Raising A Kid Costs $241K
Wholly Moly! A new US study says that raising a child costs over $240,000!!
According to the study a baby that was born in 2012 will have about $240K spent on it by the time it turns 18. Now, that’s not even calculated for inflation. By the time you add that in you’re looking at spending a little over 300 Grand.
The largest expenditures on kids are for housing, food, clothing, care (like doctors), and transportation.
Per year, parents will spend anywhere from 12 to $14,000 on a child. The amount really depends mostly on the kid’s age.
Since the study started in 1960 just about EVERYTHING on the list has doubled in cost…or more.