how much will it cost to raise your kid?
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Adding a child represents a major financial stress: The cost of raising a child today is $233,610 – excluding the cost of college – for a middle-income family, according to the U.S. Department of Agriculture.
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Licensed infant and toddler child care is unaffordable for most families: The average cost to provide center-based child care for an infant in the United States is $1,230 per month. In a family child care home, the average cost is $800 per month.
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Raising a Child: $233,610 Try sinking your teeth into that one. The USDA estimates middle-income families (two parents, two children, with a before-tax household income between $59,200 and $107,400) will spend $233,610 in 2015 dollars to raise a child from birth to age 17.
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The average cost to have a baby in the US, without complications during delivery, is $10,808 — which can increase to $30,000 when factoring in care provided before and after pregnancy.
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According to the Census Bureau Reports, the average monthly child support payment is $430. But again, this is just an average and shouldn't be used as a guideline to understand how much you will be paying, or should pay, in child support.
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The cost of pregnancy can be anywhere between $50,000 and $300,000. Of course, if you choose to use public facilities for your check-ups and delivery (which are free), then you will be cutting costs significantly. If, however, there are complications with your pregnancy, then you might even exceed this amount.
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That's a range of $7,800–$23,400 a year or $140,000–$420,000 across 18 years – plus another $12,000–$20,000 per year if your child attends a private school! And, as many parents discover, if your child stops costing you money at the age of 18, you're in the minority.
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New parents can expect to spend an average of $2,700 on baby gear and basics like diapers and formula in the first year! But there are some easy common sense tricks to saving money and staying on budget with a new baby. The first step is deciding which things are essential and which are just nice-to-have.
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Parents spend more than £300 a month just keeping a child in essentials, according to a new study. The bill for clothes, food, transport and other vital expenses is, on average, £3,700 a year. It means parents would have stumped up about £67,000 by the time a child reaches 18.
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According to the USDA, the total cost of raising a child born in 2013 until age 17 is $245,340. The average cost of the first year is right around $13,000 — and that doesn't even include the cost of childbirth [source: USDA]. Fret not.
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Most preschool fees are comparable to the high prices charged by daycare centers. Depending on where you live and the quality of the preschool, average costs range from $4,460 to $13,158 per year ($372 to $1,100 monthly), according to the National Association of Child Care Resource & Referral Agencies (NACCRRA).
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The costs involved in establishing a parenting plan include a filing fee of $200-$250, photocopying fees, and (possibly) fees for service (delivering the papers to the other parent or other parties). If you cannot afford the filing fee, you may use a special form which may let you file without paying the filing fee.
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Here's the good news: the more children that live in a household, the lower are the average costs per child. That said, parents of two children still face total costs of over 250,000 euros by age 18, while the costs of having three children amount to a whopping 365,000 euros.
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How Much Does a Dad of Two Spend on His Kids During One Week in Arlington, Virginia? Photo illustration by Slate. Photos by Getty Images Plus. It costs $233,610 to raise a child from birth through age 17, according to the U.S. Department of Agriculture's latest estimate.
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And that number only covers costs from birth through age 17 -- so it doesn't include college expenses. Families can expect to spend between $12,350 and nearly $14,000 a year, on average, to raise a child.
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HONOLULU (HawaiiNewsNow) - Parents: Brace yourselves. A new national report puts the average cost of raising a child born in 2015 at a whopping $233,610.
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$451 if you are single. $592 if you are married or living common-law. $155 for each child under the age of 19.