How much do kids cost? It’s a question we often try to ignore. While parenthood easily the most rewarding way to spend money, make no mistake: Kids cost a lot.
In fact, each child you raise will now cost you more than a 2012 Lamborghini.
But the relative cost of kids isn’t just high, it’s getting higher according to research by the U.S. Department of Agriculture.
In the last year alone, the cost of raising a child to the age of 18 jumped by 3.5%. That’s not including the cost of a college education.
Since 1960, the cost to raise a kid has skyrocketed a whopping 28%, after adjusting for inflation. Kids cost more to raise now than ever before.
So How Much Do Kids Cost?
The answer, according to the most recent USDA report is $234,900. To help you understand how to unpack that number, here’s an infographic we stumbled upon at VisualEconomics.com. Thinking of having your first child soon? Check out our baby cost calculator to get a handle on your startup costs.
If you have kids, how much do you think you’ll spend raising them? How much cheaper was the second? What tips do you have for cutting costs? Share below.