Cost of Raising Children

I usually do not pay that much attention to articles that forecast the cost of raising children. Why? Number one because with seven children and another one on the way it overwhelms me. Number two because for the most part most the articles do not run an itemized list of what their calculations include, so how do I know if I can even compare their costs to what we are actually paying for our children?

CBS Money Watch has a new article posted entitled, “Raising Children Costs Between $286,000 and $476,000.” Ok, new parents or those who have yet to start your families and all of you that have families, don’t those figures scare you just a little? I mean seriously. If people waited until they had enough money to have children, no one would be having them. Children are the future leaders, doctors, lawyers, politicians, nurses, mothers and fathers. No matter how much it costs to raise them, the investment – money and otherwise – is worth it. After all, it is children and their children and their children and so on who will be here long after we are gone.

The difference between the CBS article and others that I have read or scanned in the past is that the CBS writer tells us why it costs more today to have children than in 1960. It is because childcare and healthcare costs have sent the figures through the roof. She also says that housing and food costs are the same as they were in the 60’s. Clothing and transportation are actually lower today than the 1960’s figures, if you can believe that. I was surprised.

Stacy Bradford’s MoneyWatch article was based on a newly released USDA report that shares how much it costs to raise a child.

To read the complete article, please visit www.moneywatch.bnet.com

P.S. I loved the baby feet photo she used, so I used it too. Credit goes to gabi_menashe, courtesy of CC 2.0