September 25, 2022

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USA: Wsj, the cost of raising a child is at least $300,000

NEW YORK, Aug 19 – It costs at least $300,000 to raise a child. According to a Brookings Institution estimate, reported by the Wall Street Journal, the expenses a middle-income couple with two children would have to contend with are $310,605, averaging $18271 per year, to raise the youngest born child. in 2015. Until the age of 17. The cost has gone up due to inflation which is nearing its maximum in the last four decades. The Brookings Institution uses an earlier government estimate as a reference, with adjustments for inflation trends, and notes that the multi-year total has increased by 26,011, more than 9%, compared to an inflation-based calculation two years ago. The estimate covers a variety of expenses including housing, food, clothing, healthcare, and child care, as well as other necessities such as diapers, haircuts, sports equipment, and dance lessons. “A lot of people will think twice before having their first child or even another child, because everything costs more,” Brookings Institution researcher Isabel Sewell explained. He added that the increase in expenditures to raise a family can disproportionately affect low-income families.

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