Cost of Raising a Child Calculator
Builds on the USDA Expenditures on Children by Families tables (2015 data, the last edition published), restated in today's money and projected forward at your inflation rate. Applies the economies of scale the source measured — an only child costs 27% more, a third child 24% less — and optionally adds four years of college.
Related tools
All Savings & budgeting tools →Open Cost of Raising a Child Calculator and you get an answer straight away, with no account to create. It covers 2015 data, the last edition published — adjust any of them and the result follows immediately.
How to use it
- Open the tool — no signup or install needed.
- Enter your input or adjust the available options.
- Get your result instantly, then copy or download it.
Frequently asked questions
What does Cost of Raising a Child Calculator do?
Builds on the USDA Expenditures on Children by Families tables (2015 data, the last edition published), restated in today's money and projected forward at your inflation rate. Applies the economies of scale the source measured — an only child costs 27% more, a third child 24% less — and optionally adds four years of college.
What does it take into account?
It factors in 2015 data, the last edition published. Change any of them and the output follows immediately.
When would I actually use this?
Planning a deposit, a safety net or a large purchase: how much to put aside each month, and how long a target takes at a given rate.
What is the most common mistake?
Reading a nominal rate as if it were real. Inflation is subtracted from the return, not from the capital, so a 3% account during 4% inflation loses purchasing power every year.
How is Cost of Raising a Child Calculator different from Child Support Calculator (Income Shares Model)?
They sit next to each other but answer different questions: Child Support Calculator (Income Shares Model) is the one to open when you need it to applies the income-shares model — the framework used by most US states — using the published Michigan Child Support Formula 2025 schedule. Shows the combined obligation, each parent's share of it, the parenting-time offset and the child-care, health-premium and extraordinary-medical add-ons, line by line. Pick whichever matches what you're starting from — both are free.
Is there a tool for the next step?
College Cost Calculator is the closest one after this: Projects tuition, housing and food, and books and other costs forward year by year at a cost-inflation rate you set, from the year the student starts through to graduation. Shows the year-by-year table, the first-year and final-year costs and the total, in your currency.
What else is worth having open alongside it?
Cost of Living Calculator and 529 College Savings Calculator — they come up in the same task often enough to be worth a second tab.
Where do the figures come from?
Compound interest is arithmetic, so the maths is exact for the rate you enter. Real accounts vary in compounding frequency, tax treatment and whether interest is credited before or after a deposit.