You know that extra $500 parents got per kid from the stimulus bill? Well, after you read this, that won't seem like very much money! A new study from Value Penguin found that raising a child now costs an average of $252,000 in the U.S. That comes out to $14,000 a year for 18 years.
Here's how it breaks down . . .
1. Housing costs the most per child, an average of $3,971 extra each year.
2. Food, $2,482 a year. (Add $500 for my kids! HA!)
3. Child care and education, $2,280. (That includes day care, babysitters, and school expenses. But not college, or private school.)
4. Transportation, $2,127.
5. Healthcare, $1,302.
6. Clothing, $795 a year.
7. Miscellaneous expenses, $1,047. That's everything from toys to haircuts.
All those stats are based on people with two kids, so $14,000 per kid, or $28,000 a year. If you only have one, it costs about $17,800 a year. If you have three, it costs less, about $10,600 per child.
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