How Much Does it Cost to Care For a Child?

Deciding to have a child is probably one of the most irrational decisions you will ever make…especially when it comes to finances.  They sure aren’t cheap!  But the love and the learning, the smiles and the joy….priceless indeed.  Or, are they?   The U.S.D.A. recently released its annual report on how much money Americans spend on children each year.  Why it’s the Department of Agriculture that conducts the research, I have no idea….but that’s a side note.  Point being – it costs a lot: 22% more now than it did in 1960!  And that’s adjusted for inflation!  The report shows that middle-income Americans spend an average of $222,360 to raise a child from birth to 18.  Wealthier families spend even more….which tells me that these families can (and do) spend more, not necessarily that they have to.  Another interesting finding?  American families spend, on average, the same amount on food than they do for their children’s childcare and education.  A good thing?

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