What is the cost of raising a child?

Expense:

These are the categories of cost for raising a child.

Starting age:

Enter the first year this expense will be required by your child here.

Ending age:

Enter the last year this expense will be required by your child here.

Annual amount:

Enter the amount spent on this expense every year.

Child care:

Include babysitting, day care, nannies and nursery school costs here.

Groceries:

Include all additional food costs here.

Clothing:

Include baby clothes and school clothes here.

Gift giving:

Include birthday gifts, holiday gifts and allowance here.

Bigger home:

Include the net costs for a bigger home or home addition here.

Bigger car:

Include any costs for a new car, carpooling or special busing here.

Education:

Include any private schools or home teaching costs here.

Recreation:

Include the costs for any sports, vacations or toys here.

Additional insurance:

Include the additional price of insurance for the child here.

Health care:

Include average medical bills and cost of treatments here.

Miscellaneous:

Include all other costs that don't fit into another category here.

Total amount needed to raise this child:

This number is the total of all annual expenses for all years of the child's life.

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