The $400 Phil and Ted’s Stroller - Dissecting The Purchase

Posted on April 28, 2008

Sticker shock. That is probably your first thought, I know it was mine when The Happy Rockette first told me about the stroller. A little more than 3 months later, we own one! See the picture below for a quick look or click here for an in depth look at PhilandTeds.com.

Here are the criteria I used to evaluate the purchase and why I think it was a great purchase:

Pay Cash. The Rockette had been working every other Saturday to help out at her former job and decided she wanted that extra effort to go towards something. We had the money in two weekends or so. That month gave us some time to do some extra research and really get behind the purchase.
Aligned With Our Values. Being in a small condo, going outside is a must. We love going the park and hiking the trails, walking the boardwalk, going to museums, etc. With the addition of Pebble Jr. two strollers just made everything much more of an ordeal. The purchase would help us cope with a small house, provide us with much more convenient time outside, and contribute to the positive welfare of our children.
Get Good Value. Could we have gotten a $200 double stroller? Sure…so that what did we get for the extra $200 dollars.
- When we went to the store to check the stroller out in person, it was quite apparent that this stroller had years of research and design put into it compared to the other double stroller. It folded up smaller then our current one seater. Size is a big deal for double strollers. It provided multiple child configurations that accommodated our baby and a toddler all the way to two toddlers. The current setup has the Pebble Jr. laying down, and the Big Pebble perched on top. There was even enough room to change the Pebble Jr. which has come in quite handy. Handles are adjustable, covers and rain protectors are easy to use and store nicely, it is easy for The Rockette to push, and the list goes on. The value is in the design.
- Pretty much everyone who owns a Phil and Ted stroller raves about it. Not in an I drive a BMW or Mercedes kind of way, but in a “it’s made my life so much easier” way.
- The resale value on used strollers was not much less than brand new, usually $300 or more. This is an indicator of people’s willingness to pay and the quality of the product. It also helps justify the purchase to know that you can unload the stroller and get a decent portion of the purchase price back.
Get A Good Price. We searched for about a month until with found a new one for $399 with free shipping from Pish Posh Baby. I even emailed to see if there were coupons available, but they didn’t respond until they included a coupon code for pishposhbaby.com with my order. You can get 5% with the code Save5 though 5/30/2008.

So far we are very happy with our purcahse, even though I still have a little sticker remorse from time to time when I realize the the stoller is almost worth the same amount as my car. What do you think? Am I crazy and just justifying a silly purchase?

» Filed Under Cash, Children and Money, Spending

How Much Does Adoption Cost? – Less Than You Might Think

Posted on January 23, 2008

The average infant adoption in the US can vary from $5,000 to $30,000 and on average costs $15,000 - $20,000. Our two newborn infant adoptions cost us about $11,000(0 after credits) and an estimated $15,000($2,000 after credits). This article will not break down the different costs associated with adoptions, but it will list multiple ways that adoption expenses can be considerably lower than those numbers suggest. I am speaking from experience since the expenses of our first adoption were more than covered by the programs/tips below.

First and foremost, the Federal Adoption Tax Credit that was signed into law by George Bush in 2002. The adoption tax credit offers an $11,390 tax credit in 2007 for qualified expenses on all domestic and foreign adoptions. For us, we were able to use all but $200 of tax credit in one year with some special planning. The credit alone covered almost all of our adoption expenses. The big downside is that the credit often comes a full year after you incur the expenses. About.com does a nice job explaining the adoption tax credit.
Adoption Subsidies. Any child adopted out of the United States foster care system with special needs will receive Medicaid and a monthly subsidy based on the severity of the disability. The average subsidy is about $350 a month. With this government bill the US government is able to save billions and provide better care for our children at the same time. Adopting.org provides a nice overview of subsidies.
Employee Adoption Assistance. You mileage will vary from company to company, but many companies have programs that will provide a cash assistance payment for adoption. The programs seem to be rarely mentioned and remain buried in a manual sitting in an HR office somewhere. Rules and benefits will vary, but my company provides employees with up to $2,000 per adoption. One painless form and a copy photocopies and we were awarded the full $2,000.
Medical Costs Related to Pregnancy. Again, the amount mother’s will have pay from conception to birth will vary greatly depending on your health coverage and area, but they can often cost people thousands of dollars. There is no need to worry about things like co-pays and partial covered hospital visits procedures when adopting.
Physical Costs of Pregnancy. These would include lost productivity for the mother, lost time at work, and any medical complications that may arise.
It’s just plain worth it. This isn’t a savings per se, but more of a perspective shift that makes any money you have to spend pale in comparison to the experience. If you are fully committed to providing a loving household for a child who may not otherwise be given that opportunity, than the monetary side of things tends have less sting. Also along these lines, many people often support your actions and are willing to help out in ways that you don’t even expect.

That list might be longer than you thought it would be, given the huge numbers that are often thrown around for the cost of adoption. I hope it helps provide a clearer picture of the true costs of adoption. Let me know if I missed any, or your thoughts.
Source : Adoption Guide

» Filed Under About Me, Children and Money, Money Savers

The Cost Of Having Children

Posted on November 28, 2007

A year after our son joined our family, I remember looking back over our budget and being amazed. Nothing had changed!!!

