Cost of Raising Up Year 2007 Babies

A study was done by United States Department of Agriculture on the costs involved in raising up a baby born in the year of 2007 till he/she is 18 years old (that would be year 2025).

With the cost of providing food (17%) and child care and education expenses (12%) taking up the majority of the costs involved, it also depends on your disposable income at the end. But on average, families were expected to spend US$204,060 on feeding, housing and schooling a child. That's easily RM650,000 for the full 17 years. Having two kids could make you an instant millionaire. Lemme count, that would be roughly US$12,000 or RM38,000 required per annum per child.

The study also stated that families making less than US$45,800 (RM146,000) per annum would likely spend around US$148,320 (RM474,000) on the full 17 years on one child . Those earning more than US$77,100 (RM246,000) a year, will spend approximately US$298,680 (RM955,776) till the kid's 18th birthday.

By the time they are a teenager, with inflation setting in in years to come, you have to be a multi-millionaire to raise a kid. Getting too ridiculous, isn't it?

I wonder why they stopped the study at age 18. Maybe you need to be a billionaire from there onwards with their college and university fees included.

Reading: Raising that '07 baby will cost $204,060 in U.S. - Reuters

Related post:-
* How to Survive With Your Salary?
Tags: Cost of Raising a Child, Child Rearing Cost, Cost of Living