The $233K Cost Of Raising A Kid--And How To Prep Your Finances As A New Parent

January 25, 2017
in Kids

This story originally appeared on LearnVest as “The New Price Tag for Raising a Kid.” If you’re a parent-to-be or plan to have a kid in the near future, better be prepared to cough up a lot of cash. That’s because the cost of raising a child from birth to age 17 is estimated to run you a mind-boggling $233,610, according to the USDA’s latest Expenditures on Children by Families report, released this month. That whopper of a number is based on projected costs for a child born in 2015 to a middle income, two-parent family with two kids, although the USDA makes it clear that the sticker price would vary by family size and income. RELATED: Your Cash on Kids: Comparing the Costs of Having a Baby at 26 Versus 36 How does that nearly quarter of a million break down? Forget trendy kid must-haves like luxury strollers and pricey summer camps. Housing actually accounts for the largest expenditure, making up 29% of the total, according to the report. Food...

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