The Expenditures on Children by Families annual report provides estimates of the cost of raising children from birth through age 17 for different budgetary components, including food, housing, transportation, health care, clothing, child care and education, and miscellaneous costs.
2015 Expenditures on Children by Families Report (released January 9, 2017)
With USDA’s Cost of Raising a Child Calculator, you can estimate how much it will annually cost to raise a child. This may help you plan better for overall expenses including food, or to purchase adequate life insurance. Please note: This is an educational tool based on USDA’s Expenditures on Children by Families, 2015 report. This tool is not a recommendation to buy or invest in any particular product or security.
For general information on financial planning and budgeting, see MyMoney.gov.