Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
USDA: Cost to raise child up slightly to $245,340
Tuesday - 8/19/2014, 10:50am EDT
WASHINGTON (AP) -- A message for new parents: get ready for sticker shock.
A child born in 2013 will cost a middle-income American family an average of $245,340 until he or she reaches the age of 18, with families living in the Northeast taking on a greater burden, according to a report out Monday. And that doesn't include college -- or expenses if a child lives at home after age 17.
Those costs that are included -- food, housing, childcare and education -- rose 1.8 percent over the previous year, the Agriculture Department's new "Expenditures on Children and Families" report said. As in the past, families in the urban Northeast will spend more than families in the urban South and rural parts of the U.S., or roughly $282,480.
When adjusting for projected inflation, the report found that a child born last year could cost a middle-income family an average of about $304,480.
The USDA's annual report, based on the government's Consumer Expenditure Survey, found families were consistent in how they spent their money across all categories from 2012 to 2013. The costs associated with pregnancy or expenses accumulated after a child becomes an adult, such as college tuition, were not included.
In 1960, the first year the report was issued, a middle-income family could spend about $25,230, equivalent to $198,560 in 2013 dollars, to raise a child until the age of 18. Housing costs remain the greatest child-rearing expense, as they did in the 1960s, although current-day costs like childcare were negligible back then.
For middle-income families, the USDA found, housing expenses made up roughly 30 percent of the total cost of raising a child. Child care and education were the second-largest expenses, at 18 percent, followed by food at 16 percent.
Expenses per child decrease as a family has more children, the report found, as families with three or more children spend 22 percent less per child than families with two children. That's because more children share bedrooms, clothing and toys, and food can be purchased in larger, bulk quantities.
The USDA's full report: http://www.cnpp.usda.gov/Publications/CRC/crc2013.pdf
USDA's "Cost of Raising a Child" calculator: http://www.cnpp.usda.gov/tools/CRC_Calculator/default.aspx
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.