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[Foffy]

Glad to know I'm better than 78% of America

I would still imagine you're a member of the precariat.

If one mistake can have you fall on razor blades, you are a precariat. Double so of nations with dogshit safety nets.

If you're American, unless you are a straight up rentier, you're a precariat.

 

[Amibguous Cad]

This doesn't really pass the smell test.

78th percentile of yearly income is ~$70,000, according to https://dqydj.com/income-percentile-calculator/

Either there's a problem with the survey or there's an epidemic of financial mismanagement among the middle and upper middle classes. I'm betting on the first.

I would still imagine you're a member of the precariat.

If one mistake can have you fall on razor blades, you are a precariat. Double so of nations with dogshit safety nets.

If you're American, unless you are a straight up rentier, you're a precariat.

This is absurd; a person making $50,000/year with health insurance is not a member of the precariat (and isn't a rentier).

 

[Somnid]

This doesn't really pass the smell test.

78th percentile of yearly income is ~$70,000, according to https://dqydj.com/income-percentile-calculator/

Either there's a problem with the survey or there's an epidemic of financial mismanagement among the middle and upper middle classes. I'm betting on the first.

Or necessities have just greatly increased in price. People would rather get that studio apartment than have 3 roommates, they want to have kids, they have a $600 a month bill for that Psychology degree they can't default on. Money doesn't go as far as it used to, especially if you live in a place where rent hikes are in double digit percents.

 

[dead souls]

Because that's essentially slavery.

Lol. Most people would kill for 10% of what the top 1% makes.

 

[thechristoph]

Or necessities have just greatly increased in price. People would rather get that studio apartment than have 3 roommates, they want to have kids, they have a $600 a month bill for that Psychology degree they can't default on. Money doesn't go as far as it used to, especially if you live in a place where rent hikes are in double digit percents.

Seriously. It just gets more expensive to live every day. We all got worked by the oil "shortage" during the early 2000s. Gas got crazy expensive, the costs of goods exploded (or package sizes shrunk forcing you to buy more), the recession happened and ended, and things never went back to normal. Prices never went down. The 99c bag of rice from 2004 is $2.19 now. Gas was like $1.30. Now we dance in the streets when it's under $2.30 or so. We allowed normal to be reset in the wake of 9/11 while profits continue to soar and wages remain flat.

 

[Slime]

Soon. It just needs to get to a point where the majority of the poor feel like they have nothing left to lose.

The American poor has been so brainwashed into despising labor movements and buying into the myth that they'll get rich someday through the magic of free-market capitalism, the current trend of populist far-right insanity is probably is that "nothing left to lose" moment.

I honestly think the effectiveness of Cold War-era fearmongering and right-wing propaganda, combined with decades of Republicans and Democrats telling us that conservative economic policy is the way to go, has basically killed any chances of a left-driven solution to the country's economic woes.

Americans are convinced that, no matter how much the wealth gap grows, receiving a handout or help of any kind is embarrassing and un-American. They think government intervention in the economy is a slippery slope and that regulation is what caused the economic crisis in the first place.

It just seems so far-fetched to me that this America could ever go to the polls for progressive taxation or an expanded social safety net. They'd rather turn to fascism and burn it all down. Maybe in 100 years, if democracy is still a thing.

 

[Morrigan Stark]

Must read article, on topic:

People Who've Never Lived in Poverty Should Stop Telling Poor People What to Do

But after graduation — when the student loan envelopes started showing up and I had to move out of my inexpensive college town to a city that actually had jobs — the situation was dire. But I knew how to handle it.
Every month, I’d scrutinize my budget, looking for things to trim or ways to increase my earnings.
I moonlit as a cocktail waitress. I considered selling plasma (again), but the bus ride to the clinic was too long to fit into my days. I didn’t have a car or health care (or a stove). I picked up odd jobs on Craigslist, receiving cash under the table for nights of cocktailing or working as a cater waiter. I visited food banks. I never bought clothing. I stopped shaving to save money on razors.

I am very, very confident that I did everything in my power to provide myself the best life possible as a young adult, and that the choices I made were the correct choices. My life now would indicate that that’s the case. And still, without fail, when I tell someone or write about that time in my life, I’m met with a cascade of advice.

