The Cost of Kids

My brother, Ronnie, has been graciously hosting our two kids for a week this summer. He and the girls seem to be having a good time, based on the iPhone pictures I keep getting in my mail box. But poor little brother, who has no kids of his own, was a little overwhelmed by how much everything costs when you add in a few kids.

My girls will be coming home tonight and I will be glad to see them. But I noticed that I did not have to go to the grocery store for the whole time they were gone...

On that topic, just saw an article on MSNBC giving average costs for raising kids:

Families who make: Will spend:
More than $74,900 $289,380

$44,500 to $74,900 $197,700

Less than $44,500 $143,790

Where does all that money go? According to Bankrate.com, the breakdown at the middle-tier level looks something like this:
Groceries — $1525 year
Clothing — $606 year
Bigger home — $2900 year
Bigger car — $1250 year
Health care — $300 year
Education — $600 year
Child care — $4300 year (through age 11)
Recreation — $300 year
Additional insurance — $300 year
Gift giving — $330 year
Miscellaneous — $330 year
And no, that doesn't include in-vitro fertilization, which can run $10,000 per cycle and often isn't reimbursed by insurance, or adoption, which can be much more. Nor does it include college, which is currently running about $50,000 for four years at a public university and $125,000 for four years at a private college.

So thanks for taking the kids to the zoo, Ronnie. But do you want to pitch in for the college fund?