From daycare to monthly grocery bills, the cost of raising a child is climbing at a rate many families can’t keep up with.
It will cost an estimated $241,080 for a middle-income couple to raise a child who was born in the last 18 years.
That’s up almost three percent from 2011, and that figure does not include the cost of college.
At the same time, wages aren’t keep up with the climb. The country’s media annual income has dropped by more than $4,000 since 2000, after adjusting for inflation.
Many of the jobs lost during the recent recession have been replaced with lower wage positions.
The latest estimates from the U.S. Department of Agriculture include expenses for housing, food, transportation, clothing, health care, education and child care, as well as miscellaneous expenses like toys and computers.
Of course, the year a child is born makes a difference. Take a look at the calculations for a particular year here.