The Mayor  in the Morning

The Mayor in the Morning

The Mayor Pete Kennedy was born in Canandaigua, NY. His father served for 14 years as the Mayor of the City of Canandaigua, and Pete stole the...Full Bio

 

The Average Cost of Raising a Child

The extra $500 parents got per kid from the stimulus bill is about to feel like chump change.

A new study found that raising a child now costs an average of $252,000 in the U.S. That works out to $14,000 a year for 18 years. Here's how it breaks down:

1. Housing costs the most. An average of $3,971 extra each year.

2. Food, $2,482 a year.

3. Child care and education, $2,280. That includes day care, babysitters, and school expenses. But not college, or private school.

4. Transportation, $2,127.

5. Healthcare, $1,302.

6. Clothing, $795 a year.

7. Miscellaneous expenses, $1,047. That's everything from toys to haircuts.

All those stats are based on people with two kids...so $14,000 per kid, or $28,000 a year. If you only have one, it costs about $17,800 a year. And if you have three, it costs less ...about $10,600 per child. 

Read more --> ValuePenguin

Photo Credit: Getty Images


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