Parents Save BIG $ By Lying About Kids' Age

posted by Hoss Michaels -

Having kids is expensive and a new report from NerdWallet reveals how some parents are helping cut costs -- by lying about their kids’ ages. Yes, some moms and dads are telling little white lies to save on stuff like movie tickets, amusement park  admission, and restaurant meals. Only one in three parents admit to doing it, but there could be a lot more shaving years off their kids’ ages to save a few bucks.

NerdWallet surveyed 1,200 parents about their summer spending plans and found moms and dads of kids from three to 17 expect to spend about $471 per kid on average this year. The four in five families planning to take a vacation this summer plan to spend $2,256 on average. And parents also plan to run up an average of $1,019 on their credit card this summer, so it’s no surprise they want to save money by taking a  year or two off their kids’ ages.

The survey shows that employed parents are more likely to lie than those who aren’t working (34% compared to 24%) and millennial moms and dads are more likely to lie than Gen Xers (50% vs. 32%.) But those are just the ones who’ll own up to the practice.

“Only one in three parents admit to it? Please … Any chance I get to save a buck, I take it. Period,” explains Doug, a New York City dad. “No I have no guilt about trying to save a buck.”

Source: Moneyish

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