News

Report: Cost to raise today’s child tops $245,000

Report: Cost to raise today’s child tops $245,000

PAYING FOR BABY: The USDA's report was first issued in 1960, when a middle-income family spent about $25,230 per child. That's about $198,000 in 2013 dollars. Photo: clipart.com

WASHINGTON (AP) — A federal report finds that an American child born last year will cost a middle-income family an average of more than $245,000 until he or she becomes an adult.

The Agriculture Department’s report found that families in the urban Northeast tend to pay more on average than the rest of the nation. The costs of food, housing, childcare and education have risen 1.8 percent since 2012.

The USDA’s report was first issued in 1960, when a middle-income family spent about $25,230 per child. That’s about $198,000 in 2013 dollars.

Housing expenses made up 30 percent of the cost, followed by childcare, education and food. The report didn’t factor in expenses after a child turned 18, such as college tuition.

News

in Entertainment

‘Scary Lucy’ is getting a facelift

24-overlay5

The Lucille Ball statue that haunted a New York town is finally going to be replaced.

in Entertainment

NPR’s ‘Serial’ plans 2 more seasons

serial

"Serial" junkies, get out your sleuthing kits again.

in Entertainment

You can be on ‘House of Cards’

houseofcards

It's your chance to be part of a Washington scandal, and you don't even have to bribe a member of Congress.

in National

FCC takes aim at annoying telemarketing calls

robocalls

Those automated phone calls during the dinner hour, late at night or to your wireless phone can be so frustrating — and the government is taking note.