Friday, June 11, 2010

It's expensive to raise kids...more than it used to be

Interesting comparison of costs of raising a kid then and now.

I’ve often wondered how they and their generation managed to comfortably bring up kids on one income while my friends and I struggle to do it on two. The answer, it turns out, is pretty simple. Child rearing is now 22% more costly than it was back in 1960. Adjusted for 2009 dollars, middle income parents spent $182,857 on their youngsters in 1960. Today they spend $222,360.
Article says the fault is with health care and child care costs.

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