Scott Burns argues that the main reason many young working families are broke is that they have children. The data in his column is revealing (and scary): if the cost of living of a young married couple is 100, having one child increases the index to 127, two children to 147 and keeps increasing as the children get older and peaks at 231 when the older child is 16-17 (Oddly the index decreases after the eldest child turns 17, presumably the kids are off to college by then and don’t rely on Bank of Mom and Dad for their tuition).

As new parents, we tend to agree with Mr. Burns. The bundles of joy cost quite a bit of money. But, we wouldn’t want to have it any other way, even for all the money in the world.