That subtle tweaks to my budget could somehow stretch my $9.50 per hour. I should have gotten a roommate. I should have lived somewhere cheaper. I should have found a better job.
Anyone who’s ever lived in poverty has probably had this experience.
In the U.S., we have become so accepting of the fact that poverty is not a symptom of a grossly unequal economy, or the result of numerous systemic failures, or the product of years of trickle-down economics, but instead, that the only thing standing between a poor person and the life of their dreams is their own decisions, their own choices, and their own failures.

These changes seem simple — if you just spent less money on groceries, you’d have more money! If you didn’t have a car, you could save hundreds on car insurance! — but they fail to take into account one crucial element of humanity and existence: The dollar amount of a thing doesn’t fully capture the value of it.
Most people who live in poverty are working jobs where their income is determined by how many hours they can spend on the job, which often don’t fall within typical commuting hours, and often run well over forty hours per week.

I’ve written before about the actual cost of moving — renting a truck, putting down a deposit, the financial hit of taking time off work to move — but recommending that someone relocate their entire life to save on rent also neglects to account for the real value of living in a place with a support system.

To illustrate this point, let’s use another common tip: giving up a car.
Access to transit is one of the single biggest investments that communities can make to help people get out of poverty. But overwhelmingly, transit systems are failing poor people.

Which means that the cost (both figurative and literal) of giving up a car might be steeper than keeping it. Which means that even if a person makes the choice to save money by riding the bus, the bus may not be there for them.
There’s also the issue of time and convenience, particularly if you live in a smaller city, which tend to have much spottier bus service.

Get rid of your car” is a fine piece of advice in a vacuum, but when it’s coupled with “drive for Uber to make extra money,” you’ve now prescribed something that’s literally impossible. “Spend less on groceries” is fine on its own, but if you’re also recommending that someone switch to commuting by bike or bus and move to a less dense place with fewer food choices, you’ve now quadrupled the daily difficulty of their life.

Regardless of the personal choices a family might make to save money, there are some unavoidable costs that are baked into our financial and social systems.
Overdraft fees, late fees on missed bills, high-interest credit card fees, and payday lenders are just a few ways that poverty begets higher expenses. The average payday loan borrower — who is usually short just a few hundred dollars between paychecks — ends up paying more than 300% interest on their initial amount.
These companies make billions each year by offering people a necessary service that costs them an outrageously inflated price.
Banks also find ways to capitalize on people without money. Many checking accounts require that a person carry a minimum balance — and fine customers for every month that they don’t meet the requirement.

When the infographic said that a person “can’t earn minimum wage and live in an expensive city and be wealthy,” they weren’t telling a lie — but they were accepting implicitly that it’s okay for people who work full-time to live in poverty if they live in large cities.
Imagine if everyone took that advice — if every person working minimum wage up and fled all of the major cities to go live and work in smaller markets with less expensive rent. Cities literally could not function.

(more at the link, it addresses the effect of racial discrimination, mass incarceration, and other factors on economics and poverty)

What percentage of Chineese, English, French, German and lets say Sweedish populations live paycheck to paycheck?

I'd be curious to know that, but I'm willing to bet it's nowhere near 78%...

 

[Unknown Soldier]

The American poor has been so brainwashed into despising labor movements and buying into the myth that they'll get rich someday through the magic of free-market capitalism, the current trend of populist far-right insanity is probably is that "nothing left to lose" moment.

I honestly think the effectiveness of Cold War-era fearmongering and right-wing propaganda, combined with decades of Republicans and Democrats telling us that conservative economic policy is the way to go, has basically killed any chances of a left-driven solution to the country's economic woes.

Americans are convinced that, no matter how much the wealth gap grows, receiving a handout or help of any kind is embarrassing and un-American. They think government intervention in the economy is a slippery slope and that regulation is what caused the economic crisis in the first place.

It just seems so far-fetched to me that this America could ever go to the polls for progressive taxation or an expanded social safety net. They'd rather turn to fascism and burn it all down. Maybe in 100 years, if democracy is still a thing.

100% this.

"Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires."
- John Steinbeck

 

[hateradio]

The American dream is to believe you are a millionaire already. 😎

 

[eot]

What percentage of Chineese, English, French, German and lets say Sweedish populations live paycheck to paycheck?

Only figure I could find for Sweden was 43% "Most months or every month" from 2012

 

[Hyun Sai]

100% this.

"Socialism never took root in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires."
- John Steinbeck

Spot on.

