The Changing Cost of Education When Raising a Child

Cost of Raising a Child 1960-2013

Raising a child from birth all the way to adulthood is not only a great challenge physically and emotionally, it is also quite pricey. Many publications have been written regarding the total cost of raising a child and how it has increased over the years. After combing through the data from the United States Department of Agriculture, I wanted to point out one interesting trend.

The data is broken down into spending by category as a percentage of total spending. The interesting part is that the share of spending on childcare and education has increased from 2% in 1960 to 18% in 2013.

 

 

 

 

The only other category that increased its share of the cost is, not surprisingly, healthcare.

Category 1960 2013
Housing 31% 30%
Food 24% 16%
Transportation 16% 14%
Miscellaneous 12% 8%
Clothing 11% 6%
Health Care 4% 8%
Child Care and Education 2% 18%

Edit for clarification: the costs in the data source are the total from birth to 18 years of age and for children that are born in each year (1960 and 2013).
Data Source: United States Department of Agriculture.

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