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Thinking about having a child? Check your balance sheet.
The Department of Agriculture estimates that an infant born in 2015 to a middle-income, married-couple family will end up costing between $12,350 and $13,900 each year — or $233,610 from birth to age 18.
Expenditures - Child - Percent - Increase - Cost
The expenditures on a child in 2015 represented a three percent increase over the cost in 2014. To be sure, 2015’s increase was lower than the historic annual rate increase of 4.3 percent.
The USDA’s projections are included in its 2015 Expenditures on Children by Families report, released Monday. The report also looks at the cost estimates for children born to lower- and upper-income families. According to the USDA, lower-income families are projected to spend $174,690 and higher income families are expected to spend $372,210 on children born in 2015 to age 18.
Broken - Category - Housing - Percent - Portion
Broken down by category, housing (29 percent) represented the largest portion of child-rearing expenses for middle-income, married families. Food (18 percent) was the second biggest portion of families’ child-rearing budget, followed by childcare/education (16 percent), transportation (15 percent), and health care (9 percent). Clothing accounted for 6 percent and miscellaneous costs made up 7 percent of child-rearing expenses.
“When CNPP first issued this report in 1960, housing and food were the two highest expenses, just as they are today,” Angie Tagtow, executive director of the Center for Nutrition Policy and Promotion, said in a statement. “But while housing costs have increased over...
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