A middle-income family is expected to spend $234,900 to raise a baby born in 2011. This amount counts 17 years of food, transportation, shelter and other necessities, according to a United States Department of Agriculture report.
The cost rose 3.5 percent from 2010 to 2011. Expenses with the largest increase from 2010 to 2011 were food, transportation, education and childcare. Childcare made up 18 percent of the total costs while housing made up the largest cost at 30 percent. Housing costs average $70,560 over 17 years, according to the report.
Where the child is raised is a factor in cost. The urban Northeast is the most expensive area to raise a family and the urban West is second, according to the USDA.
The report also found that if a family had three or more children they were able to share more items, which dropped expenses by 22 percent.
- BYU grad strikes gold teaching via online...
- Healing souls, healing a mountain
- San Diego Comic-Con tells Salt Lake...
- Dave Ramsey says: Don't leave an estate with...
- Sarah Palin launches online subscription channel
- Does getting married really increase wealth...
- Plan to simplify 2015 health renewals may...
- Utah Transit Authority eyeing electric bus...
- Fast food workers vow civil disobedience 13
- San Diego Comic-Con tells Salt Lake... 12
- BYU grad strikes gold teaching via... 12
- Dave Ramsey says: Don't leave an estate... 10
- Does getting married really increase... 8
- Sarah Palin launches online... 7
- Balancing act: Survey says lack of... 4
- 3 ways you can save money on movie... 3