Cost of raising a child
Introduction The '''cost of raising a child''' varies from country to country.The cost of raising a child is usually determined according to a formula that accounts for major areas of expenditure, such as food, housing, and clothing. However, any given family's actual expenses may differ from the estimates. For example, the rent on a home does not usually change when the tenants have another child, so the family's housing costs may remain the same. In other cases, the home may be too small, in which case the family might move to a larger home at a higher cost. The formula may also account for inflation, as prices are constantly changing, and it will indirectly affect how much it costs to raise a child.
Developing countries According to Globalissues.org, "Almost half the world—over three billion people—live on less than US$2.50 a day." This statistic includes children. The calculation of the cost to raise a child in developing countries is difficult, since families often do not operate with currency, but barter or trade to provide for their children. It is argued that in developing areas the balance between earnings and costs of having children is changing, because the mean number of children per couple in many developing areas has decreased dramatically, especially in Asia, North Africa and the Near East. According to a 2020 report, 356 million children – 17.5 per cent– live in extreme poverty (less thanUS$1.90 a day).=== Argentina ===Argentina's INDEC provides a breakdown of minimum costs per person in household, known as the "canasta básica total", this metric doesn't measure the average cost, but the minimum cost (poverty line) and is published monthly. All values are per "equivalent adult".+Monthly values of the "canasta básica total" for Greater Buenos AiresAgeCost per month(converted to US dollarsvia official exchange rate)Equivalentadultless than 1$ 86.960.351$ 91.930.372$ 114.290.463$ 126.710.514$ 136.650.555$ 149.070.606$ 159.010.647$ 163.980.668$ 168.950.689$ 171.430.6910$ 196.280.7911$ 203.730.8212$ 211.180.8513$ 223.610.9014$ 238.510.9615$ 248.451.0016$ 255.901.0317$ 258.391.0418 to 29$ 253.421.02Data for June 2022.Exchange rate 1 US dollar is 135,7500 ARG (July 2022). This aggregates to around $ 41,501.40 from birth to 18 years old.=== India ===Based on an estimate by Economic Times in April 2011 and adjusted to inflation for August 2022, the cost of raising a child from birth to age of majority (21 Years) for a middle to upper-middle income family comes to about  in total.Cost break up is as follows:+ Cost of raising a child in India (as of August, 2022) Expenditure class Estimated cost (Rs. lakh) % of costEducation  49.35  46%Housing  20.37  19%Entertainment  12.87  12%Clothing  6.44  6%Food  5.36  5%Transportation  5.36  5%Healthcare  4.29  4%Others  3.21  3% '''Total'''  '''117.25'''  '''100%'''Note: Estimate assumes cost of birth, but doesn't consider any major illness in child.
Developed countries === United Kingdom ===Child Poverty Action Group’s annual cost of a child report looks at how much it costs families to provide a minimum socially acceptable standard of living for their children. The 2022 report shows the cost of raising a child from birth to 18 years old as £157,562 for a couple family or £208,735 for a single parent/guardian.The Times estimates that it costs £202,660 to raise a child from birth to 18 in the UK. This includes the cost of housing and childcare. This works out to an average approximate of £11,250 per year, or £938 per month.