September 9th, 2014

Raising a Child Now Costs $245,000

Raising a Child Now Costs $245,000

It’s no surprise that raising a kid is expensive, but just how expensive is it? According to the U.S. Department of Agriculture, raising a child born in 2013 until they turn 18 will cost about $245,000 on average. The good news is that this is only a 1.8 percent increase from 2012, which makes it the smallest increase since 2009.

The estimate includes housing, food, transportation, clothing, health care, education, child care and miscellaneous costs. Location and income are key influencers. Parents who make more tend to spend more on their children. Families in the urban Northeast average $282,480 a year, almost $100,000 more than what families in rural areas spend.

However, one very expensive thing is missing – the cost of college. U.S. News reported last year that the average in-state tuition at a public college is a little less than $9,000, while average tuition for a private college is about $30,000. If you or your child decides to take out a student loan, it could set you back $27,000 on average.

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October 8th, 2012

Financial Lessons I Learned from My Parents

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When I first signed up for Credit Karma, I must admit that I was extremely nervous to finish registration and find out my credit score. I knew it wouldn’t be terrible- I had always paid off my credit card in a timely manner, but I didn’t think that would translate to an awesome credit score.

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March 6th, 2012

3 Ways to Teach Your Kids Good Spending Habits

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What would happen if you spent over half of your income on your “wants”? You might be living a lot like a 9-year-old. Money Management International conducted a Kids and Money survey in 2010 to discover how kids use their cash at different ages.

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February 16th, 2012

How to Protect Your Child’s Identity at Every Age

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our little bundle of joy could start life off deeply in debt and you might not even know it. Some lenders require a social security number with a clean credit history but don’t necessarily check that the borrower’s name matches the number, so thieves can get away with using social security numbers that aren’t assigned to anyone at all.

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February 7th, 2012

9 Money Lessons Financial Experts Teach Their Kids

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We know the importance of setting them up with savings accounts, introducing them to the idea of charitable giving and teaching them good and bad ways to use credit cards.

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October 18th, 2011

Bad Economy? Fewer Babies

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If you were worried about the economy, would you put off having a child? That’s exactly what American women have been doing lately, as the birthrate has been dropping like a stone since the economy went bust in 2008.

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August 17th, 2011

Wednesday Roundup: 4 Frugal Ways to Get Your Kids to Love School

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With 3 young kids heading back to school next week, I have classrooms and playgrounds on my mind. A good chunk of kids, including one of mine, dreads the first day of school and heading back for another year of early mornings and homework. But there definitely are frugal ways to make your kids like school (maybe even love school). Frugal Dad

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August 16th, 2011

Review: JA Finance Park Teaches Budgeting to Teens

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Imagine this: You’re back-to-school shopping with your teen, when he sees the perfect backpack to haul all of his school supplies. It has tons of storage and clever compartments. It has enough room for his laptop. It’s in his favorite color. The problem? It’s way out of your price range.

You try to explain that you have a budget, but your teen still wants the backpack. What do you do?

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August 16th, 2011

Facebook Question: “What did your parents teach you about money?”


We all learned money lessons from our parents, some good, some bad. We asked our Facebook community to share their best and worst money lessons from their parents, and they jumped at the chance! Here are some of our favorite responses.

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August 15th, 2011

5 Best Smartphone Apps for Parents

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Remember when loved ones teased, “Kids don’t come with instruction manuals! Ha!”

Well your smartphone, loaded with the right apps, can be your high-tech helper to make the hardest job in the world—raising your awesome kids—a little easier.

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