Planning on having a baby some time this year? The numbers are in for how much it could cost you in the long run. Every year the United States Department of Agriculture gets together and figures out how much the average family spends to raise child from birth to the age of 17. The number is actually down a bit from a couple years ago, but according to the study it costs the average middle class family about $233,000 USD to raise a child (about $308,000 CAD).
They say the biggest expenses facing families today is daycare which can cost as much as $1000 per child per month in some cases. Of course the real breakdown per family can always be altered based on a number of different factors, but I can’t help but think of this classic “Gilmore Girls” scene when I see that huge six figure number!
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