Saturday, August 04, 2007

17th Child for duggars..

The Duggar family just had their 17th child. They are very well off and debt free. What? Let's tell you a couple of facts about ther family. They live in a 7000 sq ft home, which by any reasonable standards is large.

But how do they afford a huge home and no debt? Well the father Jim Bob Duggar was previously a US state congressman. So he was earning over $158k/year in say 2004, and they live in Arkansas. Which most can assume is a pretty reasonable cost of living. However he currently is self-employed insurance salesman, and one could logically conclude he did not leave for a lower paying job. Hence supporting a family approximate 4x the median salary seems more reasonable.

But also realize their oldest child is only 19 and they have not yet started to pay for college. This could be a deciding factor in whether or not they stay debt free and are able to retire. It was previously mentioned that they did not achieve debt free status until child #12. This is still an amazing feat.

Well I guess if you want a lot of kids, make sure you make a great income. And try to be debt free.

4 comments:

Fabulously Broke in the City said...

I watched a whole documentary on them..

They also make all of their own clothes, and pass them on to the younger ones (so all the girls wear the same kinds of dresses and clothes, and when they get bigger, the younger ones get them)..

And they don't waste money on plastic toys - they bought violins for each of the Duggars instead to learn how to play on

They also homeschool every single one of them, so there's no peer pressure to fit in and wear the latest *whatevers*, or buy the latest gadgets..

And they go bulk shopping every week like you wouldn't believe, with an insanely organized pantry.

Their entertainment is gathering with other families of the same faith in the area, and holding mass in their living room together, as well as fun activities outside that are free - like playing tag, or singing, etc.

They're my heroes! :) Some say they're crazy, but I think they're smart for managing their money so well.

FrugalBabe said...

I have mixed opinions on this family. I am very impressed with their money management skills and organizational abilities. That said, we are over populating our world at a scary rate, which makes having 17 children just plain irresponsible.

Living Almost Large said...

I don't know, hadn't considered the impact of that many kids.

Anonymous said...

I am so impressed with this family, for many reasons. First, I believe they are debt free as a DIRECT result of their value system. (and I'm not religious, but spiritual-minded searcher who believes in God). The children are all well-spoken, well-mannered, well-educated, and seemingly humble, which I believe is because of their teachings in faith. (not necessarily the quiverful faith, but A faith). Because their access to 'pop-culture' is limited, and their lives directed in a positive way, they don't have the type of distractions that other children have, such as wanting $100 shoes, etc. That being said, I'm sure they have benefitted in some financial way from the Discovery shows, which eases some of their financial burden (and I'd love to know how much they've received).
I think that these children will grow up to do good things in the world, and will be humble, kind people, and positive contributers to society. If they love them and can take care of them, why shouldn't they have as much right to have them as women want the right to abort them? (I'm pro-choice before anyone starts sputtering - I believe it's a woman's choice between her and her God)