Thursday, June 10, 2010

How much kids cost

$222, 360. That is how much each one of your kids will cost to raise! Ugh! I didn't know that. I don't want to think about it. I am eager to be in better financial shape, but unless you have a sudden influx of cash or you have something expensive you can sell, it just doesn't happen that quickly. So that is a little more than $13,000 a year. That is just the average. I may be spending more. I have three boys to feed. Food and sporting equipment are going to be the big money suckers in my house. I doubt I spent $11,000 on the baby this year. I am sure he will make up for it later on! And is it really likely to assume kids will be on their own financial once they turn 18? I kind of doubt that! How much do you think you spend on your kids each year?

FROM NBC: Now to raising a baby- Middle-income families with babies born last year (2009) can expect to spend about 222-thousand dollars ($222,360) to raise their little ones over the next 17 years.
That's less than a one percent increase from 2008.

The numbers comes from the U.S. Department of Agriculture's annual report. The report issued each year since 1960 is a valuable resource to courts and state governments in determining child support guidelines and foster care payments.

-NewsAnchorMom Jen

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