The cost of kids

I'd like to think that we are middle, middle class in the socioeconomic scale of things. Our home is small and not paid for. Our vehicles are one semi new (not paid for) and one 9 years old and limping. We have had one big 'vacation' as a family. Our kids have an Xbox and games but not 3 different systems, fancy bikes, trampolines etc as most of their friends/classmates do.

We pay our bills and they are dressed nicely but certainly not high name brand.

The older is an athlete. He plays hockey, soccer and school sports, the former at a higher level which has extra cost. The younger is a scholar. He sometimes plays soccer and he curls but he is not an athlete by any means. He plays in school concert band. They both are in Scouts.

They do not suffer by any stretch of the means but they do see quantative differences between themselves and others they know, both above and below financially.

We pay a good chunk of cash for their activities. We don't do a lot in the 'entertainment' budget as a couple/family so this replaces it in many ways.

It is absolutely frightening when I add up costs for them. Fees, rentals , equipment, travel, hotel (for the overnight tournaments), 1 week each of camp in the summer etc. They have activities after school but they are not overly scheduled and still have time to hang out at home or with friends and be kids.

A couple years ago I started a separate account for funding part of their activities. I just got tired of dreading sign up times or fees as there never was anything spare in my regular budget. This account is purely for their activities and covers about 50 to 60% of them in the year, depending on the year. Each month on payday I write myself a cheque to 'the boys' account, which is in a different bank and in goes $300. I don't touch it for household or groceries or gas. It is just money I've trained myself not to access except for these things.

I may not be very financially smart, but for our situation, this is one of the best decisions I have ever made. I know how much is there and during the down months, I can build up the balance for those big pay out times such as the August to October fee times.

I am very fortunate I can do this though it does mean scrimping in many other areas. I see enough kids on the streets causing havoc to know that there is an even higher cost to parents/families who aren't able to put their kids in activities/community centers/church groups/quality family time. These forgotten children, at least around here, end up in trouble with the law.