 

[milanbaros]

In Florida apartment rent is actually more than what a monthly mortgage is. I pay $300 less with a house compared to what I had to pay in an apartment. Landlords keep jacking prices up every year.

With 0% deposit? That's an outlier. If it is with a deposit then of course it would be less as you're renting/borrowing less, right? Unless I'm misunderstanding something.

 

[milanbaros]

There is also the issue that Americans and Western Europeans are competing in a global workforce and in that context are overpaid. This has to have a downward pressure on wages.

 

[Nerazar]

Spot on.

It is spot on, but look at socialist countries and tell me that their solutions work. I am glad that Socialism did not take root in the US.

That being said, there is Socialism (very bad) and social economic policies (very good). If Americans were to install a safety net for people in need, "economic anxiety" wouldn't be a thing and right-wing populism wouldn't stand a chance. What we have in many European countries, for example, is not Socialism in any way or form. But it's fairer system (even though many are working against it) which shields the disadvantaged at least a little bit.

But if guaranteeing a good life for people is not seen as the government's job, then the threadmill will continue on and on.

 

[ZackieChan]

Dat precariat.

Sooner or later this shit is gonna collapse, and it will not be good at all.

I could almost feel you getting aroused by the thread title alone 😉

 

[PabloBolivar]

It is spot on, but look at socialist countries and tell me that their solutions work. I am glad that Socialism did not take root in the US.

That being said, there is Socialism (very bad) and social economic policies (very good). If Americans were to install a safety net for people in need, "economic anxiety" wouldn't be a thing and right-wing populism wouldn't stand a chance. What we have in many European countries, for example, is not Socialism in any way or form. But it's fairer system (even though many are working against it) which shields the disadvantaged at least a little bit.

But if guaranteeing a good life for people is not seen as the government's job, then the threadmill will continue on and on.

There are a lot of safety net in America. It works well but anything could be better.

 

[El_Tiguere]

The American dream is to believe you are a millionaire already. 😎

Speaking of, homeboy Chomsky has one of the better video documentaries on why the American dream is kaput and the sources of our wealth inequality.

Everyone should watch Requiem for the American Dream documentary on Netflix.

 

[IISANDERII]

Why the 1% is not taxed at a 90% rate I'll never understand.

Because they don't want to and have plenty of power to influence policy and law. America is not a democracy and hasn't been for many years.

 

[DurielBlack]

Yup.

I got laid off from a job last year that paid 47k, but it was an older company that actually paid severance for several months instead of just kicking you to the curb overnight like most.

Was making 47k/year and doing well financially with that (single, live at home with parents, so I pay a paltry rent). I still have a stupid school loan.

I got a new job in 3-4 months, 50k, but now its inside city limits so I actually make LESS money due to taxes. On the "bright" side I bid low to get the job (most positions I saw listing pay for this kind of job go anywhere from 60-120k) due to a lack of experience.

Over a year in and I haven't gotten a raise (because I was hired mid-year and they don't do raises based on hire date). Best I hear you can get anyways is a meager 2%, which is less than double what I was getting at my old job every year. Most co-works said raises are on the order of 1-1.5%.

I'm doing a little better than breaking even, and regular raises aren't going to make much difference. Hoping I can get a promotion in a year or two and get a noticeable jump.

Hard thing is I have a crapton of money in an account from general savings over the years + the severance I got. I'd like to get a new car or do some other sensible things that need doing, but any time I take money out I know I can't replace it. Not even sure I could afford a new car payment since my old one is paid off. Hoping it holds together for a couple more years.

 

[Renekton]

The American poor has been so brainwashed into despising labor movements and buying into the myth that they'll get rich someday through the magic of free-market capitalism, the current trend of populist far-right insanity is probably is that "nothing left to lose" moment.

Isn't this the #1 defining trait of America - the American Dream?

 

[The Albatross]

Not surprised by this.

My wife and I do pretty well by any standard, and while we have some savings now, if I lost my job, we'd be pretty fucked very quickly. Living paycheck to paycheck does not mean you're broke, struggling, or low income, it means that if suddenly you lost your paycheck you would have very little safety net. Many people might think "Oh, I don't live paycheck to paycheck," because they associate that with the idea of someone sitting at a bare table scratching together some pennies to pay an overdue water bill while the Landlandy is banging on their door for rent and two naked babies are crawling around on the dirt floor. But if you ask them, "If you suddenly lost your paycheck tomorrow would your life dramatically change," and the answer for many would be "Oh, of course, obviously."

