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What It Costs To
Rear a Child
In Rappahannock County, under present conditions, how much does it cost to raise a child from birth to age 18?
Most parents have no mea of the overall amount. Beyond recalling that at certain stages along the line the costs were unusually large, sometimes staggeringly so, they have never thought about their total expenditure.
A new analysis of such costs provides some answers. It was made by the Institute of Life Insurance, using data obtained from the Bureau of Labor Statistics, the Department of Agriculture and others.
The finding is that the amount spent by parents in rearing a child varies from family to family but, in general, is closely related to income.
In some families, the outlay in the 18 years is equivalent to as much as 3.6 years of earnings, after taxes. In others, as little as 2.9 years of earnings are so-spent. The average is slightly more than three years.
94.3%