Cost Of Raising A Child
Calculator
Results
- Total cost
- $238,271.44
- Average annual cost
- $13,237.30
- Cost in the final year
- $13,694.56
- Years still to fund
- 18 yr
The path over time
- Cost this year
- Cost to date
Year-by-year schedule
| 1 | 0.00 | 16,000.00 | 16,000.00 |
| 2 | 1.00 | 16,400.00 | 32,400.00 |
| 3 | 2.00 | 16,810.00 | 49,210.00 |
| 4 | 3.00 | 17,230.25 | 66,440.25 |
| 5 | 4.00 | 17,661.01 | 84,101.26 |
| 6 | 5.00 | 10,182.67 | 94,283.93 |
| 7 | 6.00 | 10,437.24 | 104,721.17 |
| 8 | 7.00 | 10,698.17 | 115,419.34 |
| 9 | 8.00 | 10,965.63 | 126,384.97 |
| 10 | 9.00 | 11,239.77 | 137,624.74 |
| 11 | 10.00 | 11,520.76 | 149,145.50 |
| 12 | 11.00 | 11,808.78 | 160,954.28 |
| 13 | 12.00 | 12,104.00 | 173,058.28 |
| 14 | 13.00 | 12,406.60 | 185,464.88 |
| 15 | 14.00 | 12,716.76 | 198,181.64 |
| 16 | 15.00 | 13,034.68 | 211,216.32 |
| 17 | 16.00 | 13,360.55 | 224,576.87 |
| 18 | 17.00 | 13,694.56 | 238,271.44 |
Comparison
| Scenario | Total cost | Cost in the final year |
|---|---|---|
| Doing nothing | 197,000.00 | 9,000.00 |
| Your plan | 238,271.44 | 13,694.56 |
Formula
total = Σ (base + childcare_y) × (1 + i)^y, y = 0 … 18 − age= 238271.44
Note
This projection applies the displayed standard formula to the costs and rates you entered and assumes they repeat, unchanged, every single period. Real households do not work that way: prices, incomes, interest rates and family circumstances all move, and a single unplanned event can outweigh years of the schedule below. The model ignores taxes, fees, benefits, grants and anything you did not enter, and costs of this kind vary enormously from one country to another. Treat the figures as an illustration of the arithmetic, not a forecast or financial advice, and consult a licensed adviser before acting on any of them.
More in Life planning
See all →Frequently asked questions
What categories of spending does this estimate include?+
It typically covers housing share, food, childcare or education, clothing, healthcare, and miscellaneous costs from birth through age 18, scaled to the number of years and your inputs — it does not usually include college costs, which are a separate, later expense.
Why do the estimates vary so much by age range?+
Costs shift over childhood: childcare dominates in the early years, then eases once a child is in public school, while food and activity costs climb again in the teenage years — the calculator reflects these changing proportions rather than a flat annual cost.
Does this include the cost of childcare or daycare?+
If you select it as an input, yes — childcare is often the single largest line item in the early years and varies enormously by region and by whether care is full-time, part-time, or provided by family.
Is this figure per child or does it change with multiple children?+
The base estimate is per child, but costs like housing and some shared expenses don't scale linearly with each additional child, so a second or third child typically costs less incrementally than the first.
Should I use this number to plan my savings target?+
It's a useful planning baseline, but treat it as a midpoint estimate — actual costs swing widely with location, lifestyle choices, and whether special needs or private schooling apply, so build in a buffer.