Start a Family
Across the United States, annual child-rearing expense estimates ranged between $12,350 and $13,900 per child in a two-child, married couple family in the middle-income group (before-tax income between $59,200 and $107,400) on average. High income earners are spending closer to $500,000.
Expenses include…
…but don’t forget college!
Source: USDA 2015 Expenditures on Children by Families report, published in 2017
Cost of College
For 2017-2018, the College Board found that tuition, fees, and room and board cost students between $20k and $45k per year (on average) for public in state and private, respectively. This had increased about 3 percent from the previous year.
A child born in 2018, who goes to college starting in 2037 (at age 18) will be spending $150k or $345k respectively, over the course of four years.
| Start Year | Public | Private |
| 2018 | $20,770.00 | $46,950.00 |
| 2019 | $21,393.10 | $48,358.50 |
| 2020 | $22,034.89 | $49,809.26 |
| 2021 | $22,695.94 | $51,303.53 |
| 2022 | $23,376.82 | $52,842.64 |
| 2023 | $24,078.12 | $54,427.92 |
| 2024 | $24,800.47 | $56,060.76 |
| 2025 | $25,544.48 | $57,742.58 |
| 2026 | $26,310.81 | $59,474.86 |
| 2027 | $27,100.14 | $61,259.10 |
| 2028 | $27,913.14 | $63,096.87 |
| 2029 | $28,750.54 | $64,989.78 |
| 2030 | $29,613.05 | $66,939.47 |
| 2031 | $30,501.45 | $68,947.66 |
| 2032 | $31,416.49 | $71,016.09 |
| 2033 | $32,358.98 | $73,146.57 |
| 2034 | $33,329.75 | $75,340.97 |
| 2035 | $34,329.65 | $77,601.20 |
| 2036 | $35,359.53 | $79,929.23 |
| 2037 | $36,420.32 | $82,327.11 |
| 2038 | $37,512.93 | $84,796.92 |
| 2039 | $38,638.32 | $87,340.83 |
| 2040 | $39,797.47 | $89,961.06 |
| $152,369 | $344,425.90 |