DID YOU KNOW . . .
Family spending on a child born in 2009 would total $286,050 by age 17. A two-child family would cost about $600,000.
*Source: Newsweek August 16, 2010
What I don’t know is what makes up that number. Is it only specific expense outlays for the child or does it include a pro rata share of the family vacations, cost of housing, the family car(s) or what? The average annual cost then is $16,853 for a child and $35,294 for two children.
Hard to image any average middle class family having that much money, I would just like to have a breakdown of how those numbers were compiled.
You know the old expression by Mark Twain, “there are lies, damned lies and then there are statistics.
One more U.S. statistic for you to ponder. In 2005, the median personal income for the population age 25 or older was $39,336. (Median means the one in the middle so half of the workers earn less and half of the workers earn more.)
For more information, feel free to contact me at drbetherickson@aol.com or 888-546-1580.
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