What is the current US cost to raise a child from birth through age 18?
The average cost of raising a child born in 2013 up until age 18 "Cost of Raising A Child" report from the U.S. Department of Agriculture for a middle-income family in the U.S. is approximately $304,480. (adjusted for projected inflation) - Dated August 18, 2014.
This assumes a child is born without any health issues or deformities requiring any "special needs".
That should give plenty of people pause to determine whether or not they want to make that kind of sacrifice. There are also no guarantees that a child will be leaving "the nest" at age 18. Oftentimes the "real expenses" start accumulating during the college years and beyond!
A lot of grandparents are the primary parent as well. LOL!
I can say for a fact my parents didnt spent 304,000 on me even including college (currently enrolled). That projection from the US Government Department of Something with Money and Kids comes up with that estimate based on figures such as $7 usd a meal and buying new clothes every month and a pair of shoes once every 6 months and other "bloatware". I would personally say, you can raise any child who is healthy, for about $50,000 to age 18. Thats saying you live smart, make cheap but healthy meals, buy clothing that lasts, and dont make bad choices on spending the money. A big waste of money is toys between ages 7 to 13. Little kids need handheld toys to learn, 7-13 year olds just need sports equipment and a tablet pc. I won't go into more detail since people know well enough, but ill say I had the same 2 pairs of shoes for the last 5 years, one beat up working pair I wear daily and 1 clean classy pair I wear out to eat and to events.
I think your numbers are way off. Have you checked the price of diapers and baby food lately? Medical care? It may not be 304,000 dollars, but it's much more than $50,000.
Good answer Andrew. People should not spend on unnecessary items for the sole purpose of their convenience. If you spend on diapers to throw them away daily it is irrational. Be economic and spend smartly.
by Stacie L 6 years ago
That's from birth through age 17, and it doesn't include college. How does your spending compare?By MSN Money partner on Tue, Oct 11, 2011 10:03 AMhttp://money.msn.com/how-to-budget/arti … 5a50e42650This post comes from Miranda Marquit at partner blog Bargaineering. Every year, the U.S....
by JP Carlos 6 years ago
What's the cost of raising a child?How much do parents need to have to raise a child? From food, education, medical needs etc., what's a ball park fgure needed. Moreover, how can parents save up for this amount?
by Nolimitsonlife 5 years ago
Do you think it is ok for a 18 year old to have a baby?
by Dawn Michael 6 years ago
part of realiy hub series, your answer may be used in the next reality hub, driving traffic to your page.
by Brian L. Powell 5 years ago
At what age are children no longer considered children?I ask because, here in Texas, you can sign contracts at 18 but you can't drink or smoke until 21. I don/t think it is the same around the world. I know parents tend not to see their own children as grown up, so I am talking about everyone else,...
by sheliarocs 4 years ago
At what age can we stop paying child support in TN? 18?The child turns 18 mid May and graduates about a week later. We want to stop paying as soon as it is legal to do so..
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