The cost of raising a child is considerable. Each year, the United States Department of Agriculture issues a report about what parents can expect to pay to raise a child. Taking a look into the figures noted in this report makes it really easy to see why it is imperative for parents to pay child support for a child when it is ordered by the court.
For a child who was born in 2015, middle income parents in this country can expect to pay an average of $233,610 to raise a child up through 17 years old. The average for this cost is a bit lower in Tennessee. The average here is $221,730. One thing that is interesting to note is that this averages out to around $12,350 to $13,900 per year for the child.
The report breaks down the spending into different categories. The cost of housing for the child accounts for the largest percentage, 29 percent, of any category.
Food comes in second on the list. It accounts for 18 percent of the cost of raising a child. The amount parents can expect to spend in this category changes as the child grows. A child who is two years old or younger will cost around $1,580 per year. A child who is 15 to 17 years old is much higher with a cost of $2,790.
The cost of child care and education is around 16 percent and transportation comes in at 15 percent. Health care accounts for around 9 percent, miscellaneous costs account for about 7 percent and clothing for about 6 percent.
Whether you are the parent receiving the child support or the parent paying it, you should be sure that you understand the court order and comply with it so that your child has the financial support necessary.
Source: FOX 17 Nashville, “USDA reports cost of raising a child born in 2015: $233,610,” Adrian Mojica, Jan. 09, 2017