Thursday, September 22, 2011
Raising a child drained parent’s budget over the past decade, according to a new report released by the U.S. Department of Agriculture.
The agency found that expenses for a child from birth to 18-years-old, not including college, jumped 40 percent from 10 years ago.
It now costs about $227,000 to support a child up to the age of 18.
Every expense, from groceries to gas rose significantly, putting a strain on parents budgets.
The report also found that median household income fell seven percent during the past decade.