Monday, October 17, 2016

FINANCE – Cost of Living in 2016 as a Middle-Class Family

This is a not a simple question as it is layered with lots of variances, how many children, who is working, where do you live, do you rent, what type of employment do you have, do you have a mortgage, do you include vacations, childcare, do you have student debt…and the list can literally go on and on for pages and pages.

In 2014 CNN Money stated “To raise a child born in 2013 to the age of 18, it will cost a middle-income couple just over $245,000, according to newly released estimates from the U.S. Department of Agriculture. That’s up to $4,260, or almost 2%, from the year before.”

The reaction of this was captured by Philadelphia CBS, interviewing new parents that had twins “…. “I was just knocking my head against the doctor’s office like, ‘oh no.’ And it’s the worst thing to feel, because it’s like awesome having kids, two kids, but it’s also horrible to think the first thing I can think about is money.”

The 2014 online consensus from various credible resources affirms that it DID cost 245K plus college and other aspects to raising a child in the United States.
-OMS Researcher SC.

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*Retrieved and referenced with the implied consent of “share” as posted on the author's site.

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