#15 Bellwork What career/ job do you hope to have in the future? 2/10/2016 Write the LEQ: What is the financial impact of raising children? What career/ job do you hope to have in the future? Go to www.bls.gov/ooh/a-z-index.htm Search the career/ job of your choice. Write down the Median pay for 2014 for that career/ job.

How much does it cost to raise a child in the U.S.?

Cost of Raising a Child Report What is it? It’s an annual report from the USDA (United State Department of Agriculture) It projects the expected amount of money that will be spent over 18 years to care for a child born that year. It calculates money used for Food Housing childcare/ education other child-rearing expenses

Cost of Raising a Child Report (for children born in 2013) What did the last report show? A middle-income family can expect to spend about $245,340 per child without inflation $304,480 per child with projected inflation Does not include expenses used after a child turns 18.

Cost of Raising a Child Report (for children born in 2013) How much would be spent on each child, in 2013? Two-parent middle-income family =$12,800-$14,970 per child depending on the child’s age

Cost of Raising a Child Report (for children born in 2013) What affects the cost of raising a child? Family income A family earning less than $61,530/year can expect to spend a total of $176,550 per child from birth up to age 18. A middle-income family earning between $61,530-$106,540 can expect to spend a total of $245,340 per child from birth up to age 18. A family earning more than $106,540 can expect to spend $407,820 per child from birth up to age 18. What does this mean for people planning on raising children in the future?

Cost of Raising a Child Report (for children born in 2013) What are the three top child rearing expenses for middle-income families? Housing (30%) Child care and education (18%) Food (16%)

Reflection: Directions: Answer the following questions. 1.