(Ivanhoe Newswire) – The U.S. Department of Agriculture’s Annual Expenditures on Children by Family report provides the cost of raising a child from birth to age 17. This year’s total was over 241,000 dollars, and that’s without the costs of pregnancy or college.
Seventy-eight percent of that cost is spent on housing, child care, education, food, and transportation. Here are some ways to cut some of those costs.
First is housing. Buy your own house if you can. Remember, cutting down one bedroom can save you four hundred dollars a month.
Next is child care and education. Half of the families who responded reported no costs because they used family members to watch their kids. Which turns out to be about 4000 dollars a year.
Third is food. Americans spend almost 40,000 dollars on it. Cut back on going out, buy generic, and use coupons to get this number down.
The fourth cost was transportation. Buying a car just one year old can cut the price by 20 percent on average. And keeping up the maintenance of your car can help save on gas costs.