If just one child costs an average of $13,000 during the first year of its life, then how will Nadya Suleman, the mother of eight newborns (plus six older children) manage to feed, clothe, and educate her kids?
Most families can prepare financially by saving up at least $5,000 to $10,000 for baby-related costs, practice living in a way that allows them to save $1,000 a month (the average cost of child care), and building up an emergency fund for at least three months of living expenses. In theory at least, Suleman has another tool her disposal: Celebrity status. She could try to go the way of Jon and Kate Plus 8 and The Duggars, who star in their own television shows.
But signs so far suggest it will be difficult for Suleman to make much money off of her now-famous story. For some reason -- is it because she's a single mom? Because she already has so many kids? Because she lives with her mother? -- Americans have reacted with more anger than sympathy. Jezebel reports that Suleman's own mother has been publicly criticizing her, while the New York Times notes that large families in general have come under fire from judgmental strangers. For some reason, people have shifted from embracing large families to being skeptical of them. (Although no one seems to mind when rich celebrities like Angelina Jolie and Brad Pitt develop a large brood -- maybe because they can easily afford it.)
Judgment aside, do any parents have financial tips for this mother? Any savings tips that apply to cooking and shopping for 14?
Petronella of MS @ Apr 06, 2009 21:25:27 PM
sarah @ Apr 03, 2009 17:58:14 PM
liz of CA @ Mar 19, 2009 19:40:26 PM