The new government estimates are out on child rearing, and now “a middle-income family can expect to spend $291,570 including inflation to raise a child born in 2008 to adulthood” (not including childbirth or college), reports Reuters. In today’s dollars, it works out to between $11,000 and $13,000 annually. If you’re planning on having a family in the future, here’s another incentive to get your financial house in order first—take control of your debts and spending, learn how to budget, and start saving. You’re going to need it, unless you can score a reality show on basic cable.
Want To Raise A Kid? You'll Need $300k
By cwalters August 6, 2009
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- Thinking Of The Future More Families Are Saving For College, But It May Not Be Enough To Match Rising Tuition Costs
- signing away your future How To Not Suck… At Borrowing For College