“Average Cost to Raise a Kid: $241,080” ???
August 15th, 2013Our annual household income is roughly what this report indicates the cost would be to raise one child for a year in the U.S. And we have two children.
Living mortgage free is like living on a different planet compared to those who have a bank’s boot on their necks.
Via: CNN:
From day care to the monthly grocery bill, the cost of raising a child is climbing at a rate that many families can’t keep up with.
It will cost an estimated $241,080 for a middle-income couple to raise a child born last year for 18 years, according to a U.S. Department of Agriculture report released Wednesday. That’s up almost 3% from 2011 and doesn’t even include the cost of college.
At the same time, wages aren’t keeping up. The country’s median annual household income has fallen by more than $4,000 since 2000, after adjusting for inflation, and many of the jobs lost during the recent recession have been replaced with lower-wage positions.
The USDA’s latest estimates include expenses for housing, food, transportation, clothing, health care, education and child care, as well as miscellaneous expenses, such as toys and computers.
Related: 33 Percent of Americans Raised Middle Class Move Downward as Adults
