That s a lot of scratch. Housing giving a child shelter is one of the most important responsibilities parents have.
The budgets estimate community specific costs for 10 family types one or two adults with zero to four children in all counties and metro areas in the united states.
How much money is needed to raise a child. Sharetweet epi s family budget calculator measures the income a family needs in order to attain a modest yet adequate standard of living. On average middle income parents will spend 284 570 by the time a child turns 18. Department of agriculture it will take roughly 240 000 to raise a child from birth to age 18.
Compared with the federal poverty line. But that figure can quadruple for a kid with special needs. Very few americans spend that much money on each child.
For a special needs child those expenses can quadruple. C section etc is 10 657 according to a 2011 report from the national partnership for women and families. Those in the highest income range making over 107 400 spent 372 210 on raising a child.
If there are complications or if the delivery results in a cesarean those costs can triple although the amount you pay largely depends on. Department of agriculture estimates the average cost of raising one child from birth to age 17 and who was born in 2015 to be 233 610. The largest expense is housing followed by food.
Those in the lower income range making under 59 200 required an average of 174 690 to raise a child. On average the cost of birth without complications i e. The only way to save money on child care is for one parent to stay home although this can result in loss of income or for family or friends to provide free care.
Transportation these consists of those. The cost of childcare varies widely and depends on where you. Food this is the second biggest expense in the low and middle income groups and is 18 of the entire cost.
And it takes up 29 of the. When inflation is taken into consideration that figure inches closer to 284 570. This suggests that it costs roughly 13 000 per year to raise a child.
Lots of people will read this and decide they can t afford children. According to the u s. With prenatal care epidurals and hospital stays giving birth doesn t come cheap.
But that number is a fantasy based on ridiculous assumptions. According to the u s. Department of agriculture the cost of raising your typical kid to the age of 18 is around 240 000.