Average Cost of Raising A Child Now Tops $241,000
Parent's to be may want to do some careful planning when they start to plan their family. In a new report from the U.S. Department of Agriculture the average cost tor raise a child for 18 years now will cost up to an estimated whopping $241,080!
Those numbers do not include the cost of a college education which could set you back another 150-Grand! The cost of child care has increased twice as fast as the median income since 2000.
This increase is up almost 3% since 2011. To make matters worse, CNN reports that the annual household income is down $4,000 since the year 2000. The data compiled for this cost consists of expenses for housing, food, transportation, clothing, health care, education and child care, as well as miscellaneous expenses, such as toys and computers.