It costs how much to raise a child?!

Kids cost money. 

This shouldn’t be a shock to anyone but how much it costs is certainly alarming. 

How much does it cost to raise a kid to 17/18 years of age?

Between $300,000-400,0000 or put another way a few thousand a month per kiddo. 

Oh! This number doesn’t include higher education costs. 

Where is our money going each month?

Raising the next generation is part of the complicated nature of our current economic situation and must be taken seriously. Much of the guru wisdom would just come in and say you need to cut out all the frills, less toys and other aspects of childhood that are unnecessarily taking your money.

But, is that really what is behind this number? Not really - although I can guarantee my boys would love me to spend that amount each month on LEGO, lightsabers, video games and more.

ABC recently had an article looking closer at the numbers.

29% Housing

16% Childcare and Education

18% Food

15% Transportation

9% Healthcare

7% Misc.

6% Clothing

If you are a parent, there is a simple solution to the economic costs of kids - don’t house, feed, educate or clothe them!

Take a look at the article below and see how it maps onto your experience and understand the economic value of allocating your resources to the next generation. It is significant and a worthy investment.

https://abcnews.go.com/amp/GMA/Family/costs-raise-child-us/story?id=120376717

As always, if you come across a financially related article you’d like to send my way please do! 

Best place to send them is to me.

More next time!

Jonathan