Cost of raising a child continues to rise, now close to a quarter million dollars
Numbers don't include a higher education
Last Updated: 112 days ago
BAKERSFIELD, Calif. - New data from the USDA reports that families having a kid in 2012 will spend nearly a quarter of a million dollars over 17 years, or, $241,000 to be exact.
According to a blog on the USDA website, estimates have increased nearly six thousand dollars from the year before, and that doesn't even include college.
So, why the increase?
The author, Kevin Concannon, Under Secretary for Food, Nutrition and Consumer Services, says that in the past year, child care, health care and clothing expenses have taken off.
Not to mention, the older a child gets the more money he or she requires.
When adjusted for inflation, that number is over $300,000.
Unfortunately, due to the childhood obesity epidemic, health care projections are high, while this generation of children has a shorter projected lifespan than their parents.
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