Today, USDA released its annual Expenditures on Children by Families report, also known as the “Cost of Raising a Child,” showing that a middle-income family with a child born in 2013 can expect to spend about $245,340 ($304,480 adjusted for projected inflation*) for food, housing, childcare and education, and other child-rearing expenses up to age 18. The costs by location are lower in the urban South ($230,610) and rural ($193,590) regions of the country. Families in the urban Northeast incurred the highest costs to raise a child ($282,480). Read more »
Posts tagged: Expenditures on Children by Families
How much will that little bundle of joy cost? According to USDA’s Cost of Raising a Child report, the answer for a child born in 2012 is $241,080 for food, shelter and other necessities over the next 17 years, which translates to about $301,970 when adjusted for inflation!
Speaking as a father and a grandfather, I know how much we as parents want to give our children the tools they need to excel at anything they set their minds to—from the essentials, like a roof over their heads and a quality education, to the fun stuff, like a brand new soccer ball, piano lessons or a trip to summer camp. We work hard to ensure our children’s future happiness and success each and every day. Read more »