Friday, March 9, 2007

Having Kids Saves Us Money

When tax time hits, I always try to convince my husband that our kids really don't cost us much because we save so much in taxes! Sometimes, I even go so far as to tell my husband he is saving money by having so many children. He just goes into a hysterical state that I can even think such a thing and think it could actually be true! (And I do actually think that by the time the seventh child is added and they are sharing a bedroom and wearing hand-me-downs and we are buying in bulk and we get that wonderful $1,000 tax credit per child along with the standard deduction, and they are out of diapers and don't need daycare and are not yet in school . . . I actually do believe that we come out even.) Yes, I hear you laughing. Yes, I know that means I am talking about a period of exactly one year. But hey, I can still uphold my end of the argument!

But now I have a new thought. Let's pretend my husband is right and it actually does cost what all those crazy researchers say it costs to raise a child. I just read it costs $15,000 per year to raise a child. If this is true, I am actually saving money by adopting a child internationally.

Now, I better make sure I brush up on my CPR before my husband reads this blog because he knows as well as I do that our last child, who arrived through birth, cost us a whole $100. He is going to keel over and die if I go into a tirade of how we are saving money by adopting internationally, after we just wrote that last check to Holt for . . . well, I can't even bring myself to say it. But, it's true!

Costs for an international adoption run upwards of 25K depending on the country and several other factors. I am not including travel fees because that is just a vacation (another point my husband adamantly disagrees with, but let's pretend he does, for the sake of my great argument.) The IRS offers a $10,600 tax credit for adoption and our state offers an extra $1,500. Okay, so we already have the cost of adoption down to less than 13,000. Okay, here's the kicker! Since the child is usually around a year old when coming home, and those researchers say it costs 15 K for each year, we have just SAVED money. Since we are adopting a child around the age of four, we are coming out way ahead. Of course, there are all those travel costs, but remember? That's a vacation!

(And no, honestly, I do not think that spending two weeks+ in a hotel room with a grieving, confused toddler; while simultaneously leaving my other children at home is really a vacation, but let's stay in happy-land for my great argument here.)

See? Having kids saves us money! (Just don't look at our orthodontist bills.)

No comments: