Cost of raising a child in the US now over $300,000, not including college

[Pea-n-Me]

I thought we had a whole thread about this ten years ago, but turns out it was only a few posts on another thread.

Back then it was “only” $240,000 according to the USDA.

News just out today is that cost today has risen to over $300,000, adjusted for inflation. Again, this does not include college costs.

https://www.wsj.com/articles/it-now-costs-300-000-to-raise-a-child-11660864334

Tough news for young families already struggling.

 

[Smugpugmug]

And people wonder why more and more young people are choosing not to have kids at all.

 

[lowlight]

I’m raising 3 for a fraction of that. Now I’m worried I’m forgetting something they’re supposed to have…

 

[MillauFr]

I’m raising 3 for a fraction of that. Now I’m worried I’m forgetting something they’re supposed to have…

A trip to Disney at least once per year?

 

[MillauFr]

Only $300k? That number is way low. Around here you are going to pay at least $500k extra for a house that has 4 bedrooms instead of 2.

 

[lowlight]

I can’t read the whole article because it’s paywalled, what’s the number derived from?

 

[Buzz Rules]

When I have kids, I’ll have money saved up to cover state college tuition. If they want to go to private college, I would do what I could but my kids will definitely be getting a job in high school to help pay for it. If they have to take out a loan, I will end up helping them pay for it. I would never let the debt be a burden on them for 30 years. Honestly, I think college tuition will decrease as US society goes to more socialistic policies.

 

[QueenIsabella]

The article states that it doesn't include college.

Personally, I think there are a ton of ways to go cheaper--buying secondhand being a big one. Also, having kids share a bedroom, making most of your own meals, etc.

 

[punkin]

Only $300k? That number is way low. Around here you are going to pay at least $500k extra for a house that has 4 bedrooms instead of 2.

They can share!

 

[MillauFr]

They can share!

The mental health therapy would cost more than $500k if we had to squeeze 4 of us into a 2 bedroom house.

 

[punkin]

The mental health therapy would cost more than $500k if we had to squeeze 4 of us into a 2 bedroom house.

We actually did this for a year while relocating. The girls loved it.

 

[disneychrista]

I am curious, and the article may have explained, what does not include? Are we talking only food, clothing, medical, books, toys, etc or does that include housing & utilities. I know when I was making less than $25k raising 2 kids alone, that would have been more than my total salary.

 

[mom2rtk]

Only $300k? That number is way low. Around here you are going to pay at least $500k extra for a house that has 4 bedrooms instead of 2.

I'm sure that's an average. And based on your prior posts, I'm pretty sure you live in a high cost of living area.

 

[MillauFr]

I'm sure that's an average. And based on your prior posts, I'm pretty sure you live in a high cost of living area.

Unfortunately yes. One of the few negative things about Seattle. The awesome cool weather makes up for the outrageous cost of living. I start melting when the temp gets above 70 degrees.

 

[GreatLakes]

There are so many variables I'm not sure the article would be worth reading if it wasn't behind a wall. Just the decision between private and public education could have a huge impact on the end cost. Do they include buying a car for your kid in that total? That skews the number greatly and isn't something I'd include in the total for a population study.

 

[Colleen27]

I am curious, and the article may have explained, what does not include? Are we talking only food, clothing, medical, books, toys, etc or does that include housing & utilities. I know when I was making less than $25k raising 2 kids alone, that would have been more than my total salary.

Usually these estimates include a share of housing and utilities, to account for the larger home size that comes with larger families, but also higher insurance premiums, the cost of childcare or lost earnings, and other harder-to-generalize costs that can vary massively depending on choice and circumstance.

 

[Skippy918]

I can’t read the article cause it’s behind a paywall. if daycare was included, that cost makes sense.

 

[mrodgers]

This is definitely not what it costs to raise a kid. It is an impossible number for half the households as a family of 4 around median income would spend every penny on the kids.

It could be a number that is an average or median number of what people do spend, but stating that is what it costs is misinformation that they have been putting out forever.

Words matter. It does not cost that to raise a kid, my family and my children are proof of that.

 

[disykat]

I can believe that it costs some people that to raise children vs. not having children at all. 300,000 divided by 18 is $16,667 per year. If I go by today's dollars and today's prices I can certainly see it. I believe, however, that each additional child costs a little less because you've already made the lifestyle changes that might be figured in.

I don't, however, believe MY kids cost ME that much in actual dollars to raise. But if they counted what it "cost" for me to stay home full time with them for 9 years, and then stay part time for 8 more, there it is! I certainly would have made more than 16K a year more all those years. So are they figuring in wealth people would have if they hadn't had kids in that cost?

As far as basic costs - think of all the things they could have included in that number. Daycare, medical care, housing, food....... but then add in private school, private music lessons and instrument, sports fees, babysitters while mom and dad go out, allowances, a car for junior to drive starting at 16, new clothes each season as they grow, vacations filled with expensive activities and plane tickets, expensive birthday and Christmas gifts, etc. We spent a fraction of that because we only did a fraction of those things, but it's easy to see how one could spend that much.

 

[Pea-n-Me]

I can’t read the whole article because it’s paywalled, what’s the number derived from?

I am curious, and the article may have explained, what does not include? Are we talking only food, clothing, medical, books, toys, etc or does that include housing & utilities. I know when I was making less than $25k raising 2 kids alone, that would have been more than my total salary.

There are so many variables I'm not sure the article would be worth reading if it wasn't behind a wall. Just the decision between private and public education could have a huge impact on the end cost. Do they include buying a car for your kid in that total? That skews the number greatly and isn't something I'd include in the total for a population study.

The paywall doesn’t matter much. (There are similar articles out there in the last day or so.)

The information comes from the USDA which was linked in the OP.

Here it is again. Note, this was from 2013. The newest numbers continue to be based on this same information, but are adjusted for today’s projected costs.

https://www.usda.gov/media/press-re...d-241080-raise-child-born-2012-according-usda