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lectur2-page9 - Saturday night in terms of an 18 year...

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Above, you see the cumulative totals. If you are in the $45,800 - $77,100 income bracket, and you are average, you will spend $204,060 to raise your child to the age of 18. Notice that these estimates do not include a college education, and they are not adjusted for inflation! These estimates are based on the value of a dollar in 2007. Will a year 2017 dollar buy as much as a 2007 dollar? Probably not, because inflation will erode the purchasing power of that 2007 dollar away over time. Any of you all starting to think about the consequences (potential cost) of a wild
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Unformatted text preview: Saturday night in terms of an 18 year financial responsibility before you are Saturday night in terms of an 18 year financial responsibility before you are adequately prepared to meet that responsibility? Ah, your thinking that this would not happen to you. Everyone I have known that this has happened to thought the same thing, and it is not a rare occurrence. The costs and benefits of our personal actions? Economics? Why understand economics economics? 9...
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