Friday, October 29, 2010

Raising your $222,000 baby [College expenses not included]

These little ankle biters ain't cheap:

Children are priceless, but raising them is one of the most expensive things you'll ever do. Here's how much it costs, along with some strategies for lowering expenses.

Every newborn child is a bundle of joy. But you'd better have a bundle of cash on hand if you want to raise one.

Typical families, those making from $56,670 to $98,120 a year, will spend a whopping $222,360 to raise a second child born in 2009 through age 17, estimates the Center for Nutrition Policy and Promotion, a division of the U.S. Department of Agriculture.

Higher-income families will spend even more. Those earning more than $98,120 will spend $369,360 overall in the U.S. to raise a second child; that figure rises to $411,210 in urban areas of the Northeast.

Read the rest of the article here

2 comments:

  1. Todd and I are still debating... We both want kids so bad, but holy cow that's expensive!!!! I mean, Nutro and tennis balls aren't that bad so far..but college...

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  2. ugh...don't read that stuff. It just freaks you out. We've got 6 and make zero dollars. Everyone has had music lessons and swim lessons and we've figured out how to get 3 of them into college and thankfully have a bunch of years until our smaller 3 get that far. Close your eyes to it and hum. ;o)

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