Children are the joy and pride of their parents. However, it is no secret to anyone that raising them is an expensive pleasure. At the same time a large family, according to the billionaire and investor, the stars of the TV show Shark Tank, Kevin O’Leary, is wonderful. After all, parents happily watch how
Children are the joy and pride of their parents. However, it is no secret to anyone that raising them is an expensive pleasure. At the same time a large family, according to the billionaire and investor, the stars of the TV show Shark Tank, Kevin O’Leary, is wonderful. After all, parents happily watch how children are born and grow up in their home, becoming a part of their life, he is sure.
How much do children in America cost
According to the latest known data, the birth and upbringing of a child under 17 years of age in the USA cost 233 thousand dollars. However, these figures may differ depending on the financial condition of the parents. In families with high incomes, spending on children averages 372 thousand dollars, and with lower material wealth – 174 thousand dollars. All these figures depend on many factors.
O’Leary believes that the birth and upbringing of one of his children cost him 700 thousand dollars. The billionaire has two of them: the 25-year-old daughter Savannah and the 22-year-old son Trevor. Kevin O’Leary has his thoughts on how to reduce the costs associated with children. He shares them with parents who have several babies.
Tips from a famous presenter
O’Leary is convinced that the huge monetary costs associated with the purchase of children’s clothing are unfounded. After all, babies grow out of it every 3 months. At the same time, the cost of children’s clothes is quite high.
In order not to waste a huge amount of money, the billionaire suggests using the following advice. O’Leary notes that families with same-sex children are lucky. After all, the guys will be able to wear clothes one after another. However, not everyone is so lucky. For example, a TV show star has heterosexual children, which led him to serious financial costs associated with the acquisition of clothing.
However, O’Leary found a way out of this situation and presented it to millions of parents. Children need to buy unisex clothing. After all, according to the billionaire, while they are small, they rarely pay attention to what they wear.
Therefore, T-shirts and unisex pants will come in handy and will allow parents to save significant amounts. Isn’t it an interesting way to save?
Another piece of advice that O’Leary gives is this. When parents are going to buy anything for themselves or a child, then initially they should ask themselves the question: is it necessary for them or is it a normal waste of money?
The billionaire tips can lay the foundation for the future well-being of children in adulthood. After all, when it comes to savings, experts recommend people at the age of 20 to save 20% of their wages, and by the age of 30, this percentage should be 30.