You Won’t Believe How Much It Costs To Raise A Child

At my house we started sports yesterday and had to get all the gear and equipment needed for that. We also need to go school shopping for shoes and clothes and ALL the supplies. So it got me thinking...how much does it actually cost to raise a child nowadays?

Well according to the newest report from the U.S. Department of Agriculture, it now costs an average of $245,000 to raise a child! Oh and I should mention that does not including college! It includes housing, food, transportation, clothing, health care, education, childcare, and random things like haircuts and presents.

The cost does vary depending on where you live. If live in a city in the northeast, it could cost closer to $455,000. If you're in a rural area in the south, it costs more like $145,500.

I have two children, that is going to be close to $500,000....I am officially depressed and need to start looking for a second job now!

CNN Money