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The average cost of raising a child

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Childcare (WGHP)

Childcare (WGHP)

WASHINGTON, D.C. (USA TODAY) — The U.S. Department of Agriculture says parents will spend an average of $235,000 to raise a child born in 2011 through the age of 17. 

The list of expenses includes housing, food, clothing, healthcare, childcare and schooling along with discretionary spending like family vacations, birthday gifts and extra-curricular activities.

The $235,000 figure is only an average.

For the lowest income groups, raising a child will cost about $212,000.

For higher income earners, the average is $490,000.

The greatest share of expenses is housing, followed by childcare, food and education.

Read more at USA TODAY