USD 300,000: Cost To Raise A Child, Excluding College

Once in a while we spot a stat that just makes you check again, to see if you read the number right. Was there an additional digit, for example. or a digit less. In most cases, you realize that you have read the number right. We had spotted some stats on the education-employment connection before. We spotted this today:

“Middle-income parents who welcomed a new child last year can expect to spend nearly $300,000 over the next 17 years, according to a new report.

Annual child-rearing expense estimates ranged between $12,290 and $14,320 for a child in a two-child, married-couple family in the middle-income group, which is defined as a before-tax income between $59,410 and $102,870.

The biggest share of the expense in raising a child, according to the report, is housing at 30%, followed by child-care and education at 18%, food at 16%, transportation at 14% and health care at 8%.”

Statistics Source: WSJ

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