Q. We are expecting our first child. How much should we budget to raise a child?
A. A recent study shows the total cost of raising a child over the course of 18 years will be $245,340.
Here are where do the costs go:
In our next blog post, we will show 5 things every new parent should do.
A. A recent study shows the total cost of raising a child over the course of 18 years will be $245,340.
Here are where do the costs go:
- Housing: 30%
- Child care and education: 18%
- Food: 16%
- Transportation: 14%
- Health care: 8%
- Clothing: 6%
- Miscellaneous: 8%
In our next blog post, we will show 5 things every new parent should do.
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