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Kids are priceless, but not cheap

Your kids may be priceless, but they certainly don’t come cheap. 

The pricetag on raising a child born in 2008 to adulthood will set you back US$291,570, the  U.S. Department of Agriculture says. And that doesn’t include college.

The figure, which amounts to just under C$312,000 at current exchange rates, covers food, shelter and other necessities, the department says in its annual Expenditures on Children by Families report.

Housing accounts for one-third of expenditures on children. Food accounts for 16 per cent, the same as child care and education.

The USDA has made the estimates since 1960, when the estimated cost was $25,300. Ten years ago, the cost was put at US$160,000. 

 

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