Raising a Child Costs How Much? A New Study Has The Answer

June 15th, 2012 - By Charlotte Young

 

ecosoulintellectual.blogspot.com

 

Nobody said raising a child would be easy or cheap, but I bet you didn’t know that for a middle-income family, it would cost about $234,900. MSNBC reports on the U.S. Department of Agriculture’s recently released annual report “Expenditures on Children by Families,” which calculates the price of a child for the first 17 years of life. And yes, the price just keeps getting higher and higher.

Back in 1960, a middle income family could expect to spend about $25,000 on a child. If you adjust for inflation, that figure today would be $191,720. Among the costs, housing is the biggest expense, with child care, education, food and transportation adding up next in that order.

Although spending on food has in fact decreased since 1960, from 24 percent to 16 percent, child care costs and education have risen from two percent to 18 percent.

Parents are also spending less on clothes, choosing to bypass expensive footwear and other name brands for cheaper alternatives. Moms and dads have reduced clothing costs from 11 percent in 1960 to six percent today.

Since 1960, food expenditures have actually declined to 16 percent of income from 24 percent, while the cost of child care and education has soared to 18 percent of income from 2 percent.

For a breakdown of annual child costs per income level, take a look at the USDA calculation chart provided by MSNBC.

Households with annual income less than $59,410: $8,760 to $9,970, depending on the child’s age.

Households with income of up to $102,870: $12,290 to $14,320.

Households with income over $102,870: $20,420 to $24,510.

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  • BBBEE25TEE

    This baby is so beautiful…sorry I didn’t even read the article. I had to comment on how precious this baby looks..too cute. I love babies!

  • kameria

    All the more reason (for me) not to have children. I’d rather save $25 in the bank, than to spend it on a pack of diapers.

  • jason vorhees

    In baltimore there is a billboard that says “a baby costs $875 how much is your allowance?” I said 875 a month?!?!?! THATS ALMOST MY RENT! lol

  • RedButterfly81

    I believe it, I had to pay $50 for my daughter’s preschool pics the other day, stuff is expensive nowadays, it ain’t no joke!

  • victoria

    Concerning raising a child, the financial aspect is the easiest part. Teaching values, staying on top of social affiars, discipline, schoolwork, providing family traditions, setting aside valuable family time, giving cuddles, putting your child second behind God…these are tougher than busting your asx to provid a roof, food, etc.

    • jason vorhees

      Funny you say that because without the financial to feed your children they will never be able to focus to do school work or function properly.

      • victoria

        It sems like to many parents only focus on the financial and nothing else.

  • sammi_lu

    Me and my pockets all ready know how expensive it is raising a child..I clicked the article because I couldn’t get enuf of that baby on the pic..just wanna bite those cheeks!! too cute

    • FromUR2UB

      I knowww! I clicked just to see the cutie-pie baby, too. That’s what makes people forget about how much they’re going to cost.

  • Pingback: Raising a Child Costs How Much? A New Study Has The Answer :: Ms Linda's Day Care

  • bluekissess

    What do you expect? Different times. I think if you buy the essentials I’m sure it can cost less.

  • jsajea28

    Raising a child costs 234,900, but the love you have for that child is priceless!

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