how much does it cost to raise a child per year 2019?
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Average Cost of Raising a Child in America. The most recent available information says that the average cost of raising a child from birth to age 17 is $233,610 in a married two-parent middle income family with two children.
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The average cost of the first year is right around $13,000 — and that doesn't even include the cost of childbirth [source: USDA]. Fret not. We've compiled a list of the top ways you'll spend money — in general order of cost from low to high — in the first year of your baby's life.
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According to a 2016 study, the average cost of raising a child from birth to age 17 is $297,600 for a typical middle-class Australian family [1]. Even so, this cost can vary from household to household based on a variety of factors.
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Here's the good news: the more children that live in a household, the lower are the average costs per child. That said, parents of two children still face total costs of over 250,000 euros by age 18, while the costs of having three children amount to a whopping 365,000 euros.
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And that number only covers costs from birth through age 17 -- so it doesn't include college expenses. Families can expect to spend between $12,350 and nearly $14,000 a year, on average, to raise a child.
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On average, middle-income parents will spend $284,570 by the time a child turns 18. The largest expense is housing, followed by food. The cost of childcare varies widely and depends on where you live.
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According to the NATSEM Income and Wealth Report from 2013, for a middle-income family in Australia, the cost of raising two kids, from birth to when they leave home is $812,000. If you're a higher income family, this figure increases to $1.09 million whereas a lower income family can look to spend $474,000.
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The cost of having a baby isn't cheap — in the United States, at least. The average cost to have a baby in the US, without complications during delivery, is $10,808 — which can increase to $30,000 when factoring in care provided before and after pregnancy. ... The cost with insurance reflects the full hospital bill.
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According to the Census Bureau Reports, the average monthly child support payment is $430. But again, this is just an average and shouldn't be used as a guideline to understand how much you will be paying, or should pay, in child support.
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Raising a child in London costs more than a quarter of a million pounds, according to a new study. Parents shell out an average of £254,000 to bring up a child in the capital – more than anywhere else in England.
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All told, by the time that newborn baby turns age 18, U.S. families will have spent an average of $233,610 on their child – and that is before college tuition bills start factoring in to the household budget.
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Under the current system, foster parents are paid between $24.06 and $42.38 per child, per day. People who foster children older than 9 years old receive more than those who take care of younger children; people who must pay for day care receive more than those who don't.
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The average cost to have a baby in the US, without complications during delivery, is $10,808 — which can increase to $30,000 when factoring in care provided before and after pregnancy.
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Parents spend more than £300 a month just keeping a child in essentials, according to a new study. The bill for clothes, food, transport and other vital expenses is, on average, £3,700 a year. It means parents would have stumped up about £67,000 by the time a child reaches 18.
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After all the data was compiled, MoneyTips found that parents on average spend $80 more each month on a girl than a boy. This totals to $960 per year, and $17,280 over the 18 years a child is typically at home. Check out the chart below.
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It's generally estimated that raising a child will cost you $10,000 – $15,000 a year until the age of 18 in Canada.
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The Department of Agriculture says the estimated cost of raising a child from birth through age 17 is $233,610, or as much as almost $14,000 annually. That's the average for a middle-income couple with two children.