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Rising Children

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Submitted By Spicy27
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The Cost of Raising Children Introduction: Many of you may have children or want to have children in the future, but have you considered the cost of raising them? If you have not, then you definitely should. The cost of raising kids should be incorporated into every budget plan when children are or are going to be a part of your household. To assist, this activity introduces a multitude of expenses associated with raising kids from birth to 18 years of age. Hopefully this introduction will help you strategically plan for a future that includes children. If you do not plan to have children, share the knowledge gained with others that do. Adjust your monthly budget and investment portfolio accordingly.
1. Guess. How much money does it take to raise a child from birth to the age of 18? estimated $250,000.00
2. What factors go into determining the cost of raising a child?
Housing, Food, Clothes, Child Care/Schooling, Health Insurance, and Misc. (money in their pocket, hair, extra events
.
3. In a new window, visit the website: Cost of Raising a Child Calculator | BabyCenter. Use the cost calculator to determine what it takes to raise a child in the following household. Your friend, Pat, is a single parent with a 1 year old. They live in a Tallahassee suburb and have $36,000 in annual net or take-home pay. Pat plans to raise this only-child until the age of 18. On high school graduation, Pat will financially support the teen’s pursuit of a college education at a public university.

a. Under this scenario, what is the total expense of raising a one-year-old toddler to 18 years using the cost calculator? $135,540.00
b. What does this translate into average annual expenses (divide the total cost expense by 17)? $7972.94. Monthly expenses (divide the average annual expense by 12)? $664.41
c. Biweekly (divide monthly expense by 2) $332.21

d. Provide a

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