Wednesday, May 25, 2011

MoneySense magazine reports that
children are expensive

The latest issue of MoneySense magazine reports that it costs $1.45 an hour to raise a child; an astounding total of $243,660 to raise one to age 18.  And that doesn't include the costs of sending them to college or university. According to a release from the personal finance magazine, it teamed up with a consulting firm to compile the statistics and found that kids cost less as they get older (it's costlier to clothe a baby than a teenager, for instance) but that a steadily larger proportion goes on food ($895 for an infant, $2,400 for a teen). The issue gives a breakdown of the various expense categories including food, clothing, health care, personal care, recreation, transport, shelter, furnishings and childcare.



Anonymous Anonymous said...

Okay, this really has nothing to do with magazines, but ... I wonder how they figure a teen will only eat $2400 in a year? My family of 4 spends over $20,000 per year on groceries alone and my kids are only 7 and 10. If we divide it equally, that $5000 each, per year. There's no way we could cut our grocery bill in half and only eat $2400 each.

3:11 pm  
Anonymous Anonymous said...

Wow, guess I should have wore a condom.

12:01 pm  
Anonymous Anonymous said...

Really, you spend OVER $400 a week on groceries? That's just kooky. Are you trying to eat yourselves to death?

6:55 pm  

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