Infographic Category Finance

Find Out The Actual Cost of Raising a Child From Infancy Until Adulthood

By | source:Here Feb 21st, 2017

I can’t get enough of newborn babies. I know everyone doesn’t love kids, but I’m pretty excited to have kids of my own one day. But how expensive is it to have a child, and how does it compare to how much our parents and grandparents spent?

Childcare and education costs have soared since 1960. A babysitter was roughly $5.70 an hour in 1960 (adjusted for inflation). In 2011, a night out with a sitter costs almost double that.

The cost of childbirth is something else that’s increased a ton in recent years. It only ran you about $1,000 to give birth 50 years ago, but that’s increased tenfold since then.

Surprisingly, housing hasn’t changed much. It still accounts for about 1/3 the cost of raising a child for 18 years. Food costs have actually gone down –– once we adjust for inflation, it’s much cheaper to feed a child today. The same goes for clothing.

This infographic only covers childrearing costs from infants to 17-year-olds. How do parents afford to pay for things after that –– and is college really worth saving for? Find out more by checking out our post here.

 

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