 

[nel e nel]

Why the 1% is not taxed at a 90% rate I'll never understand.

Lobbying.

 

[Hoo-doo]

Damn, that's incredibly sad.

And to think that the majority of the country actually wants to keep this status quo.

Temporarily embarrassed millionaires indeed.

 

[Condom]

Let's not forget the fight from the US government against Unions and social movements. The US poor didn't get a chance to organize.

While in Europe social movements played a role in getting benefits, in the US they were given directly from within the two party system to compete with the USSR (afaik) and taken away once the competition was less fierce.

 

[Supast4r]

The US really is a third world country isn't it

I would say that it's more of a serf system.

 

[kevm3]

Personal finance classes or learning to save da money won''t do anything when the price of everything is shooting up... education is horrendously expensive... insurance is expensive and you get fined if you don't have it... rent or a mortgage is outrageously expensive in some parts of the country, so those fleeing from those areas go to other areas and make the rents shoot through the roof as well. You simply can't save anything when you get tiny raises and yet the essentials fly up in cost. We are headed towards 3rd world status if things don't change.

 

[destrudo]

So, what are we going to do about it?

 

[The Albatross]

Let's not forget the fight from the US government against Unions and social movements. The US poor didn't get a chance to organize.

While in Europe social movements played a role in getting benefits, in the US they were given directly from within the two party system to compete with the USSR (afaik) and taken away once the competition was less fierce.

I think a lot of people forget that Labor became really unpopular after the link to organized crime was well established. You can basically follow the downfall of organized labor in the United States to the downfall of organized crime in the United States, the rise and fall of both are linked together.

The US has a sorry labor state today, but it's not for no reason. I mean, all evidence points to the most powerful labor union in the US assassinating the president in 1963.

 

[GatorBait]

You simply can't save anything when you get tiny raises and yet the essentials fly up in cost.

There are a lot of people that don't seem to understand this. When inflation is outpacing annual wage increases, your salary is actually "worth" less year-over-year. As insurance costs rise, you may actually end up with a lower net take-home amount in your paycheck year-over-year. Then you consider that your non-discretionary expenses have also increased (e.g., rent, food), and you end up with even less discretionary income compared to the prior year. Even if you were able to put money in savings or invest it, the amount that you could save could literally be decreasing year after year even if you maintained the exact same budget.

People can continue to tighten their belt or tug on their bootstraps, but eventually that just leads to their circulation being cut off and their bootstraps snapping in half. I have a feeling we'd have a ton more pissed off people if they realized their employer is valuing their work less over any period of time where their salary increases don't at least match inflation.

 

[……forgetit]

I would still imagine you're a member of the precariat.

If one mistake can have you fall on razor blades, you are a precariat. Double so of nations with dogshit safety nets.

If you're American, unless you are a straight up rentier, you're a precariat.

Car trouble could fuck me but that's about it, I have a decent amount in savings and both long term and short term disability insurance. Also I work in an environment where the only thing that would really stop me from doing my job is brain damage, so I guess I'm not a precariat?

 

[The Albatross]

There are a lot of people that don't seem to understand this. When inflation is outpacing annual wage increases, your salary is actually "worth" less year-over-year.

While this is true, wage growth has outpaced inflation year over year for 10 years. Wage growth and the consumer price index are typically driven by the same factors, and as little wage growth as there has been in this recovery, there has been even less inflation. Since 2012, inflation hasn't gone over 2.15% year over year.

This is one of the chief reasons why interest rates have stayed low, there has been almost no inflation in this recovery... which while good in some ways, can be a bad thing.

 

[G.ZZZ]

As a comparison, Italy, which is one of the worst economies of the EUzone and has recovered the least from the crysis has a 48,3% ratio of people living paycheck to paycheck and about 7% live below the poverty line, while a poor person in a welfare state has a vastly different experience from a poor person in the states. Also, the vast majority of italian poors are young people, which is depressing for the future:

No idea about other EUzone contries, should check some statistics on Eurispes.

 

[kevm3]

There are a lot of people that don't seem to understand this. When inflation is outpacing annual wage increases, your salary is actually "worth" less year-over-year. As insurance costs rise, you may actually end up with a lower net take-home amount in your paycheck year-over-year. Then you consider that your non-discretionary expenses have also increased (e.g., rent, food), and you end up with even less discretionary income compared to the prior year. Even if you were able to put money in savings or invest it, the amount that you could save could literally be decreasing year after year even if you maintained the exact same budget.

