Ever year the U.S. Department of Agriculture calculates the cost of raising a child born in that respective year. Known as the “Cost of Raising a Child Calculator,” the Ag Department estimates food, housing, education and other necessities and comes up with an average estimate. Of course, the rich will spend more and the poor less, but the average middle class family is expected top be in the range.
What is the estimate for a child born in 2009? $291, 570 adjusted for inflation. This estimate is, naturally, an increase from the previous years.
Annual yearly estimates from $11,610 to $13,480. For that, housing is 1/3 of spending; food, education, and child care each tally 16%.
A lot, huh? And this nearly $300,000 estimate does not include childbirth costs, usually running in the thousands or college costs. College in the United States is quite expansive, particularly out-of-state and private schools. So add a good $20,000 to that.
If you want to save some cash know this: The Northeast is the most expansive region to raise a child, followed by the West and Midwest. The cheapest: rural and Southern America.
