Raising A Kid Costs How Much??

Wise Brothers—-Chattanooga, TN

Raising A Kid Costs How Much??

Everything is expensive nowadays, so maybe this won’t come as a shock, but a new LendingTree report says the average cost of raising a child in the U.S. is now more than $300,000 over 18 years. And daycare continues to be the biggest expense across the country.

Hawaii ranked as the most expensive place to raise a child, with families spending more than $40,000 a year.  Maryland was #2 and Massachusetts was the third most expensive. On the other end, Mississippi came in as the cheapest state, followed by Alabama and South Dakota.

The study says parents now spend nearly 22% of their income on child-related costs.

Photo by Marisa Howenstine on Unsplash

Courtesy of Business Insider