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The Cost of Raising a Child

The MSN website had an interesting article today on the cost of raising a child through age 17. The article can be read here.

The article includes a chart breaking down expenses by age. One interesting fact is that the cost of raising a toddler is generally about the same as the cost for raising a teenager. In North Carolina, child support is generally calculated using the North Carolina Child Support Guidelines. The guidelines use several factors to determine the amount of child support the non-custodial parent must pay, but age of the child is not taken into account. I frequently hear people say that the amount of child support they’re paying is too high, because the child is very young and it just doesn’t cost that much to care for a young child. If the statistics in the article are accurate, the cost to raise a child doesn’t vary by age as much as people expect.