How Much Does It Really Cost to Raise a Kid?

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Everyone knows that it’s expensive to raise a kid. Just how expensive is it to raise a child? The real price tag on raising a child from birth to 18 is pretty staggering- it may be far more than you ever expected it to be. Each child that you raise will cost more than buying three brand new, 2011 Jaguar XFs.

When you think of the big, expensive times in a child’s life, your mind might linger on two major intervals in their lives:  when they’re a baby or when they’re a teenager. However, there is no inexpensive time in a child’s life. Every phase in a child’s life comes with extensive expenses that can make budgeting difficult for most families.

During the time from birth through age two, it costs about $11,700 to raise the younger child in a family that earns a middle class income and has two parents and two children.Click on the graphic to find out. While this sounds like a lot of money, this is actually the least expensive three-year period in a child’s life. What is the most expensive one? Even if you’ve had kids, you may be surprised how expensive each phase of a child’s life really is. Few parents really take the time to add up all of those expenses, both small and large, and the real cost of raising a kid might come as something of a sticker shock.

Does it cost more now to raise kids than it did in the past?

When you adjust 1960 dollars for inflation, does it cost more or less to raise kids now than it did then? To find out how the costs have changed since that time, click on the graphic and take a look at the specific costs. Some of the costs are pretty much the same, while some costs have changed dramatically over the years. The cost of child care and education has changed enormously, costing more than eight times more than it did back then. But, parents these days are paying less for food and clothing. Which year came out on top – 1960 or 2009? You may be surprised by the answer.

Are the costs different if you’re a single parent?

A husband and wife raising a child do end up paying a different amount as they raise a child than a single parent does. In 2009, there is about an $11,000 difference between the two groups when it came to what they pay to raise a child. . What is the final tally for each of the two groups? How much does it really cost to raise a child for 18 years? The graphic spells it out for you – how much the average parents pay and how that breaks down by region. How does your region measure up? Find out here!