How Much Will It Cost To Raise Your Baby And How Can You Save Money?
$222,360 seems a little high to me. But according to a new USDA report, that's how much it'll run you...
$222,360 seems a little high to me. But according to a new USDA report, that's how much it'll run you to raise one child born in 2009 into a middle-income family. The USDA notes that $286,050 (if inflation is factored in) is how much it'll cost for food, shelter, and other necessities to raise one child over the next 17 years. This represents less than a 1% increase from 2008, the smallest increase this decade, which likely reflects the state of the economy. It's hard to know if they're spot on. I consider myself middlish class income-wise and I'm trying to figure how much I spend, but it doesn't seem like this much. Maybe though... Hmmm. I'll estimate.
- Cedar's school 4,980 a year (x 12 years) = 59,760
- Food 100 per mos (x 17 years) = 20,400
- Clothing 300 per year (x 17 years) = 5,100
- Other goods (toys, art supplies, books, etc) (x 17 years) = maybe about 6,800
- Health care 150 insurance x (12 years) before we had insurance though work which was practically free = 21,600