One of the most difficult aspects when it comes to being a parent and your finances are the trade-offs that you will have to make. It can be difficult because you want to provide the best opportunities for your children, and in some instances that can involve a lot of money. Additionally you may feel torn because you are not giving your children the quality of time that you feel they deserve.
Your career choice may also be affected by your decision to have a family. You may choose to take a less competitive job so that you can spend more time with your family. Or you may find that you are passed over for promotions or raises because you spend less time at work than others do. You may feel pressured at work as well, because your boss or co-workers may feel that you are making the wrong decisions when it comes to your career.
Your choice to have a family is going to have an impact on your finances, your career and the amount of wealth that you accumulate over time. While those who choose not to have children may see these impacts in only the negative light, it is important to determine if the trade-off are worth it to you. You can also look for solutions that may lead you to a career or job situation that you may find more fulfilling. You may learn to manage your money more wisely, and end up saving more than you would have if you had opted to stay childless.
The choice is up to each individual, but, personally, I have found that my children are worth the sacrifices. I may not be able to send them to private school or enroll them in expensive extracurricular activities, but I can still provide them with enriching activities. I also am able to give them a loving home and encouragement.
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