Cost to raise a child jumps to $300,000

Updated: Aug 23, 2022 / 10:36 AM CDT

ovp test

mLife Diagnostics LLC: Oral Fluid Drug Testing

Male shot by female at Shreveport apartment

Class to create biodiverse backyard

Rules for outbursts at Caddo School Board Meeting

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

Loan Amount ($):

This is the total amount you're borrowing from the bank.

Annual Interest Rate (%):

This is the yearly interest rate on your loan.

Loan Term (years):

This is how long you'll take to repay the loan.

Annual Property Tax ($):

This is the yearly tax you pay on your property.

Annual Homeowners Insurance ($):

This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

(NewsNation) — The cost of raising a child through the age of 17 has risen higher than $300,000 due to soaring inflation, according to a new analysis.

Inflation in the U.S. has skyrocketed, hitting 9.1% in June before falling to 8.5% in July.

The Brookings Institution ran the numbers for The Wall Street Journal and found that the average amount a married, middle-income couple with two children would spend to raise a child born in 2015 through high school is now estimated to be $310,605.

The Brookings Institution came up with the estimate based on data from the U.S. Department of Agriculture’s last “Expenditures on Children by Families Report” in 2017 and updated it to account for the higher inflation rates the U.S. is seeing now.

The price tag includes a range of child expenses, including food, health care, clothing, child care and activities.