How Much Does it Cost to Raise a Child?

My wife and I have raised our 4 children, but I found it very interesting to see just how much we may have spent in raising them.  According to an article in the Telegraph Herald, we have spent over 1 million dollars raising them.  This total doesn't even take into consideration that we sent all 4 to a Catholic School so our schooling costs were actually much higher.

Here are some excerpts from that article.  All credit for this information goes to the Telegraph Herald......

A child born in 2013 will cost a middle-income American family an average of $245,340 until he or she becomes an adult, with families living in the Northeast taking on a greater burden, according to a report out today.

Those costs — food, housing, childcare and education — rose 1.8 percent over the previous year, the Agriculture Department's new "Expenditures on Children and Families" report said. As in the past, families in the urban Northeast will spend more than families in the urban South and rural parts of the U.S., or roughly $282,480.

When adjusting for projected inflation, the report found that a child born last year could cost a middle-income family an average of about $304,480.