Have you ever sat down and thought about how much a child costs to raise? If not, just think about it for a minute, how much it would cost to raise a baby from birth to after high school. For you it’s probably incredibly hard to even try thinking about; not even knowing where to start. Well here it is, depending on your income, it is going to take an average of $325,000 to raise a child. (Give or take around $100,000).
When taking in consideration how much it costs to raise a child, you have to think about where you live. If the child grows up living in a big city with lots of things to do, then the cost will increase. While living out in the country with limited things to do, the cost will probably decrease. If you live in the country, your child will also have many things to so such as chores. If the parents are smart, they will have the kid do a lot of the chores including the ones the parents should be doing. So just remember, location matters.
Food also plays a major role in this. There are ways to minimize the cost of food with things such as WIC (Women, infants, and children), food stamps, and many others. These all will help pay for food and try to help you with the cost of raising a child, but when it comes down to it, it is still expensive. Some families will get food stamps or things like it, but they most likely won’t use all of the food stamps (or other benefits). Sometimes they will forget to bring the food stamps to the store, but not want to take the time to go back and get it, which results in only half of the help.
In addition to location and food, the economy also lies in this. If the economy is doing well, then raising a child would be easier. The cost of everything will be cheaper. When turning around the age of 16, the child will become more expensive. This is when a car and gas comes into play. Gas becomes an everyday necessity, and maintaining your car also becomes a necessity. What happens if child’s...