1. The cost of a child. Unearned social security credits
In her book The Price of Mother hood, Ann Crittenden claims the total cost for a college-educated couple ot have a child is $1 million over the child’s lifetime. The items below are the costs of a college educated women who has a child. Classify them as implicit or explicit:
Unearned social security credits
Forgone promotions
Salary while not working
Expenses for baby’s room
Loss of experience at work
Depreciation of work skills
Food, clothing, and diapers for the child
Loss of pension benefits
Awards given for excellence in your paid job
Babysitting fees
Preschool expenses
Loss of matching employer contributions to retirement account
Medical expenses
Lost training opportunities at work.