5 Expenses for kids that didn’t exist few years back - H&R Block| Blog

5 Expenses for kids that didn’t exist few years back

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5 Expenses for kids that didn’t exist few years back

Kids! A bundle of pure joy, a reason for happiness and something to look forward to all the time. They change our lives in a moment when they are born and become the center of our world instantly. Bringing them up in the best possible manner is every parent’s dream. Most parents do not even blink when they spend money in choosing the best options for their education, clothes, co-curricular activities and more.

Let us look at some expenses for kids in the new age parenting.

Summer camps and activity classes:

Parents now a days expect their children to be an ace at almost everything. Once the summer break starts, parents make sure that children are engaged in skill building activities like abacus, i-maths, sports, craft, drawing, pottery and the list just goes on. These also come at a premium cost of Rs. 2,000 to Rs. 4,000 per month.

Day care expenses:

Modern nuclear families in metro cities have both the parents working, in order to make for a good living in cities. This calls for availing the services of day care facilities to take care of kids. On an average good day care facilities cost up to Rs. 5,000 to Rs. 8,000 per month. Now that’s quite a bit.

Theme parties for birthdays:

Parents today leave no stone unturned to make their little ones feel special. One of the ways is to treat them and their friends to some really nice and happening birthday parties. Theme parties include theme dresses, theme accessories, entertainers for kids, special menus and these easily cost you a minimum of Rs. 25,000 per party.

Gadgets for kids:

Kids nowadays start their lives with smart phones and tabs in their hands at a tender age of 1.5 to 2 years. Mostly this is because their parents always handle these things 24/7. By the age of 5 they already get a tab of their own to keep them entertained and busy with entertainment and educational games of all sorts. These gadgets again cost you Rs.7,000 to Rs 30,000.

Times are changing and so are the rules of parenting. Even if these costs are optional in many cases the benefits of some of these cannot be overlooked. So choose wisely and remember that parenting is more about giving your children a good life perspective rather than a good life.

Neha Joshi
Neha Joshi
Neha Joshi is a Chartered Accountant and an Assistant Manager at H&R Block. She is the Head of Content and is responsible for strategizing the entire content for website, PR and social media. She comes with a rich experience in publishing where she wrote books for various international professional qualifications. She was also a trainer for the subjects she wrote.

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