Raising a child is expensive, but it's also your fault - Walla! Business

2020-10-25T23:35:52.018Z

The cost of raising a child in Israel reaches more than NIS 100,000 in the first year, and that is only an officer. The thing is that beyond the cost of living there are also things you can do to save money. The key: change your worldview about what is good for the newborn and stop with the snob

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Raising a child is expensive, but it is also your fault

The cost of raising a child in Israel reaches more than NIS 100,000 in the first year, and that is only an officer.

The thing is that beyond the cost of living there are also things you can do to save money.

The key: change your worldview about what is good for the newborn and stop with the snob

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Insane running expenses per month (from the Ministry of Finance website)

"Check if the product is right for you - tailor your purchases to your lifestyle, your income and your needs."

These words, written on the Ministry of Finance's website, hit a very sensitive point, which over the years has enriched the cash registers of baby equipment chains with billions of shekels: the parents' feelings of guilt.

According to a sample survey conducted among 203 households in Israel that gave birth to a child over the past three years, it turns out that the connection between the parents' financial situation and the level of expenses incurred as part of 'nesting' (preparing the home for the child's arrival) is quite loose.

The company 'Sting Systems' conducted the inspection in which, among other things, the respondents were asked to specify the amount they paid for the purchase of a baby stroller.

Thus, it turns out that no less than 35% of the respondents who earn less than the average wage in the economy, stated that they spent more than NIS 4,500 on the purchase of a cart.

Quite paradoxically, only 15% of the wage earners who exceed NIS 30,000 purchased a cart for such an amount.

How can this be explained?

"It's sitting on a desire to be better parents than they think their parents were for them, to give their children things they didn't necessarily get from their parents," explains psychiatrist Ilan Rabinovich.

A place to concentrate on abstract concepts such as creating quality time together with the toddler, investing in play and learning, embracing and listening, acknowledging his needs and not necessarily the basic physiological ones, the culture of abundance and consumption flourishes here.

Sophisticated marketing psychologies of luxury stores for toddlers' needs that have made expensive consumer products a "must" in raising toddlers. The desire to be good parents translates into money, a lot of money. A baby without a shiny brand stroller that costs thousands of shekels will grow less well? saved?

"Of course not," says Rabinowitz, "the young parents come to greet and leave cursing, spending huge sums to create an overdraft in the bank account which causes stress and tension marred the atmosphere that the child absorbs at home and need to work overtime as the child has less time parent."

If the changing table is less expensive, will the child experience deprivation?

And what about the second and third child?

Will you necessarily be required to spend the same amount?

The calculator of the Ministry of Finance does not address this aspect, but from conversations we had with experts in the field of family economics, it appears that the amount is significantly lower.

"In the first child we invested a crazy amount of almost ten thousand shekels just on the bed. My wife wanted the best quality that can only be found and I flowed with her, and she was really stunning, but for the second child we found a similar bed, which costs 4,000 and does the job perfectly," says Walla!

Business Ron Abramson.

This is just one example of parental disillusionment and the realization that quite a few of the purchases can be made.

For example, in a post posted on one of the largest Facebook groups in Israel with more than 100,000 mothers, one of them wrote a list of the unnecessary products she avoided buying for the other child, which led to significant financial savings.

She mentions a tin for diapers, a thermometer for the bath, a wipe warmer and a box for pacifiers as unnecessary accessories that will leave you with more money in your pocket.

Admittedly, this is a relatively low cost of any such product, but they pile up a significant amount, if you also give up buying shoes for six months or, for example, a 'princess bath' that easily costs hundreds of shekels.

The 'birth package' - the same concept coined by the marketing networks that use the basic need of pregnant women to 'nest' and prepare the house optimally for the arrival of the baby, also takes on a completely different meaning with the other child.

In the post, which received hundreds of enthusiastic responses from group members, the mother writes that there is no need to purchase a built-in birth package, certainly not before birth and before considering the baby's preferences and needs and especially given that most products will only be used for a few months.

The cart does not actually save

Another issue that came up in another post is the price parents pay for trying to cut costs and the high price they pay for it, especially when it comes to a component that could be passed on to the next child, but due to its accelerated wear and tear, they were required to purchase it again. For example, the mothers in the post mark the baby carrier and stroller as two elements in which it is better not to purchase a very cheap product. Many also mentioned the tricycle as an expense that can reach a considerable amount, but in the test of time, it turns out to be particularly worthwhile, especially when there are those who eliminate the need to purchase a stroller at the same time, thus increasing the savings line more.

"I, for example, bought the first child a tricycle and paid him something like 700 shekels and after a year and a half he went to Pipe. With the second child I no longer made that mistake and bought a more expensive product but a fact - it also lasts with the third child. I would try it Even with the fourth child, but who has the money to have 4 children? " Dina Ben Gigi writes.

whom? At least to 157,286 millionaires, as of June 2020. According to Credit Suisse, the wealth value of each of the Israeli millionaires is $ 3.33 million (net less all liabilities and loans). And how big is the gap between the cost of raising children when money is not a variable at all within the priority equation? The Ministry of Finance has an answer. According to his data, the total cost for the first year in such a case is NIS 192,500, of which the initial expense amounts to NIS 56,900 and a monthly expense in the amount of no less than NIS 11,300.

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Source: walla

All business articles on 2020-10-25

Raising a child is expensive, but it's also your fault - Walla! Business

Raising a child is expensive, but it is also your fault

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