What is the average cost of raising kids age 0 -5?

It’s interesting to really look at the cost of raising kids. A reddit user was messing around in Mint and decided to export all of his transactions from the last 6 years so he could manipulate the data.
He ended up filtering to only the categories that did (or seem like they should) vary depending on the number of children in the household.

He then applied a five-month moving average and came up with this graphic.

We thought this might be useful data for any new, or soon to be new, parents.

Answer

According to the data the child costs roughly $300-500 per month from the ages of 0-5 http://i.imgur.com/6n40mEB.png years old.

*Daycare is not included in these expenses. Obviously, this could be a huge additional cost for others and should be considered.

Cost of Raising Kids
http://i.imgur.com/6n40mEB.png

 

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