Children Today Not Much More Expensive Than In 1960: Up To A Point

28th Nov

A Forbes article in relation to the expense of children now in comparison to 1960


Children Today Not Much More Expensive Than In 1960: Up To A Point

  • According to the U.S. Department of Agriculture, the cost of raising a child to the age of 18 is now a breathtaking $226,920.
  • According to the U.S. Census, the median income of families in 1960 was $5,600; in 2010, it was $49,445.
  •  In 1960, the projected cost to raise a child to the age of 18, in 2010 dollars, was $185,856. This means that in 1960 a child would have cost 450% of a year’s income, vs. today’s 459% of annual income.
  • The food allocation has dropped from 24% to 16%; we tend to forget, as a nation, just how much of a bargain our food is.
  • Health care, has doubled from 4% to 8% of the total cost of raising a child.
  •  Child care has grown enormously, from 2% to 17%, no doubt due to households in which both parents work

 

http://www.forbes.com/sites/tombarlow/2011/11/18/children-today-not-much-more-expensive-than-in-1960-up-to-a-point/

 

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