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How much does it cost to raise a child born in 2022

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Photo: Tierney MJ (shutter stock)

are you thinking of having kids? Perhaps with the pandemic waning and the current low unemployment rate, do you feel ready to fulfill your biological destiny and add another mouth to the world? There is a need to know.

According to a survey from the brookings instituteRaising a middle-class child from birth to age 17 can cost approximately $310,605. This is up from her US forecast of $233,610. U.S. Faculty of Agriculture Back in 2015, and tHis culprit is higher inflation. Inflation expectations for 2015 were 2.2%the new figures are based on data from 1980 to 1997, the last period of relatively high inflation.And yes it takes into account Inflation Likely to Decline Due to Federal Reserve Interests Rate hike.

Here’s a breakdown of what percentage of the $300,000 will be spent on:

  • Childcare and eEducation: 16%
  • Transportation: 15%
  • Healthcare: 9%
  • others 7%
  • Clothing 6%

Before throwing in the towel on these dire numbers, I think there’s a lot that isn’t reflected in the USDA numbers. is solid — but the USDA is.report does not put the cost of raising children into the overall picture of family finances.

Hidden savings parenting

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As you can see from the USDA’s rather horrifying graph, 18% of total spending for children is wasted on food. (Fun fact: Children must eat every day Sounds about right, but considering your overall budget, keep Food expenses due to having a child. My wife and I did.

When we were a carefree, childless couple, we would go out to interesting restaurants a few times a week and enjoy a lazy brunch on Sundays.But after the baby was born, I forgot to eat out once a week. Meaning of “branch”. Isolation of meal times saved us a lot of money on total food costs. Having kids can even save you money on food at home, as many of our adult meals consist of half-eaten chicken nuggets dropped on the floor.

The same general rule applies to the money you save by not taking vacations to exciting places. And never go to the movies. Oh, I don’t go to bars with my friends or see concerts.and the ball game, that too! I also spent less money on clothing because I preferred to land my baby’s vomit on cheap shirts. Birthday gift prices drop Because I lost my friends. These savings are slightly offset by the increased amount we spend on marijuana, the modern parent’s best friend.

Hidden savings from having lots of kids

The USDA figure is based on one child, but its press release acknowledges that it’s “cheaper by the dozen effect.” Report author Mark Reno said in his statement: “There are big economies of scale when it comes to children…as families grow, children can share bedrooms, reuse clothing and toys, and buy food in larger, more economical packages. I can.”

Two children are cheap. 3 is still cheap. By the time your fourth child is born, clothes, toys, and books are practically free. is all hand-me-downs, so you don’t have to worry about overdoing it.that is It’s for siblings.

cost of sending a child to college

Your responsibility to your child does not end when your child turns 18. You should consider sending them to college. Like any reasonable parent, my wife and I made plans to go to college as soon as our son was born. The plan was for him to become a genius and win a full scholarship to Brown. This is why I haven’t looked up the estimated annual cost of college when he turns 18 until this very moment. please give me a momentHate actual intercourse?you shit myself? per $43,370 Year for a private school? So can he study dance? And $20,000 for public schools? Is it too late to move to a socialist utopia? Can I come to Belgium or something?

raise children to learn useful occupations

you know, tHis world is in constant need of plumbers and electricians.

How much does it cost to raise a child born in 2022

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