Summary

Cheaper by the dozen may have been the truism of the 1950s and earlier, but the presence of even one young child (under six years old) has a tremendous impact on a household's finances. No matter if you have that child in your twenties or wait until you're thirtysomething: The child changes your life. Understanding the impact of young children on a household's financial status, its investment decision making, and its credit use and insurance needs enables financial institutions to introduce new combinations or modify existing products and services to serve this important market better.