A new report from the U.S. Department of Agriculture finds the cost of raising kids from birth to age 17 has increased by $8,000 in the last two years. This brings the total to a whopping $235,000 for middle-income Americans.
In calculating the cost of raising kids, the USDA considers expenses for everything from housing and food (the two biggest expenses) to education, health care, clothing, transportation, and so on. The estimates for this year are 3.5% higher than those from last year, mainly due to increases in the costs of gas, food, education and child care.
Because the USDA focuses only on the expenses up to age 17, their estimates leave out one gigantic contributor to the cost of raising kids: college education. As every parent knows, these are considerable.
Have something to say about this article? Leave your comment via Facebook below!
Recently by Jim Liebelt
- Teen Athletes Prone to Drink, Less Likely to Use DrugsMonday, December 09, 2013
- What's Hot? 12/06/13Friday, December 06, 2013
- Five Teen Trends for 2014 And BeyondThursday, December 05, 2013
- Teens' Social Media Can Hurt College ChancesWednesday, December 04, 2013
- Study: Parents Clueless About Tech's Dangers to Teen HearingMonday, November 25, 2013
Recently on Crosswalk Blogs
Add Crosswalk.com content to your siteBrowse available content