already started their Christmas marketing and the next big Christmas toys on display. Simply to fuel kids minds that they should start their Xmas list to Santa as soon as they can. Modern day parents always give in and simply buy everything! Have you tried calculating how much in total parents, grandparents, auntie and uncles spend on presents for a single child in this modern 2017? The answer is…….At least $1000.00!
Having kids is a financially straining expense with the outgoing cash flow for raising kids increases with their age. During key milestones period between the age of 17 to 21, the expenses such as birthday parties, buying a car, university starts increasing exponentially. That is the shinning age where our children generally go to colleague or university to pursue their dreams. The answer to the golden question, is to start a financial investment from the day they were born. Simply because there is likelihood of spare cash at their earlier childhood compared to later teenage stage.