Report: What it costs to raise a child

A new report from the U.S. Department of Agriculture states parents planning on raising a child should expect to spend an extra $14,000 dollars or more a year.

The cost of raising a child includes everything from the price of food, housing, transportation, health care, miscellaneous goods and services, and what the government calls “child-specific expenditures.” Those include clothing, childcare and education.

The report also estimates a cost of $233,610 to raise a child from birth all the way through age 17. This doesn’t include the costs of a college education.