I dropped my 2nd son off at college yesterday. Sniff, sniff!
Just the other day I read some facts about the cost of child rearing (from the magazine called Stages) and wanted to share my thoughts.
Housing is the biggest expense incurred in child rearing (33% to 37% of your total bill). I am now paying for his college housing along and his empty space at home.
The USDA estimates total child-rearing expenses (to age 18) at $184,320 for families making $41,700 to $70,200 a year, and $134,370 for families making less than $41,700 a year. We are passed the 18 years old stage and still paying.
Food accounts for 15% to 20% for total child rearing expenses. I don’t think they know my son. His appetite is endless. Thank god for all-you-can-eat meal plans at institutions of higher learning.
According to the College Board, the bill for college (tuition plus room and board) for the 2004-2005 tuition year averaged $10,659 at a four-year public college and $23, 876 at a four-year private college. That was a few years ago and I can tell you, it’s increased.
Child rearing is expensive.
The experience of raising and loving your children is priceless.
It’s so quiet in my house!