Cost of raising a kid to the age of 17? $286,050. USDA report
June 2, 2010 9:05 PM Subscribe
posted by bystander (51 comments total)
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Got a lazy quarter million? Why not raise a kid to the age of 17. Average cost $286,050.
Each year since the 1960's the USDA has released a study calculating the cost of raising kids.
Things you should know:
- lower income families (incomes under $56kp.a.) still spend $205,600
- rich families (income over $98,120p.a) spend $475,680
- all figures are inflation adjusted, in 2009 dollars the $286,050 becomes $222,360.
- single parent families spend about 25% less.
- housing (the cost of an extra bedroom per child) is the major cost (31%)
- childcare and education (excluding college) is next at 17%
- food is 16%
- each additional child is cheaper.
- since 1960 the cost of kids has risen about 22%
- figures exclude opportunity costs such as lost income and external funding sources such as government paid schooling.
is a 39 page PDF.