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At that rate, the 110 or so boys and girls in the local area who are becoming 18 this year denote an overall outlay by their parents of approximately $2,761,000.
Included in this total are all the expenditures that are normally encountered from infancy to the time when junior reaches college age. An additional financial jolt comes at that time, if he goes to college.
The major costs, outside of food, are detailed by the Institute of Life Insurance, based on Labor Department figures.
They start with his birth. The outlay for doctors, hospital charges and equipment could come to $700 or more.
In the succeeding years, under normal conditions, about $2,000 is spent for medical and dental care.
Clothing comes to a little more than $3,000, transportation to $3,950 and personal care, $900. Then there is the cost of the additional housing space and facilities needed for the child.
Incidentals, such as toys, books, movies, allowances, music lessons and the like, make up the irest.
70.0%