Teens are expensive to raise
Who knew that raising a teen could cost more than a million rand?
American middle-income parents with a child born in 2010 can expect to spend $226,920 (more than R1.5 million) over the next 17 years.
The United States Department of Agriculture's annual 'Expenditures on Children by Families
' report, in which the figure was published, is used as a guide in setting child-support and foster-care payments.
The latest figure for raising a child is up 2% from 2009, largely because of higher costs in transportation, child care, education, and healthcare, a USDA statement said.
The report also evaluates other household expenditures and child-rearing expenses
such as housing, food, and clothing.
For lower-income families, those earning less than $57,600 (almost R400,000) a year, parents can expect to spend a total of $163,440 (more than R1 million) through the time the child finishes high school. Families earning over $100,000 (almost R700,000) are more likely to spend around $377,000 (around R2.5 million).
Housing is consistently the largest expense in raising a child, claiming 31% of the total that middle-income families can expect to pay. The next biggest expense is child-care and education, followed by food.
Geographically, the cost to raise a child can differ by as much as $2,500 (almost R17,000) per year, with the most expensive region being the urban Northeast, and the least expensive being the rural South.What do you think it would cost a South African family to raise a teen?