If you’re starting to plan a family and want to get a realistic grasp on what raising a child may cost, check out today's HER Daily Dose, it may be more than you think.
Hi, I’m Bailey Mosier. This is your EmpowHER HER Daily Dose.
If you’re starting to plan a family and want to get a realistic grasp on what raising a child may cost, a recent government report says across 17 years it will cost you $235,000. That number keeps rising and is up 3.5 percent since two years ago.
The report considers middle-income parents to be those with an annual income between $59,400 and $102,870. The report found housing to be the single largest expense, accounting for 30 percent of the total cost, and the cost of child care is now the second largest expense as more moms work outside the home.
The estimate also includes the cost of transportation, child care, education, food, clothing, health care and miscellaneous expenses. So if you’re starting to think about bringing a child into this world, it’s smart to plan ahead and make sure it’s a responsibility you can afford to take on.
That wraps up your EmpowHER HER Daily Dose. Join me here at EmpowHER.com every weekday for your next dose of women’s health.