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Bundle of Joy Costs a Bundle
Raising a child estimated to cost a quarter-million
The latest estimate on what families will spend to raise a child from birth through age 17 is $249,180, according to the U.S. Department of Agriculture.
Sound high? The USDA bases that estimate on a family with a household income of $65,800 a year or more. For families earning $39,100 to $65,800 a year, the child-rearing cost is $170,460.
Here's a look at some of the major expenses in these estimates:
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Expense
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Cost through age 17
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Housing
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$41,520-$93,180
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Food
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$24,600-$36,780
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Transportation
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$17,610-$33,000
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Clothing
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$8,970-$13,530
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Health Care
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$9,390-$13,980
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Child Care/Education
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$9,990-$27,960*
*Does not include college
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