Planning family finances requires understanding the multi-year costs of raising children. Official USDA data outlines historical expenditure baselines for raising a child through age seventeen.
The USDA Expenditures on Children by Families report established a baseline cost of $233,610 in 2015 dollars. Housing represents the single largest expenditure category at approximately 29% of total costs.
Childcare, education, food, and healthcare comprise the remaining major spending categories before college. Inflation and rising childcare rates have pushed current expenditures even higher.
Tracking major family expenditure categories prepares parents for long-term child costs.
Which line in that breakdown is largest for your household?
(For educational purposes only. Not financial advice.)
