• The Cost of Raising a Child
  • June 8, 2017 | Author: Ronald G. Lieberman
  • Law Firm: Cooper Levenson, P.A. - Cherry Hill Office
  • Child support is designed to allow the child or children to maintain a standard of living, despite the divorce or separation of their parents. Frequently, I hear from either the payer or the recipient of child support, that it is too low to raise a child.

    Well, they are likely correct, which makes it even that much more important that individuals receive the proper amount of child support.

    Recently, the U.S. Department of Agriculture released its annual “Cost of Raising a Child” report estimating that families who had a child in 2015 will spend $233,610 (in 2015 dollars) from the child’s birth to age 17. The total takes into account expenses including food, housing, transportation, health care, clothing, child care and education. The report does not factor in the cost of college tuition or costs associated with pregnancy, adoption and childbirth.

    Researchers were quick to note that the spending estimates differ greatly depending on how many children are in a household.

    “As families increase in size, children may share a bedroom, clothing and toys can be reused, and food can be purchased in larger, more economical packages,” economist Dr. Mark Lino said in a press release about the report.

    This year’s report found that child-rearing expenses increased by 3 percent since 2014.