The Cost of Raising a Child in 2009: $222,360.00

The cost of raising children has certainly gone up since I was a little one, and not just due to inflation, either: NPR reports that it costs $222,360.00 to raise a child from day one to 18 years if the baby was born in 2009. That is a lot of money to raise just one child, and seems like an even bigger amount in our present economic climate. I do not know of too many people who have that sort of money in the bank, waiting to be used on raising a child. What is even more shocking is this: most parents spend approximately $50,000.00 in the first three years of their child's life. That would make most people's jaws drop. According to a study on Gurgle.com, two thirds of that amount is spent before the baby is one year old. That is still a lot of money. At $34,000.00 in one year - not including the hospital bill, that covers the basic necessities for the child. Then you have to figure in diapers, formulas, baby furniture, strollers, clothes, and everything else. That may amount to a lot of money, but there are more thrifty ways to provide the basic necessities for a baby. So why do so many people like to spend a lot of money on their babies?

Much of it has to do with wanting the very best, the latest, most trendy thing for their baby. Having just a stroller is not enough when one can purchase a $759.00 stroller for the newborn. What better way to show the world you care about your child? The only problem is, a newborn cannot really appreciate such an expensive stroller. Hey, the kid is probably happy enough to get a ride anywhere out in public, never mind the value of the stroller. Then one has to calculate the cost of birthday celebrations, since the majority of children's birthdays are celebrated in malls, restaurants, mall food courts, and the like. As soon as the child is old enough to walk and talk, her come the iPods, iMacs, and other assorted i-toys that can run into the thousands of dollars. But, it is trendy, so you have to get it for the child.

Since the $222,360.00 takes the child to the age of 18, not including college expenses (depending upon where your child wants to attend school, that can be very costly, like an Ivy League school, or a state university). That is, if you are lucky the child moves out at the age of 18. Some kids stay home due to financial reasons, as apartment rent can cost a lot of money. Children cost a lot of money to raise and provide for. Being wealthy seems to be the only way to be able to actually afford children, even though some wealthy people choose to not have kids. It can be a struggle to raise a child not just emotionally but financially.

http://www.npr.org/blogs/money/2010/06/09/127600351/cost-to-raise-a-child-300-000

http://www.dailymail.co.uk/news/article-1169872/Parents-spend-27-500-kids-theyre--year.html