How Much Does It Cost To Raise A Baby?
Parenting can be expensive but starting your financial planning today may help you be more prepared for the expenses.
- According to the 2014 annual “Cost of Raising A Child” report from the U.S. Department of Agriculture, the average cost of raising a child born in 2013 up until age 18 for a middle-income family in the U.S. is approximately $245,340 (or $304,480, adjusted for projected inflation.)
- See an estimated breakdown of the cost of raising a child for one year. Watch the expenses change as you adjust the age of the child.
- This itemized cost calculator is an incredible resource as you put your finances in order to prepare for your new little one. It helps you estimate the most common expenses for a baby.
Don’t forget to explore the government assistance and grant opportunities that you may quality for. Learn more about your options.