Which, by the way- doesn't include college!
We found an article stating a middle-income American family will spend, on average, $245,000 raising their child. This is as of 2013 and includes things like food, housing, child care and education.
To put things into perspective, in 1960, a middle-income family could spend about $25,230, equivalent to $198,560 in 2013 dollars, to raise a child until the age of 18. Housing still remains the biggest expense.
Parents- does this sound about right? I'm not a parent yet....I'm an only child and can't even IMAGINE how much my mom/dad spent on me! Thank Goodness they didn't keep a tab....
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