Thursday, June 21, 2012

A Child Born in 2011 Will Cost $234,900 to Raise

USDA released the annual report Expenditures on Children by Families, finding that 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) for food, shelter, and other necessities to raise that child over the next 17 years.

The results come from the Consumer Expenditure Survey -- check out the "Cost of Raising A Child" calculator at

PS Don't forget to open a 529 plan to help pay for a college education. If you start early (when your child is quite young), then time is on your side.