Bill Belew has raised 2 bi-cultural kids, now 34 and 30. And he and his wife are now parenting a 3rd, Mia, who is 8.
How much does it cost to raise a child? | Where does the money go?
Would you like to peak into somebody else’s bank account to find out how they spend their money?
Would you like to know how much money people spend on their kids?
Daddy found this breakdown of how much money is spent raising kids in UAE. And what percentage is spent on what.
Believe it or not, the average family in Dubai spends $310,000 on a kid from zero to 18-years old.
A full one-third $110,000 is spent on education. And they are not in college yet!
About $80,000 is spent on childcare and babysitting.
$40,000 is spent on toys, hobbies and goofing off.
$28,000 is spent on food.
$15,500 is spent on clothes.
Another $15,500 is spent on birthdays.
$13,000 is spent on vacationing.
And the child is given $6,000 for pocket money.
Hmm… I wonder if I can have my $6,000 now. I will collect the interest off it and go shopping for other things I need, um, want and still have the $6000 when I am older.
You see my mommy is teaching me how to handle money well.
I wonder if she’ll give me more up front so I will have more later to manage.
Talk to Bill and others about their experiences raising bi-cultural Japanese-American kids.