Inflation’s Toll: My Kingdom For A Child?

Bunky, can you spare a dime? Brookings Institute says it now costs $18K per year or $300K to raise ONE kid until HS graduation, THEN, how much is it going to cost to get them through college? You don’t want to know…

But, you should know the average cost of raising a child has hit a four-decade high, the same as today’s inflation. As reported by the WSJ, Brookings looked at typical middle-income families with children using government cost baselines. The estimate includes a range of expenses like housing, food, clothing, healthcare, baby-sitting, grooming & activities. The multi-year total is up $26,001 based on the inflation rate starting two years ago before rapid price increases hit the economy in 2022.

“A lot of people are going to think twice before they have either a first child or a subsequent child because everything is costing more,” said a Brookings fellow, Isabel Sawhill. I dunno. If you love children, NOTHING is going to get in the way of that dream. I had FOUR as hoped. And, yes, it cost a fortune to raise them. But, I would’ve paid a king’s ransom to do so again. Good news: Inflation is bound to come down sooner or later and along with it these abhorrent numbers.

Davd Soul