Becoming a parent is one of the most rewarding experiences anyone can have. While parenting is a special time in any adult’s life, it is also very expensive. The U.S. Department of Agriculture released its findings on what it would cost to raise a child born in 2015 based on a variety of factors that affect middle-class families. The numbers may affect what parents in Springfield are asking or requested of in child support, in order to cover the expenses of child-rearing.
According to the report, for a child born in 2015, it will cost a middle-class family an average of $233,610, from the time of birth to age 18 in expenses. That’s approximately $14,000 per year. For those who sit in a higher income bracket, the number jumps to over $372,000. These numbers were calculated by examining a variety of factors that affect the child like school expenses, food, entertainment and any other financial factors that could affect a child. This number is calculated by the U.S. Department of Agriculture to help families better budget and plan for the long-term expense of child rearing.
For some parents, this number could be mind-boggling. However, if one plans accordingly for the financial undertaking a child is, they can manage their expenses much more adequately. Considering the costs of child-rearing is key to discovering a child support number that meets the needs of the child based on the parents’ income.
Court-ordered child support is meant to ensure that parents share the cost of raising their children, whether they live with them or not. Unlike child custody or other aspects of divorce law, child support obligations can generally not be negotiated away. Parents who have questions about child support in Springfield may want to consult with a family law attorney.
Source: USDA, “Families Projected to Spend an Average of $233,610 Raising a Child Born in 2015,” Accessed Feb. 6, 2017