It’s not as expensive as you might think.
The conclusion reached by researchers at Bankrate–who took a closer look at just how costly it is to raise a child.
Bankrate’s Claes Bell told KTSA News they recently polled people nationwide, asking them how much they thought it might be to raise a child from birth to their first birthday.
“When we averaged out their estimates, we got an average of $24,131” Bell said.
While that sounds costly, some government numbers on the subject suggest otherwise.
“It (the government) found that the annual cost of raising a baby to age one is a little bit under $13,000” Bell said, adding “You can see Americans think it costs about double what the government thinks it does to raise a child through age one.”
Bell said college planning and lost income on that first year are not factored in to the government’s findings.