How could that be? We had host of new expenses like a $100 every few months formula, yet the amount we could put towards debt and save each month hadn’t really changed.

What happened was that having a child changed our priorities. Things like going to dinner and a movie disappeared and the money was routed to more important places. No longer was getting new coat important. I would rather stay home with my family instead of going to a Phillies game. Because this unconscious change in priorities, we had same amount of money was going out each month, but where the money went was affected by our new priorities.

The best part is that I would pay all our extra money each month just to retain the endearing smile that crosses my face every time I think of my son. So far, being a parent has been easier and more wonderful than I thought. I wasn’t able to account for the depth of love and devotion that forms between a parent and a child. I would be willing to sacrifice a bunch of money each month, but it turns out that I don’t have too!

» Filed Under About Me, Children and Money

Change Your Child’s Genetics By Giving Up The BMW

Posted on October 18, 2007

We recently talked about financially changing your family tree as financial motivation, but for those of us needed some more convincing here is evidence that our decisions about money go much deeper than just dollars and cents. Our choices are crucially importance to our children and this offers early stage evidence that our choices can cover over ‘bad’ genetics.

The researchers “studied 109 children who had been removed from their parents’ care due to reports of abuse or neglect and 87 control children with no reports of abuse or maltreatment.” The children also had two gene polymorphisms that put them at a greater risk for depression. The researchers also assessed each child’s support system and assigned each one a score for their support system quality .

I picked up three import things from the recap of the study. First, the effects of the depression amplifiers only held true for the children who were abused and neglected. Second, children with strong support systems almost completely escaped the effects of the ‘bad’ genes. Third, genes alone weren’t likely to make a child depressed, but maltreatment alone can.

Picture the ‘bad’ genes as little seeds. Give the seeds water polluted with mistreatment and lack of support and the ‘bad’ genes flourish. Nurture them with a safe supportive water and the children could likely overcome the ‘bad’ genes. At least in this small study the age old question of nature versus nurture is answered. Nurture wins .

To me, this is truly amazing! Think about the implications. Does it change how important we view sacrificing the BMW and huge backyard, so that we can have a stay at home spouse. Do you have to work 60 hours a week to support your current lifestyle? Is your debt stressing your relationship with your spouse and your children? Maybe we are sacrificing too much? Maybe we should be giving more time and money to support those willing to adopt and provide supportive homes for maltreated children? Hopefully studies like this help to illuminate which decisions are the truly important ones in life. What do you think?

» Filed Under Children and Money, Living with Purpose, Materialism, Motivation, Serving Others

Raising Financially Savvy Children - Tips For Teaching Your Children About Finance

Posted on July 26, 2007

This is a guest post by Tehn Yit Chin over at @ Cheap as Chips, “a personal finance blog with an Australian spin”. Lend him some support by checking out his site.

We, as parents, have an enormous responsibility to our children. As soon as they are born, we are responsible for their well being. Initially, we give them care and ensure that they are healthy. As they grow, our responsibility shifts to their behavioral development, and one aspect of this is the way our children see financial matters being handled.

One of the ways that children learn is by copying. The child observes our actions again and again over a period of time, and they will start to copy our actions. When our children are in their toddler age, development of simple actions like learning to walk and talk are usually accelerated when there are other kids around for our child to copy.

The children also learn by repetition. Something that is performed over and over again will be ingrained in our children’s behaviour, almost like a second nature to them.

Our actions in the way we, the parents, handle money are also important as our children will be exposed to them, and will copy them if there are exposed to them over a long period. ie, If the parents are problem gamblers, there is a higher chance that children will be gamblers as well, or if the parents always uses credit irresponsibly, the child would probably behave likewise.

So what can we do to give our kids a better way of dealing with financial matters.

Involve the kids with financial decision making - When the children are able to understand, involve them in most of the day to day financial decision making. This could be simple things like a discussion with them on deciding on which type of bread to buy, or clothing from Target vs clothing from Calvin Klein.
Ask for the children’s input when it comes to setting up the family budget - The kids will want to be part of the the family budget. This will also show that their contribution in the decision making will not only affect themselves, but also the family as a whole. Make it a part of a family ritual, and make it fun for the kids.
Set up a savings account for them - A bank account for them is a real motivation for the kids as they can see the real results of the decisions made. A bad decision means that the account balance will go down, and a good decision means that the account balance will go up. Make sure that the bank account has the kids name on it so they understand that the bank account is theirs.
Reward the kids as you reward yourself - This will give the kids a targets to aim for, financially. EG, if the child wants to buy that comic book, ask the child to save for it from his pocket money.
Be upfront with them - Don’t colour the family financial situation for the kids as this may bring up false expectations in the kids. You know, if the family can’t afford to go on the big holiday this Christmas, let them know and the reasons why. Or if the big holiday is happening due to strong financial commitment from family, let them know that as well.

These are five items that I will provide for my son when he gets a bit older, (at the moment, he is only 21 months). My wife and I already have started a couple of these ideas, in particular the savings account. Remember to keep doing these things for an extended period; to be copied and repetition is the key.

By ensuring that your children are positively influenced, financial wise, we are preparing them for a much brighter future. Remember that we will not always be about or in a situation to help them out.

If you enjoyed the guest post, please consider checking out Cheap as Chips or subscribing to his feed.