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Offline mystery-ak

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Cost of raising a child jumps to over $300,000
« on: August 20, 2022, 01:47:26 pm »
August 19, 2022 7:16pm EDT
Cost of raising a child jumps to over $300,000
And that's before they even hit college

By Breck Dumas FOXBusiness

According to a new analysis, the cost of raising a child through the age of 17 has risen upward of $300,000 due to soaring inflation.

The Brookings Institution ran the numbers for The Wall Street Journal and found that the average amount a married, middle-income couple with two children would spend to raise a child born in 2015 through high school is now estimated to be $310,605.

That's roughly $18,270 a year, a 9% increase from the previous estimate due to rising prices wreaking havoc on Americans' budgets.

Brookings used data from the U.S. Department of Agriculture's last "Expenditures on Children by Families Report" in 2017 and updated it to account for the higher inflation rates the U.S. is seeing now.

The consumer price index is hovering near a 40-year high for numerous goods, including food, gasoline, clothing and housing.

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https://www.foxbusiness.com/economy/cost-raising-child-jumps-300000
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Offline Free Vulcan

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Re: Cost of raising a child jumps to over $300,000
« Reply #1 on: August 20, 2022, 02:10:56 pm »
Probably in upper middle class townie suburbia, but not in the rural areas.
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Offline EdinVA

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Re: Cost of raising a child jumps to over $300,000
« Reply #2 on: August 20, 2022, 02:16:54 pm »
Would spend, not needed to spend.....
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Offline mountaineer

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Re: Cost of raising a child jumps to over $300,000
« Reply #3 on: August 20, 2022, 04:34:52 pm »
Quote from: Free Vulcan on August 20, 2022, 02:10:56 pm
Probably in upper middle class townie suburbia, but not in the rural areas.
Yep.
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Offline libertybele

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Re: Cost of raising a child jumps to over $300,000
« Reply #4 on: August 20, 2022, 04:59:53 pm »
Gee, it's time to forgo the lavish birthday parties; i.e., hiring a pastry chef to make your kindergartner a cake and hosting the party at an arcade center and giving every child free access to the waterpark/theme park and arcade for the afternoon.
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Offline GtHawk

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Re: Cost of raising a child jumps to over $300,000
« Reply #5 on: August 20, 2022, 08:38:27 pm »
They are figuring almost $1500 a month? Good lord, even with child care that's a ton of grits and clothes every month! How many high end clothes and shoes are they figuring in, top end phone plan and an insane allowance? Most people just don't have that kind of income nor indulge their children to that degree.
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Offline Gefn

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Re: Cost of raising a child jumps to over $300,000
« Reply #6 on: August 20, 2022, 09:13:08 pm »
Quote from: Free Vulcan on August 20, 2022, 02:10:56 pm
Probably in upper middle class townie suburbia, but not in the rural areas.

Definitely agree for my neck of the woods. Frankly I thought it would be much higher.

Daycare is over 2k a month. Dunno about private schools vs public , but the private schools can be very pricey here too.



« Last Edit: August 20, 2022, 09:16:13 pm by Gefn »
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Offline Kamaji

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Re: Cost of raising a child jumps to over $300,000
« Reply #7 on: August 20, 2022, 09:14:18 pm »
I'd like to see the specific budget on that.
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Offline Smokin Joe

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Re: Cost of raising a child jumps to over $300,000
« Reply #8 on: August 20, 2022, 09:38:20 pm »
How much of that is for the lawyer on retainer for when the FBI hauls you out of the school beard meeting?
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