Cost of Raising Children Calculator
The Cost of Raising Children Calculator helps you estimate the cost of raising your children from their current age to age eighteen. This calculator uses data from the report, “Expenditures on Children by Families, 2006” (miscellaneous publication number 1528-2006) published by the Center for Nutrition Policy and Promotion of the United States Department of Agriculture (USDA). Using the footnotes provided in the report, costs are adjusted based on whether the family is a single- or two-parent family, based on income level and based on number of children.*
- Use the radio buttons, drop downs and table cells to enter data. The results of your calculations show in the box near the middle of the calculator.
- Household Description
- Click the radio button that best describes your household.
- Household Income
- Click on the drop down to see a list of income range options. Select the range of your gross (pre-tax) total household income.
- Ages of Children
- Enter the age of a child in any input box. Ages can be entered in any order.
- Based on the information you’ve provided and the data provided by the USDA, this is an estimate of the total cost of raising all your children to the age of 18.
- Pie Graph
- This pie chart shows you a breakdown of the total cost of raising your children to age 18. The breakdown is by major cost category. Mouse over a pie section for an interactive readout.
- Bar Graph
- This stacked bar graph shows you year-by-year what your estimated costs for raising your children will ber. Each bar segment shows a category's cost.You can see how costs change as your children get older. Mouse over a section for an interactive readout.
*Calculators provided are estimation tools and do not necessarily reflect products, terms or rates that Home Federal Bank may offer. Please contact your Home Federal banker to verify results.