According to an inforgraphic compiled by TurboTax, parents can expect to spend between $200,000 to $500,000 on a child by the time they turn 17. That’s right, $500,000 before college costs.
The infographic below breaks down the different expenses involved with raising a child, from the day they’re born up to age 17. According to the TurboTax numbers, the biggest expense is housing, followed by child care and education.
Tell us in the comments below what surprised you most about this inforgraphic. Or, is it about what you expected when reflecting on your own budget?
