It turns out that your little bundle of joy is going to cost you a big bundle of cash.
That’s according to a recently released U.S. Department of Agriculture report calculating the average cost of raising a child born in 2012. Accounting for food, shelter, schooling and other basic necessities, the report estimates that from birth to age 18, a kid will rack up a total bill of about $241,080, or just shy of $13,400 per year. When adjusted for inflation, that total translates to more like $302,000, or about $16,800 per year. And no, that does not include college. Continue reading