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Planning a family or
already have one? Then you need to plan for more than just
visits to the pediatrician. Kids are expensive, even before
they go off to college. No matter what stage your family is
at, here are some reasons to plan ahead.
Annual Expenditure per Child /
Percent of Total Expenditures:
Per Houehold, per Child Age, in 2000
|
Lower
Income Households: Income up to $38,000
|
|
Age of
Child
|
Total
($)
|
Housing
|
Food
|
Transport.
|
Clothing
|
Health
care
|
Care and
Education
|
Misc.
|
|
2 &
Under
|
$6,280
|
38.2%
|
14.0%
|
12.3%
|
6.1%
|
7.0%
|
12.7%
|
9.7%
|
|
3 to
5
|
$6,420
|
36.9%
|
15.3%
|
11.7%
|
5.8%
|
6.5%
|
14.0%
|
9.8%
|
|
6 to
8
|
$6,520
|
35.1%
|
19.3%
|
13.3%
|
6.3%
|
7.5%
|
8.1%
|
10.3%
|
|
9 to
11
|
$6,530
|
31.7%
|
23.1%
|
14.5%
|
6.9%
|
8.1%
|
4.9%
|
10.7%
|
|
12 to
14
|
$7,380
|
31.3%
|
21.5%
|
14.5%
|
10.3%
|
7.3%
|
3.1%
|
11.9%
|
|
15 to
17
|
$7,280
|
25.5%
|
23.6%
|
19.8%
|
9.2%
|
7.8%
|
5.2%
|
8.8%
|
|
Middle Income Households:
Income $38,000 to $64,000
|
|
Age of
Child
|
Total
($)
|
Housing
|
Food
|
Transport.
|
Clothing
|
Health
care
|
Care and
Education
|
Misc.
|
|
2 &
Under
|
$8,740
|
37.2%
|
12.1%
|
13.2%
|
5.0%
|
6.6%
|
15.0%
|
10.9%
|
|
3 to
5
|
$8,980
|
35.9%
|
13.6%
|
12.6%
|
4.8%
|
6.2%
|
16.1%
|
10.8%
|
|
6 to
8
|
$8,990
|
34.9%
|
17.2%
|
13.9%
|
5.3%
|
7.0%
|
10.3%
|
11.2%
|
|
9 to
11
|
$8,950
|
32.6%
|
20.4%
|
14.9%
|
5.9%
|
7.7%
|
6.8%
|
11.6%
|
|
12 to
14
|
$9,690
|
32.5%
|
19.0%
|
15.0%
|
9.2%
|
7.1%
|
4.6%
|
12.6%
|
|
15 to
17
|
$9,860
|
27.5%
|
20.8%
|
18.6%
|
8.0%
|
7.4%
|
7.8%
|
9.9%
|
|
Upper
Income Households: Income Over
$64,000
|
|
Age of
Child
|
Total
($)
|
Housing
|
Food
|
Transport.
|
Clothing
|
Health
care
|
Care and
Education
|
Misc.
|
|
2 &
Under
|
$13,000
|
39.7%
|
10.8%
|
12.4%
|
4.5%
|
5.2%
|
15.2%
|
12.3%
|
|
3 to
5
|
$13,280
|
38.6%
|
11.9%
|
12.0%
|
4.3%
|
4.8%
|
16.3%
|
12.1%
|
|
6 to
8
|
$13,160
|
38.4%
|
14.5%
|
13.0%
|
4.7%
|
5.5%
|
11.3%
|
12.5%
|
|
9 to
11
|
$13,020
|
37.1%
|
17.1%
|
13.7%
|
5.2%
|
6.1%
|
7.9%
|
12.9%
|
|
12 to
14
|
$13,870
|
36.6%
|
16.8%
|
13.8%
|
8.1%
|
5.7%
|
5.7%
|
13.4%
|
|
15 to
17
|
$14,260
|
32.4%
|
17.2%
|
16.2%
|
7.2%
|
5.9%
|
9.7%
|
11.4%
|
In Summary
Based on the
information above, some trends are shared by all parents, no
matter what the income level. Over all income levels and
ages, housing consistently makes up the largest portion of
all costs, at nearly one-third of total expenses. Food is
about 15% to 20% of total costs. Transportation is around
14%. Clothing and health care are each in the 5.5% to 7.5%
range. All income groups saw double digit increases in the
cost of food until ages 12-14. As expected, care and
education costs are concentrated in the 3-5 age group and
the 15-17 age group, the start of preschool and the start of
college prep.
Order
Your Calculator Now!
Information based on
data from the U.S. Census Bureau. Annual Expenditure Per Child by Husband-Wife
Families by Family Income and Expenditure Type: 2000, Table
685. Statistical
Abstract of the United States, 2001
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Disclaimer -
Not Providing Accounting or Financial Services -
Proactive
Management, Inc. presents the material on this calculator as
general information only. It is not offered as, and does not
constitute, accounting advice or opinion, or financial
advice or opinion. It should not serve as a substitute for
advice from an accountant or financial advisor familiar with
the facts of your specific situation. We are not an
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accounting, financial, or tax services or advice. We make no
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