The average cost of raising a child in the US is $237,482. How are parents spending that money?
Children cost a lot of money. In the US, the average cost of raising a child from birth to age 18 is $237,482, according to one 2023 study. And that’s just the price of the “bare bones” expenses – necessities like rent, food and childcare. In the UK, raising a child costs on average £223,256.
But those numbers can feel abstract. So, to get a better understanding of what parenting costs really look like, we asked four sets of parents to break down how much they spend on their child or children per month.
More Stories
Australian house prices hit new peak as rate cut drives buyer demand
Hyundai facing legal action over car that can be stolen ‘effortlessly in seconds’
Canadian company in negotiations with Trump to mine seabed