Good question: How much does a kid cost?

SHARE

With Michelle and I at the twenty-three week mark in her pregnancy, I couldn’t help but notice a new statistic from the U.S. Department of Agriculture report (PDF) on how much it really costs to raise a child:

[A] middle-income family with a child born in 2011 can expect to spend about $234,900 ($295,560 if projected inflation costs are factored in). That’s a 3.5% increase from 2010 and a 23% hike from 1960 (that’s when the USDA first issued this report) when the cost of raising a child was equivalent to $191,723.

And that doesn’t include college:

If you’re already balking at the quarter-million dollar price tag, consider this: the report stops at age 17. Parents who send their children to college can add a significant sum to the total. The report notes estimate by the College Board that in 2011-2012, annual average tuition and fees were $28,500 at 4-year private (non-profit) colleges, while annual room and board was $10,089.

Judging by the volume of adorable dresses already hanging in Ella’s closet, I think these estimates are, um, best-case scenarios.

Comments

comments

SHARE
Previous articleIn remembrance, Peter J. Schorsch
Next articleA wonderful Sunday read - The crayola-fication of the world: How we gave colors names, and it messed with our brains
Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.