Contact Us

Brace Yourselves, Parents! The Cost of Raising a Child Just Went Up — Dollars and Sense

Child Care Costs
Thinkstock

Pretty much everyone knows that raising a child is getting more and more expensive. But did you know that the cost of doing so went up $8,000 in just one year?

A report by the United States Department of Agriculture took into account food, shelter and other necessities and found that middle-income families who had a baby in 2011 can expect to shell out $235,000 in child-rearing expenses over a 17-year period.

That’s up 3.5 percent — or $8,000 — from the figure estimated for new parents in 2010. So what’s behind the jump?

Experts say expenses for transportation, child care, education and food surged for middle-income families, defined as those making between $59,000 and $103,000 per year. In addition, there were gradual increases in the cost of health care, clothing and housing.

Lower-income families will likely spend less to raise a child to adulthood — about $169,000 — while wealthier families can expect to spend roughly $390,000.

Back in 1960, when the USDA issued its first report on the estimated cost of raising a child, the agency predicted a $25,000 tab — or, adjusted for inflation, about $192,000 in today’s money.

[CNN Money]

Best of My Channel 95.7

Recommended For You

Around the Web

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://mychannel957.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Please solve this simple math problem to prove that you are a real person.

Sign up for Friends With Benefits quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive Friends With Benefits contests, events, coupons, presales, and much more delivered to you for FREE.