That Child Born in 2008? He / She Will Cost You Over $291K to Raise

[Liberal_in_LA]

On Wednesday, the USDA announced its annual report on the cost of raising a child. According to the report, Expenditures on Children by Families, the cost of a child born in 2008 to a middle-income family will be about $221,190 (or $291,570 when adjusted for inflation). The amount includes food, shelter, etc. over the next seventeen years.

The Expenditures on Children by Families report has been issued annually by the USDA since 1960. As would probably be obvious to those with some degree of common sense, household income affects the amount parents spend on their kids.

For example, in 2008 dollars, a family earning less than $56,870 will spend $159,870 on a child from birth through high school. Meanwhile,, parents with an income between $56,870 and $98,470 will spend $221,190, and a family earning more than $98,470 will spend $366,660. Adjusted for inflation, a middle-income family in 1960 would have spent $183,509.

http://snafu-ed.blogspot.com/2009/08/that-child-born-in-2008-he-she-will.html

[flvegan]

1. Eli Manning just signed a deal that will pay him 1/10 of a billion dollars.

Never look at your child with dollar signs in your eyes, positive or negative.

[LooseWilly]

2. Shoulda had an abortion...

It's the fiscally responsible thing to do, don't'chya know....

[Q3JR4]

3. Not gonna have any children

so it's okay.

Q3JR4
Likes children and animals when he doesn't have to take them home with him.

[SheilaT]

4. Those studies always make

assumptions that don't necessarily apply to individual families. It assumes you buy a bigger house. It assumes you buy a set basket of goods for the kid. It assumes the cost of child care.

I read those reports when my two kids were born (1982 and 1987) and found them laughable, because they assumed we'd spend money we weren't going to spend. I think the report also assumes the mom gives up income while staying home on maternity leave. Well, I was a stay-at-home mom in the first place, so there were no child care costs, no lost income. We didn't upgrade to a larger home, didn't buy a lot of electronic goods for the boys. No TVs in their bedrooms to begin with.

Yeah, kids do cost money, but not necessarily even half what such articles project.

[raccoon]

8. Great post.

Another thing, the cost of living varies so much from one place to another. It's gonna cost you a lot more to live in San Francisco or NYC than in Bumfuck, SC or Bumfuck, MO, IN, etc.

[TexasObserver]

5. More, if you consider how long some of them will live at home.

[robcon]

6. My kids were worth it.

n/t

[Bill McBlueState]

7. seventeen years

Interesting they don't include the cost of college, which could add 50% to that.

[scheming daemons]

9. And that's just to fight the lawsuits over the birth certificate!!!11!!!!

[The Straight Story]

10. On minumum wage: You make 280,800 over 18 years , so poor can't raise kids

;)