By: Olivia Rotondo
For Melissa McNamara of Norwell, Massachusetts raising a
family of six can be pricey.
The mother of six said hand me downs are a must to save
money.
“Having children is expensive, whether it be one or six.
From feeding them to activities to education, the cost to raise a family these
days is exorbitant. Groceries alone have become much more expensive,” said
McNamara.
Raising a child in the U.S. costs about $310,000 from birth
to age 17, with housing, food, and childcare being the biggest expenses.
Families with multiple kids spend even more, and college tuition can add
$10,000 to $40,000 per year.
McNamara said that everyday costs like clothing and
transportation add up fast. Her family uses a practical and resourceful
approach.
“You must be resourceful if you want to have a big family, we
cook in bulk, and the slogan around here is ‘eat it or starve,’” McNamara said.
Stonehill college professor Anne Mattina, who teaches Family
communications, said financial challenges can affect how families talk to each
other.
“Many people do not realize how much emotion affects their decisions
about money. Some people feel anxious about finances, while others keep money
matters privately. These differences ca cause misunderstandings,” Mattina said.
Education is also a major concern, especially since their
oldest child recently started college. When it comes to paying for college, McNamara’s
family sets clear limits.
“We decided to set a budget for tuition. We will help as
much as we can, but within our budget. Our kids must choose, do they want us to
help, or do they want to graduate with debt,” McNamara said.
Steve Darby from Kingston, co-owner of Forty Second Brewing
Company, knows the challenge of managing both business and a household.
“Balancing a day job, a business, and a family requires
clear priorities. You need to separate personal and business finances. Focus on
necessities, save when you can, and manage time carefully. Communicate with
your family so they understand that money does not grow on trees.” Darby said.
As children grow up, their financial needs change.
“For example, potty training saves money on diapers, but
then daycare or youth sports expenses begin,” Darby said.
To prepare for future expenses like college, he started
saving early.
“Even when times were tight, I put a little away whenever I
could. I chose saving over buying a new car or going on vacation,” Darby said.
Darby has a blended family with a total of four kids, two
are twins and sophomores at different universities.
He keeps business and personal finances separate.
“Separate accounts and credit cards for business and
personal expenses make things clearer,” Darby said.
For large families, being strategic is key.
“Recycle, reuse, repurpose. Pass down clothes and shoes, especially
when they are lightly used,” said McNamara.
Jordan Harrington, a junior at Stonehill College, grew up as
the youngest of six. She saw firsthand how her parents managed a tight budget
to support a large family.
“Growing up in a big family meant learning to share and
understanding that money had to be stretched. My parents budgeted carefully,
using bulk shopping and hand-me-downs to keep costs low,” Harrington said.
Some of the biggest expenses were food, housing, healthcare,
and education.
“Feeding eight people added up quickly, and school costs from
supplies to college tuition were always a challenge. My parents were strategic
and made sure we understood the difference between needs and wants,” she said.
Her older siblings took on part-time jobs to pay for their
own expenses, which helped ease the financial burden on their parents.
“Even if they weren’t paying bills, their financial
independence made a difference. I helped in other ways, like babysitting and
doing chores, since everyone had to contribute,” Harrington said.
Money isn’t just about numbers, it’s deeply personal and
emotional.
“Many people do not realize how much emotion affects their decisions
about money. Some people feel anxious about finances, while others keep money
matters privately. These differences ca cause misunderstandings,” Mattina said.
Parents may try to protect their children by hiding financial
struggles but that can lead to fear and mistrust.
“While it is important to set boundaries, hiding the truth is
not helpful. Parents should share age-appropriate information, so kids
understand the situation,” said Mattina.
Younger generations face new challenges, especially when
trying to become independent.
“More young people live with their parents because they cannot
afford to move out. This can delay adulthood for them and create finical
pressure on their parents,” Mattina said.
For families like McNamara and the Darby’s, managing finances
requires planning, resourcefulness, and communication.
“You must be resourceful if you want to have a big family,”
said McNamara.
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