What Eases the Financial Burden of Having Young Kids? Sending Them to School

December 19, 2016 | | The Wall Street Journal |

The financial burden of having young children can substantially lower a family’s income and increase its chances of falling into poverty.

But as children reach school age, that financial penalty decreases significantly, according to a recent study by the left-leaning public policy organization, Demos.

The study—titled “The Parent Trap: The Economic Insecurity of Families with Young Children”—found that families with children below the age of 5 have substantially lower incomes and higher poverty rates than those with no children at all, even after accounting for differences in age, race, education and partnership status. [...]

“What it comes down to is complete societal lack of support for families with young children,” said Robert Hiltonsmith, one of the study’s authors. [...]

“It’s no surprise to anyone that children are expensive,” said Amy Traub, one of the study’s authors. But what is surprising, she said, is “the magnitude of the [financial] impact and…the way families are better off once a child reaches school age.”