Cathy Isom has the USDA’s latest report on how much it will cost to raise a child. That’s coming up On This Land of Ours.
The USDA recently released its annual Cost of Raising a Child Report, focusing on children born in the year 20-15. According to the study, parents can expect to shell out more than 233-thousand-dollars from when the child is born up until their 18th Birthday.
Here’s USDA Undersecretary Kevin Concannon with more…
“the middle income two parent family with a child born in 20-15 will likely spend between $12,350 and $13,900 each year on food, health care, housing, transportation, childcare and other expenses related to child-rearing.”
The report was authored by the USDA’s Center for Nutrition Policy and Promotion – looks at spending by both two parent and single-parent households at multiple incomes levels.
“And also examines spending across various geographic regions of the country.“
For example, where families in rural and urban areas spent the most and the least raising their children.
To learn more and read the entire report, Expenditure on Children by Families, 2015, you can go online at www.usda.gov.
The USDA has provided estimates of annual expenditures on children from birth until age 18 since 1960.