People can continue to tighten their belt or tug on their bootstraps, but eventually that just leads to their circulation being cut off and their bootstraps snapping in half. I have a feeling we'd have a ton more pissed off people if they realized their employer is valuing their work less over any period of time where their salary increases don't at least match inflation.

exactly.

 

[Somnid]

There are a lot of people that don't seem to understand this. When inflation is outpacing annual wage increases, your salary is actually "worth" less year-over-year. As insurance costs rise, you may actually end up with a lower net take-home amount in your paycheck year-over-year. Then you consider that your non-discretionary expenses have also increased (e.g., rent, food), and you end up with even less discretionary income compared to the prior year. Even if you were able to put money in savings or invest it, the amount that you could save could literally be decreasing year after year even if you maintained the exact same budget.

People can continue to tighten their belt or tug on their bootstraps, but eventually that just leads to their circulation being cut off and their bootstraps snapping in half. I have a feeling we'd have a ton more pissed off people if they realized their employer is valuing their work less over any period of time where their salary increases don't at least match inflation.

Wages and inflation are the secondary problem now, necessity inflation growth is near exponential versus general goods which is relatively linear. Healthcare costs vary wildly and are job dependent, cities have rent floors due to lack of units with new units being expensive apartments, parental benefits suck and aren't required, universities have forced a generation to borrow tens of thousands from their future stagnant wages. I'd go for these first and then decide whether it's worth the fight to raise wages (which is unlikely to happen in post-worker scarcity society) or just roll right into UBI.

 

[Brawly Likes to Brawl]

Damn, that's incredibly sad.

And to think that the majority of the country actually wants to keep this status quo.

Temporarily embarrassed millionaires indeed.

It'll all trickle down any day now!

 

[Rorschach]

The conservatives have convinced a large portion of the population to vote against their best interests. "Yeah, I'm poor now, but when I hit the lottery, I don't want the government coming after my winnings!"

 

[One Eyed Willy]

The conservatives have convinced a large portion of the population to vote against their best interests. "Yeah, I'm poor now, but when I hit the lottery, I don't want the government coming after my winnings!"

Not really at all, cool snarky comment though.

 

[Piecake]

As a comparison, Italy, which is one of the worst economies of the EUzone and has recovered the least from the crysis has a 48,3% ratio of people living paycheck to paycheck and about 7% live below the poverty line, while a poor person in a welfare state has a vastly different experience from a poor person in the states. Also, the vast majority of italian poors are young people, which is depressing for the future:

No idea about other EUzone contries, should check some statistics on Eurispes.

That doesn't seem to be comparing the same data.

You wouldn't consider middle class families to be 'poor', but they certainly could be living paycheck to paycheck due to their expenses.

 

[Super Mario]

Or necessities have just greatly increased in price. People would rather get that studio apartment than have 3 roommates, they want to have kids, they have a $600 a month bill for that Psychology degree they can't default on. Money doesn't go as far as it used to, especially if you live in a place where rent hikes are in double digit percents.

I strongly disagree with that statement that money doesn't go as far as it used to. Is that true in some areas? Well of course. Overall, it is nothing more than a scapegoat.

What we have today is way more choice, and way more "necessities". When growing up, our grandparents didn't have a fraction of what we have today. That is a fact. It can be hard to sympathize with some as they pay for new iphones with verizon, high speed internet and big cable packages, starbucks, cigarettes, bar bills, vacations, etc etc. The question is, where do we separate necessities from responsibilities? That question is not likely to be answered anytime soon.

Rent prices going up is a very subjective view into housing. When you look at the most desired places, they are obviously limited in space. Not only do you take into account inflation, but demand will cause the price to soar. (Extreme example I know) Take NYC, what price should that area have in relation to wages? What about when we double in population? There are many nice houses out there that people cannot sell it for what they spent 20 years ago. Interest rates are also plummeting. A fixed mortgage also does not go up in price. I will tell you rent is mostly a poor investment across the board.

 

[Aureon]

As a comparison, Italy, which is one of the worst economies of the EUzone and has recovered the least from the crysis has a 48,3% ratio of people living paycheck to paycheck and about 7% live below the poverty line, while a poor person in a welfare state has a vastly different experience from a poor person in the states. Also, the vast majority of italian poors are young people, which is depressing for the future:

No idea about other EUzone contries, should check some statistics on Eurispes.

