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Effect on family economy |
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>> Birth Control
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Note: Information provided on this page is for reference only, please seek medical assistance when in doubt
In the developing world, birth control increases economic growth due to there being fewer dependent
children and thus more women participating in the workforce. Women's earnings, assets, body mass index,
and their children's schooling and body mass index all improve with greater access to birth control.
Family planning via the use of modern birth control is one of the most cost-effective health interventions.
For every dollar spent, the United Nations estimates that two to six dollars are saved.
These cost savings are related to preventing unplanned pregnancies and decreasing the spread of
sexually transmitted illnesses. While all methods are beneficial financially, the use of copper IUDs
resulted in the greatest savings.
Further every child that gets added to the family adds to the family budget and in case the budget
of the family remains the same, it is compensated by cutting cost of the other members in the family.
The expanses which should have otherwise been used for the development of elder siblings now is shared
by newly added child and this hampers the overall development of elder siblings and is a leading cause
of poverty in many developing nation
The cost of raising a child is different from region to region and average spending on a child
is influence by overall family income. On an average the cost of raising a child from birth till 21st
year in developed countries such as USA, Canada, UK is about 350,000 USD while on lower end in
developing African countries is around 16,200 USD
The cost of raising a child is usually determined according to areas of expenditure, such as
schooling, higher education, health, food, housing, and clothing. Thought the newly added child in most
cases do not increase cost of housing as the rent on a home does not usually change when the tenants
have another child and so the total family's housing costs may remain the same. However in few cases
if the home is too small, in which case the family might need move to a larger home at a higher cost.
For any given families actual expenses may differ based on their standard of living.
Cost for raising child in developing countries is many times lower than in developed countries.
However the child born and grown in the developing countries on the average has less education,
health and shorter lifespan.
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