Child Care Costs

The price of gas and food isn't the only thing going up. Now it costs more to raise your offspring.

According to a recent government estimate it costs about $291,000 to raise a child born in 2008 to adulthood. This is up about $23,000 from last years estimate. The number covers food, shelter, education and other necessities for a child to reach 18, it does not take into account the cost of the actual birth, college or any other institutes of higher learning. According to the report, housing accounts for one-third of the expense with food, education and child care each taking up 16% of the cost.

The USDA has been making this estimate since 1960 when the cost to raise a child was estimated at a measly $25,000. The USDA also reports that child hood expenses are highest in the Northeast and urban areas of the West and Midwest, and are lowest in rural America and cities in the South. So while you can't cut down on family members at least you know what to bill your kids after they're finally bringing home their own bacon.