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Parents

This Is How Much It Now Costs To Raise A Child

How much? Really? Sheesh.

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Here’s one thing all parents know: raising kids ain’t cheap.

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But now we know exactly how expensive it is. A new report from the U.S. Department of Agriculture (USDA) estimates that it will cost a middle-income married couple $233,610 to raise a new baby to the age of 17.

Lower-income families are expected to spend $174,690 while those with higher incomes are expected to spend $372,210.

So where will all of this money go? According to the report, 29% will be spent on housing your little rugrat.

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18% on food…

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16% on childcare/education…

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15% on transportation…

9% on health care…

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And 6% on clothing.

Oh, and none of this takes into account the costs of getting pregnant or sending the kid to college!
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Oh, and none of this takes into account the costs of getting pregnant or sending the kid to college!

The one positive here is that parents can expect to spend 27% less on a second child, and 24% less on each child after that.

Hurray for hand-me-downs!
Flickr: pattylagera / Via Creative Commons

Hurray for hand-me-downs!

Let me just say this — kids are lucky they’re so darn cute.

Flickr: inthe-arena / Via Creative Commons

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