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
$113,860 is my estimate without calculating his share of housing and energy use (stuff like that) but that might be about 61,200 over 17 years. That would bring his grand total up to $175,060. Maybe their calculations aren't so far off. We do a lot of thrift store shopping though and try to buy less stuff in general. It's very hard to estimate what we're actually spending. Still, if you want to save some cash as you raise your child, and maybe get that total down read the following...

Tags: baby budget baby costs baby stuff you don’t need best baby gear budget for baby how mush to raise a baby plan a baby budget taxes for parents what a baby needs worst baby gear


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