what's the cost of raising a child in America today how much will it cost to raise your kid
are you thinking of starting a family chances are you've considered it once or twice if you are in a
serious relationship that's probably come up in conversation children are a lot of fun and it's
a noble idea to want to continue your family's legacy but there are some costs associated with
raising children that you should prepare for so in this video we're going to look at the cost of
raising a single child from birth to the average age they're expected to move out of their parents
house which research is disclosed is 22 years old although here's an interesting fact research has
found that more than 1 in 10 adults are still living with their mother and father at the age
of 40 isn't that shocking in a report released in 2017 the USDA says it will cost two hundred and
thirty three thousand six hundred and ten dollars to raise a child in America today that's a harsh
reality especially if you want a large family but there are some things you can do to prepare for
that reality the average middle-income couple with two children is estimated to spend two hundred and
thirty three thousand six hundred and ten dollars per child that number doesn't include college
expenses but with the average college tuition in America costing on average thirty three thousand
four hundred and eighty dollars in a private college and twenty four thousand nine hundred
and thirty dollars at a public college the cost of raising one child skyrockets to over a quarter
of a million dollars that's one expensive kid the cost of raising a child obviously
depends on several factors including housing food education from preschool through high school child
care health care personal care and entertainment expenses in 2015 the USDA surveyed about thirty
thousand households and determined the cost really depends on your lifestyle and where in the country
you live for instance it costs an estimated one thousand five hundred dollars more to
raise children in an urban setting versus a rural setting it cost parents in the urban northeast
about two hundred and sixty four thousand dollars to raise children versus just over two hundred and
twenty four thousand dollars in the urban Midwest contrast that with moms and dads who spend about
two hundred and thirty two thousand dollars to raise children in the urban South and a little
over two hundred and forty five thousand dollars in the urban West those living in rural areas pay
the least at an average of about one hundred ninety three thousand twenty dollars according
to the FDA data a family's largest expenses housing which accounts for twenty nine percent
of the overall cost of raising a child in America after that or food at eighteen percent child care
and education at sixteen percent transportation at fifteen percent health care at nine percent
seven percent for miscellaneous purchases and six percent for clothing if you anticipate paying for
your child's private school education or hiring tutors your cost would be higher than a family
that sent their kids to public school and if you grow a raise most of the food your family consumes
your food costs will probably be lower than the family the chops at the supermarket although
these costs are outstandingly shocking here's the good news family suit plan on having three or more
children can expect to spend twenty four percent less on average per child compared to those with
two kids this is thanks to a phenomenon referred to as the Cheaper by the Dozen effect thanks to
the economies of scale with regards to children as families increase in size children may share
a bedroom clothing and toys can be reused and food can be purchased in larger more economical
packages but don't let all these numbers overwhelm you children might be expensive but they're
worth every penny with all this information in mind you could be more financially prepared to
become a parent thanks for watching and if you guys would like more videos like
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