Parents Will Spend Average of $233,610 Raising a Child Born in 2015 – USDA Report

Parents Will Spend Average of $233,610 Raising a Child Born in 2015 – USDA Report
The U.S. Department of Agriculture (USDA) released the 2015 Expenditures on Children by Families report, also known as “The Cost of Raising a Child.” The report, developed by economists at USDA’s Center for Nutrition Policy and Promotion (CNPP), estimates that for a child born in 2015, a middle-income married-couple family will spend between $12,350 and $13,900 annually (in 2015 dollars), or $233,610 from birth through age 17, on child-rearing expenses. Families with lower incomes are expected to spend $174,690 and families with higher incomes are expected to spend $372,210 from birth through age 17. Many state governments use this annual report, first issued in 1960, as a resource in determining child support and foster care guidelines.
https://www.usda.gov/wps/portal/usda/usdahome?contentid=2017/01/0004.xml


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