How much does it cost to have a kid

Cost of Children: Stats and Facts (Editor’s Pick)

The cost of raising a child until age 17 is $233,610 on average. Low-income married couples spend $174,690 on average to raise a child. Low-income single parents spend $172,200 to raise a child from birth until age 17.

Babies are expensive, costing as much as $16,000 per year. It’s important to budget for when your baby arrives. Maybe start paying down debt, saving what you can, and practise living on one income to see where you can cut costs before your baby arrives.

Nobody wants to think of their children as just an expense, but at an average annual cost of almost $17,000 (and the possibility that it could be higher, depending on where you live and childcare), the financial side of child-rearing can’t be ignored. But couples who know the numbers can strategize to lower the costs.