I can’t get enough of newborn babies. I know everyone doesn’t love kids, but I’m pretty excited to have kids of my own one day. But how expensive is it to have a child, and how does it compare to how much our parents and grandparents spent?
Childcare and education costs have soared since 1960. A babysitter was roughly $5.70 an hour in 1960 (adjusted for inflation). In 2011, a night out with a sitter costs almost double that.
The cost of childbirth is something else that’s increased a ton in recent years. It only ran you about $1,000 to give birth 50 years ago, but that’s increased tenfold since then.
Surprisingly, housing hasn’t changed much. It still accounts for about 1/3 the cost of raising a child for 18 years. Food costs have actually gone down –– once we adjust for inflation, it’s much cheaper to feed a child today. The same goes for clothing.