Born Free, now I'm expensive.
A few years ago, I saw a bumper sticker that said that very phrase... and I chuckled.
Now, a report by the U.S. Government confirms the cost of raising a child in a middle income family will cost $204,060.
Suddenly, I'm not chuckling.
$204,060?!?!
Over the course of 18 years, that breaks down to $11,336.00 per year.
According to the report, families making less than $45,800 before taxes can expect to spend about $148,320 in real terms over the course of their child's first 17 years.
Families with more income, say more than $77,100 a year, will spend $298,680 in 2007 dollars on raising their '07 child.
In all, it shows that making the decision to have a child should also include the financial ramifications but it shouldn't be everything.
As a product of a single parent, low-income household a successful childhood is more about the support and guidance you can give your child... not about the Nintendo Wii.
Comments (1)
Unfortunately in this day and age parents feel it necessary to spend money on their child, not time with them.
Posted by Bruce | March 26, 2008 12:41 AM
Posted on March 26, 2008 00:41