Cost to raise a child: $226,920

1. 87

   Stacie Lposted 7 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?

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      RookerySpoonerposted 7 years agoin reply to this

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

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2. 64

   awareposted 7 years ago

   worth of said child?
   Priceless

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3. 74

   wytegarillazposted 7 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.

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4. 87

   earnestshubposted 7 years ago

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

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5. 87

   Stacie Lposted 7 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..

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6. 97

   wildernessposted 7 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.

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