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
- humans are expensive Average Cost Of Raising A Kid Climbs To $245,000 — And That’s Not Including College
- the consumerists of tomorrow How To Not Suck… At Teaching Your Kids About Money
- the cost of an education Colleges Tight-Lipped On Revealing How They Divvy Out Financial Aid
- Thinking Of The Future More Families Are Saving For College, But It May Not Be Enough To Match Rising Tuition Costs
- a mind is a terrible thing to pay for Here Are Two Graphs Any Parent Of A College-Bound Kid Didn’t Want To See Today