Let's face it: Kids don't come cheap. But ask any parent and they'll more than likely say their children were well worth the cost in not only time and treasure but blood, sweat and tears, as well. But have they—or you—actually thought about just how much, in dollars and cents, it actually costs to raise a kid to age 18? Well, the federal government has done the math for you. According to the U.S. Department of Agriculture, middle-income American parents can expect to spend a total of $245,340 to raise a child who was born in 2013 (the latest year for which figures are available).
Here, we break down this number into seven major expense categories—including food, clothing, child care and education (not including college), transportation, housing and health care—and then look at some of the expenses not included in this figure, such as regional and higher-education costs.
Source: U.S. Department of Agriculture
By CNBC's Kenneth Kiesnoski
Posted 14 July 2015