Ouch! Cost of Raising a Child to Age 18 Hits $245,340

The cost to raise a child born in 2013 to age 18 has risen to $245,340, according to the U.S. Department of Agriculture’s annual report released this week.

The department’s Expenditures on Children and Families, commonly known as “the cost of raising a child,” shows an overall 1.8 percent increase over last year, and informs new parents that they can expect to spend about $245,340 (or…

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