My co-host Jay used to be a workaholic. He took pride in grueling 70-hour weeks.
But after Jay and his wife started having children, his priorities shifted. He works fewer hours. He earns less money than he used to. He spends more, due to the cost of childcare.
In this episode, he shares specific details on how having children affected his work, money and life.
Jay always heard about the incredible cost of having a child, so he decided to track every dollar spent on his first child.
Over the span of 29 months, from pregnancy to when his first born was 18 months old, Jay and his wife spent:
- $3,000 on pre-birth expenses
- $1,100 in disposable diapers
- $300 for toys
- $600 clothing
- $1,100 home furniture and stuff
- $3,000 towards college saving plans
- $7,000 in medial insurance (gasp!)
- and $1,800 in random supplies
Here’s the kicker: they also spent $11,000 for six months of daycare. Oh, and did I mention his income dropped, too?
Listen to Jay talk about the financial and entrepreneurial impact of having children — and why it’s okay!! — in this episode.
