00:00Just like beef and coffee, the cost of raising a kid in America is skyrocketing.
00:05A new report from LendingTree suggests it costs $300,000 to raise a kid over the course of 18 years.
00:11Now, if you're a parent listening to this, you might actually find that number low,
00:14but it's a 30% jump in just the past three years.
00:17I'll link to the full article which breaks down all of the charges,
00:21but it includes close to $30,000 for daycare over a child's first five years.
00:25That's a 47% increase over the last three years.
00:30Other costs that have increased significantly over that time include clothing up about 15%,
00:35food up 29%, and rent up more than 50%.
00:39The experts at LendingTree say they've seen parents making all sorts of changes
00:43in order to keep up with rising costs.
00:45Small ones like cutting back on dining out or big changes
00:48like doing the math on whether it's worth it for one parent to work or stay home for free childcare.
Comments