## What is the average annual cost of raising a child?

The average cost of raising a child born to a middle-income, married couple is approximately \$267,000 (in 2021 dollars) over a period of 18 years — or more than \$14,800 a year per child for a typical two-child household according to a U.S. News & World Report.

What is the cost of raising a child in 2020?

The cost of raising a child until age 17 is \$233,610 on average. Low-income married couples spend \$174,690 on average to raise a child. Low-income single parents spend \$172,200 to raise a child from birth until age 17. The average amount spent on raising a child in the Urban West is \$245,460.

### How much does it cost to raise a child in Australia?

A 2018 research by the Australian Institute of Family Studies shows that it costs low-paid families \$340 a week to raise 2 children, a 6-year-old girl and a 10-year-old boy, which is roughly \$170 per child. That’s \$8,840 every year or \$159,120 for 18 years per child.

How much does a kid cost per year Canada?

It should be no surprise that the cost of raising a child in Canada is expensive! It’s generally estimated that raising a child will cost you \$10,000 – \$15,000 a year until the age of 18 in Canada.

## How much should I budget for child?

Babies are cute, but they come with a big price tag. According to a US Department of Agriculture report, the average middle-income family spends between \$12,000 and \$14,000 on child-related expenses each year. For newborns, the cost is higher.

Is having a kid expensive?

According to the U.S. Department of Agriculture, the average cost of raising a child to age 18 was \$233,610 as of 2015. 1 With an annual adjustment for inflation of 2.2% each year factored in, the lifetime cost of raising a child born in 2022 could be estimated at \$272,049.

### How much does it cost to raise a child in Australia in 2021?

Parents in Sydney with a child starting at an independent private school in 2021 could expect to pay nearly half a million dollars (\$448,035 to be exact) in total.

How much did it cost to raise a child in 2021?

That report hasn’t been undated since 2017, but at that time, it found the cost of raising a child born in 2015 was \$233,610. That assumes the child was born to a middle-income, married couple. When adjusted for inflation, the number jumps to \$267,233 in 2021 dollars, based on data from the Bureau of Labor Statistics.

## Can I afford to have a baby Canada?

According to the CPA, it is estimated that having a child will cost Canadian parents anywhere from \$10,000 to \$15,000 per year until the child turns 18 years of age. That adds up to \$180,000 to \$270,000 for each child.

How much should I save for baby’s first year?

Some studies show numbers ranging from \$20,000 to \$50,000 for the child’s first year of life, depending on location and household income. Beyond the general items, like a stroller, crib, or car seat, here are some estimates of what you can expect to shell out in your baby’s first year.