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Cost to raise a child: $226,920

  1. Stacie L profile image89
    Stacie Lposted 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 AM

    http://money.msn.com/how-to-budget/arti … 5a50e42650
    This post comes from Miranda Marquit at partner blog Bargaineering.

    Every year, the U.S. Department of Agriculture issues new statistics on the cost of raising a child from birth to age 18. The latest report says the average cost is $226,920 -- almost  40% more than a decade ago, CNNMoney reports.

    That's for a middle-income, two-parent family with two kids in 2010. The numbers (.pdf file) change if you have a different income, or live in certain areas.

    You can go to the USDA website and use its cost of raising a child calculator to get a more personalized view of the cost. According to my income and location, the USDA predicts I'll spend $26,463 a year on my son from birth through age 17. I'm pretty sure I'm not spending that much now. But I thought I'd work it out anyway.

    does this figure seem low?

    1. profile image0
      RookerySpoonerposted 6 years agoin reply to this

      Send them up chimneys. They would then pay for themselves.

  2. aware profile image68
    awareposted 6 years ago

    worth of said child?

  3. wytegarillaz profile image75
    wytegarillazposted 6 years ago

    We didn't earn that kind of money to spend on children, however our 3 girls had everything they needed + plenty of love and attention .
    They are all well adjusted hardworking adults now & the oldest has 2 children.

  4. earnestshub profile image89
    earnestshubposted 6 years ago

    I think the average cost in Australia is pretty high.
    That amount would only cover the fees at a good private school.

  5. Stacie L profile image89
    Stacie Lposted 6 years ago

    By my calculations, a parent would have to spend a little over 13,000 per child until 17 to get that total. I know that's too high for most working class families. Earnest ,yes, if you send them to private school the costs could be higher..

  6. wilderness profile image96
    wildernessposted 6 years ago

    Median family income in the US in 2006 was $50,000, or just over $4,000 per month.  Deducting just 25% for taxes leaves $3,000 per month net.  At $227,000 for 17 years, that's about $1,000 per month per child.

    I don't know any families that spend 2/3 of their net income supporting 2 children.