|
Monday, August 25, 2014 - 5:28pm

Child raising expenses increase

Child raising expenses increase
News
Sunday, June 17, 2012 - 10:41pm

EL PASO -- Father's day comes once a year, but raising kids is a year long challenge and very expensive according to the United States Agriculture Department.

The USDA said it takes about $235,000 to raise a child from the day they are born to their 17th birthday.

"It hasn't gone up that much," said Jesus Gardea who was having a picnic with his family Sunday, "I heard like 10 years ago it was $200,000."

In 1960, it was only about $25,000. With inflation that would translate to about $190,000.

Gardea said he credits a lot dedication in raising his kids.
"It takes quality time to become a good parent and to raise a family," Gardea said.

The USDA says 30 percent of that $235,000 goes toward housing. Education and child care amounts to 18 percent, with food at 16 percent.

As children get older they become more expensive as well.

As a new born, parents will spend a little more than $9,000. By age 17, they're looking at more than $15,000.

The USDA also says single parent households spend less money child rearing, but it's a greater percentage of their income.
 

Comments News Comments

Post new Comment