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 responses so far ↓
1 Fabulously Broke in the City // Aug 5, 2007 at 10:23 am
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.
2 FrugalBabe // Aug 9, 2007 at 4:25 am
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.
3 Living Almost Large // Aug 10, 2007 at 12:05 am
I don’t know, hadn’t considered the impact of that many kids.
4 Notes From The Frugal Trenches // May 5, 2008 at 7:00 pm
It is pretty amazing how they do it and the kids do learn the violin and they seem to take a yearly vacation with the kids but I know several large Christian families who basically spend nothing on their kids, even if they have interests like dancing or music or swimming etc. I’m not saying kids must be in every activity (in many ways I’m just as worried about kids who are!) but there seems to be some families who take it to the extreme, families who are so obsessed with buying a house outright that they seem to do very little as a family - no swimming or bowling or days at the seaside, no library story times etc.
I think parenting like every aspect of frugality and life is about balance!
I’m really enjoying your blog!
Leave a Comment