Costs for Raising a Child

The Cost of Raising a Child to Age 18

According to an analysis published online by Canada MSN Money in September 2012, the average cost of raising a child from cradle to their 18th birthday is $325,360.

  Average Yearly Cost Cost to Age 18
Food $1,505 $27,100
Shelter and furnishings $3,500 $63,000
Schooling $3,795 $68,300
Clothing $1,000 $18,000
Healthcare $400 $7,200
Personal care $320 $5,760
Transportation $2,500 $45,000
Extra-curricular activities $800 $14,400
$4,255 $76,600
TOTAL $18,076 $325,360

Note that these calculations are based on the assumption that this is a first child for a two-income couple. For more details, see this page on MSN Money