=== United States ===Based on a survey by the U.S. Department of Agriculture, the table below shows the estimated Average Spending on Children by Families. The data comes from the Consumer Expenditure Survey by the U.S. Department of Labor, conducted from 2005-06.The figures have been updated to 2011 dollars using the Consumer Price Index. However, some dispute the numbers as being biased high for political reasons (e.g., Texas A&M University Finance Professor H. Swint Friday: "The numbers, reported by the U.S. Department of Agriculture, are outrageously misleading. Often government statistics are produced for political objectives that cause the research methodology to be biased toward finding the highest dollar amount to support the objective. ").These figures from the USDA go up to age 18, and do not include any college or university education. Nor does it offer any spending estimates if the child remains in the home as a dependent after the age of 18.Both tables are for the United States overall, not based on any specific region in the country.+Dual-Parent Family - USDA Average Spending per Child (not the basic cost of raising) Ageof Child Housing Food Transport. Clothing Health Child Care/Education Misc. TotalBefore-tax income: Less than $59,410 (Average = $38,000)0 to 2  2,990  1,160  1,170  640  630  2,040  420 9,0503 to 5  2,990  1,260  1,230  500  590  1,910  620 9,1006 to 8  2,990  1,710  1,350  570  660  1,290  630 8,7609 to 11  2,990  1,970  1,350  580  710  1,910  630 9,52012 to 14  2,990  2,130  1,480  690  1,090  1,110  700 9,96015 to 17  2,990  2,120  1,630  730  1,010  1,290  589 9,970'''Total'''  53,820  31,050  24,630  11,130  14,070  23,640  10,740 '''169,080'''Before-tax income: $59,410 to $102,870 (Average = $79,940)0 to 2  3,920  1,405  1,690  760  850  2,860  890 12,3703 to 5  3,920  1,490  1,740  610  800  2,740  1,090 12,3906 to 8  3,920  2,100  1,860  680  940  1,680  1,110 12,2909 to 11  3,920  2,400  1,870  710  1,000  2,110  1,100 13,11012 to 14  3,920  2,580  1,990  840  1,410  1,910  1,170 13,82015 to 17  3,920  2,570  2,150  900  1,330  2,400  1,050 14,320'''Total'''  70,560  37,620  33,900  13,500  18,990  41,100  19,230 '''234,900'''Before-tax income: More than $102,870 (Average = $180,040)0 to 2  7,100  1,900  2,550  1,050  980  5,090  1,790 20,4603 to 5  7,100  2,000  2,610  880  930  4,970  1,990 20,4806 to 8  7,100  2,630  2,730  970  1,080  3,910  2,000 20,4209 to 11  7,100  2,980  2,730  1,010  1,150  4,350  2,000 21,32012 to 14  7,100  3,190  2,860  1,170  1,610  4,700  2,070 22,70015 to 17  7,100  3,180  3,020  1,280  1,520  6,460  1,950 24,510'''Total'''  127,800  47,640  49,500  19,080  21,810  88,440  35,400 '''389,670'''All numbers are in US dollars.+ Single-Parent Family - USDA Average Spending per Child (not the basic cost of raising) Ageof Child Housing Food Transport. Clothing Health Child care/Education Misc. TotalBefore-tax income: Less than 40,410 (Average = $18,350)0 to 2  2,840  1,400  680  410  520  1,400  510 7,7603 to 5  2,840  1,370  920  330  600  1,940  610 8,6106 to 8  2,840  1,830  1,030  340  670  1,940  780 8,4509 to 11  2,840  2,010  1,060  400  620  1,360  740 9,03012 to 14  2,840  2,150  1,130  420  940  1,120  840 9,44015 to 17  2,840  2,270  1,130  460  930  880  670 9,180'''Total'''  51,120  33,090  17,850  7,080  12,840  22,980  12,450 '''157,410'''Before-tax income: $59,410 or more (Average = $107,820)0 to 2  5,880  2,080  1,920  590  980  3,670  1,650 16,7703 to 5  5,880  2,070  2,160  500  1,090  4,210  1,750 17,6606 to 8  5,880  2,680  2,260  530  1,180  3,350  1,930 17,8109 to 11  5,880  3,000  2,300  610  1,110  3,880  1,880 18,66012 to 14  5,880  3,080  2,370  650  1,560  4,150  1,980 19,67015 to 17  5,880  3,220  2,370  730  1,550  5,010  1,810 20,570'''Total'''  105,840  48,390  40,140  10,830  22,410  72,810  33,000 '''333,420'''All numbers are in US dollars.
See also *Only child*Child care*Child support*Childfree*Cost of living*Demographic economics*Family economics*Family planning*Family values*Single parent*Middle-class squeeze
References
External links * "Raising that '07 baby will cost $204,060 in U.S." - from Reuters, retrieved August 5, 2012. * "Cost of raising children not as high as government would have you believe" - from caller.com, retrieved March 31, 2013. *" Cost of Raising Children in the US" - from Globe Life Insurance, retrieved September 11, 2013