How much do parents pay for their little bundles of joy? The U.S Department of Agriculture has provided estimates of annual expenditures on children from birth through age 17, since 1960. Such information can help Texas family law attorneys and family court judges determine the amount of child support noncustodial parents should pay.
The Wall Street Journal reports that the cost of raising a child is getting higher, where a child born in 2009 will cost the parents an estimated $222,360 until he or she reaches adulthood. This is up less than 1 percent from the cost of raising a child born in 2008. However, the cost of raising a child rose 15 percent from 1960 to 2008 (which includes adjustments for inflation). The increases are largely due to the increasing costs of health care, child care, and education.
Parents might be sad to hear that this high price does not include the cost of sending a child to college. The cost of housing for a child (the average cost for an additional bedroom) makes up almost one third of the total estimated cost. Child care accounts for about 17 percent of the total spending and education makes up about 16 percent of the cost.
The good news is that families in Southern cities reportedly have the lowest costs for raising a child, making Houston an even more desirable place to raise a family. The cost of raising a child also gets less expensive with each child that you have. Annual child expenses usually range from $11,650 to $13,530 for a two-parent, middle income family. When calculating child support, all of these factors should be considered.
Related Resources:
- How to Calculate Child Support (FindLaw)
- What Expenses Can Be Paid With Child Support Payments? (FindLaw KnowledgeBase)
- Find Texas Family Law Attorneys (FindLaw)
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