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How Much Does It Really Cost to Raise a Child?

costs of having kids

We’ve all read those reports about how it costs almost a quarter of a million dollars to raise a child to age 18. That makes each year of life around $13,611 for middle income families. I have no idea about the rest of the world, but thought it might be fun to share average expenses for our kiddo. She will be nine in a few months, making us half way to adulthood. Here is a breakdown of our costs to raise a child. Keep in mind that we only have one kid, are upper middle class earners, and live in a low cost of living area. Where you live can be a huge influence on how much you spend. Also, as an only child, our daughter probably has the benefit of many more splurges that would be possible with multiple children. Necessary Expenses Food This is a hard category to break down because I don’t track grocery spending into kid vs adult. ┬áMost of the time, we all eat the same things. Having a child means buying a little more. The two notable exceptions are the gallon of organic milk I buy every ten days at $5-$6 a pop and ...

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