Cost of raising children continues to rise
Average cost around $245,000; not including college
SAN ANTONIO – Diapers to high school graduation, it can cost a quarter of a million dollars to raise a child now. And, that does not include the cost of college.
On average, it will cost an estimated $245,000 for middle income parents to raise a child born last year. That's according to the number crunchers at the U.S. Department of Agriculture. That's an increase of $4,260 from last year's estimate.
"The formula is expensive, the baby food and diapers, wipes, everything," said Tianna Price, mom to 9-month-old Mia. "And, day care! Day care," she said.
Child care costs continue to rise, sometimes costing as much as a family's mortgage or rent, or even more.
"I think our daycare costs were like double our rent, so it's expensive," Price said.
Just putting a roof over a child's head accounts for the biggest chunk. Add to that the rising costs of gasoline and groceries.
"Our grocery bill would be our second biggest expense," said Elizabeth Cox, mom to three young children.
"We spend between $250 and $300 a week on groceries, and that's on half not-great things and half fruits and vegetables," she said.
Then there are the expenses like doctor visits, clothing, and haircuts.
When the government first started calculating kid costs back in 1960, the estimate to raise a child was closer to $25,000.
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