Just how expensive is it to raise a child?
Ready for some child-raising sticker shock? We knew it cost a lot to pay for it all — the diapers, clothing, preschool, babysitters, school supplies, activities, electronics and driver’s ed — but, we weren’t ready for these numbers!
The USDA recently published their annual Expenditures on Children by Families report (based on 2015 data). According to their Cost of Raising a Child Calculator, the average two parent household earning between $59,200 and $107,400 spends approximately $16,100 to over $17,600 each year to raise a child, depending on age. And, the more we make in our household, the more those costs go up.
Our infographic shows costs for a few stops along the child-rearing journey:
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