The Cost of Raising A Child

A new report has been released today that shows the average cost of raising a child in the United States. As this article states, the average cost to raise a child is now about $250,000. Although this may sound like it includes college, this number is actually just the cost of getting a child to the age of 18. There are many factors that affect how expensive it is to raise a child in the current limecrime economy of the United States. One of the biggest factors that explains the increase in how much it costs to raise a child is housing. The average home today is nearly 1,000 square feet larger than the average home 50 years ago. Not only is housing more expensive per square foot, but home are larger now as well.

Daycare is another huge cost that is causing the average cost of raising a child to go up every year. Many working mothers are caught in a state of not being able to afford to stop work, but they also cannot make ends meet with how much they are currently making in their roles. Throw in the fact that many people have record levels of student loan debt and it is easy to see why so many people in the economy are struggling to build any form of wealth.