PRESENTATION OUTLINE
"The biggest price tag is for families in the urban Northeast earning $105,360 or more. They will spend $446,100, much more than the national average, according to the report. Meanwhile, families earning less than $61,590 a year in rural areas will spend the least, at $143,160." (CNNMoney, pg. 1)
For 18 years, I will spend $3,350 on food.
Housing would cost $6,100.
Transportation would cost $1,690.
The cost of clothing would be about $620.
Childcare and education would cost $3,970.
Healthcare would cost be about $1,040.
Misc.
This includes the average amount I'll spend yearly on the child's personal care items, entertainment, and reading materials.
I will probably spend $1,860
The total of all this would add up to about $21,550 a year!!!
So if we multiply the total by two, we should get
$43,100.
So, now we know I will be spending $43,100 yearly to raise two children, but how much would each individual thing cost?
THE MATH
- Healthcare- $2,080
- Childcare & Edu.- $7,940
- Clothing- $1,240
- Transportation- $3,380
- Housing- $12,200
- Food- $6,700
All in all, taking care of two children seems like a lot of work.