How much does it cost to raise a child from birth to 18 years?

Everyone knows that it’s expensive to raise a kid. Just how expensive is it to raise a child? The real price tag on raising a child from birth to 18 is pretty staggering- it may be far more than you ever expected it to be. Each child that you raise will cost more than buying three brand new, 2011 Jaguar XFs ($55,000 each).

When you think of the big, expensive times in a child’s life, your mind might linger on two major intervals in their lives:  when they’re a baby or when they’re a teenager.

However, there is no inexpensive time in a child’s life. Every phase in a child’s life comes with extensive expenses that can make budgeting difficult for most families. During the time from birth through age two, it costs about $11,700 to raise the younger child in a family that earns a middle class income and has two parents and two children. While this sounds like a lot of money, this is actually the least expensive three-year period in a child’s life. What is the most expensive one? Even if you’ve had kids, you may be surprised how expensive each phase of a child’s life really is. Few parents really take the time to add up all of those expenses, both small and large, and the real cost of raising a kid might come as something of a sticker shock.

Adjusted for inflation it costs $182,857 in 1960 and $222,363 in 2009 to raise a child to the age of 18. Take a look at the graphics for more detail.

Some of the costs are pretty much the same, while some costs have changed dramatically over the years. The cost of child care and education has changed enormously, costing more than eight times more than it did back then. But, parents these days are paying less for food and clothing. Are the costs different if you’re a single parent?

A husband and wife raising a child do end up paying a different amount as they raise a child than a single parent does. In 2009, there is about an $11,000 difference between the two groups when it came to what they pay to raise a child. . It costs $149,760 for single parent and $160,410 for married couple.

VisualEconomics