Italian here.
Italy is a fucking gerontocracy with the best pension plans for the elderly in the world (as compared to general economic situation), plans that were grandfathered in and will never be available for the current youth.
Meanwhile, the pension tax is 27%.
Literally robbing the young to pay for the old.

Also, a fuckton more people than "earns under the poverty line" live paycheck to paycheck.
My parents inheredited millions and still managed to end up living paycheck to paycheck.

I strongly disagree with that statement that money doesn't go as far as it used to.

You... disagree with the general existance of inflation?
The main issue for nigh everyone is rent\mortgage, transportation, and food. "Luxuries" that are actually 1/20th of the budget aren't that relevant.

 

[MidgarBlowedUp]

What if we had universal free-ish healthcare and forced the federal minimum wage higher?

Like say $10 min wage and a tax forced on business and workers to help pay healthcare. Also force a small tax on employers to go towards increasing social security. Might want to cap drug costs too.

I'm so lucky right now that i have a pension, matched 401k, and healthcare through my employer. This stuff needs to be universal for everyone. There are plenty ways to do it inexpensively by government and businesses. But good luck with asking nicely.

 

[TurnipFritters]

What if we had universal free-ish healthcare and forced the federal minimum wage higher?

Like say $10 min wage and a tax forced on business and workers to help pay healthcare. Also force a small tax on employers to go towards increasing social security. Might want to cap drug costs too.

I'm so lucky right now that i have a pension, matched 401k, and healthcare through my employer. This stuff needs to be universal for everyone. There are plenty ways to do it inexpensively by government and businesses. But good luck with asking nicely.

Based on actual inflation, ten bucks minimum wage is about half of what it should be.

 

[SpartanN92]

Lol. Most people would kill for 10% of what the top 1% makes.

Most people in the world would kill for what the bottom 10% in America make. It's subjective.
The point is no one is the property of the government no matter how much money they make.

I'm not advocating not paying a fair amount in taxes but 90% is so extreme.

 

[TurnipFritters]

Most people in the world would kill for what the bottom 10% in America make. It's subjective.
The point is no one is the property of the government no matter how much money they make.

I'm not advocating not paying a fair amount in taxes but 90% is so extreme.

If someone is making 20 million a year I'm perfectly fine with hitting them with a 90% rate

 

[Nuu]

So it's either they're not budgeting properly or the job market continues to pay poorly?

Yes, the vast overwhelming majority of Americans just don't budget properly. The 1/5th of Americans who do (basically the top quintile) are the only people who know how to manage their money.

Capitalism can't fail it can only be failed.

 

[BajiBoxer]

Most people in the world would kill for what the bottom 10% in America make. It's subjective.
The point is no one is the property of the government no matter how much money they make.

I'm not advocating not paying a fair amount in taxes but 90% is so extreme.

It's not that extreme considering it would be a tax bracket rather than a flat rate. We've had it higher than that and it worked fine, didn't it?

 

[BajiBoxer]

Yes, the vast overwhelming majority of Americans just don't budget properly. The 1/5th of Americans who do (basically the top quintile) are the only people who know how to manage their money.

Capitalism can't fail it can only be failed.

Of course it can fail.

 

[BladeoftheImmortal]

Isn't this the #1 defining trait of America - the American Dream?

Called a dream for a reason.

 

[III-V]

Yes, the vast overwhelming majority of Americans just don't budget properly. The 1/5th of Americans who do (basically the top quintile) are the only people who know how to manage their money.

Capitalism can't fail it can only be failed.

Joke post, right?

 

[Future]

Child care costs man. I'm pretty sure every family is surprised to see exactly how much kids cost

Daycare
Babysitting
Private pre school
Formula
Baby food
Diapers
Bottles
Increased grocery expense
Increased health care costs

If you got kids and aren't already well off or extremely good with money, you are fucked because the help you get is minimal. And since you are pressured to have kids at younger ages (for women), then chances are you have them before you are actually capable of supporting them fully with an established career. And if you had a career, good luck continuing that path upward while dealing with lack of sleep, extra stress, and limited time that kids create.... with the only solution being spend more money on child care which is expensive as fuck. If you have a second then all costs multiply by 2... there is no group discount