Estimated expenditures for children vary by household income level, age of the child and region of the country. The size of the house and the desire by parents to provide a safe neighborhood with good schools influence this category. As children get older, so do their appetites. It makes up 14 to 15 percent of child-rearing expenses across income levels. Clothing accounts for 6 to 8 percent of expenses on a child for families.
Daughters cost more than sons.
This cost varies according to the health of the child and whether the parents have good or any health insurance. Food, transportation, clothing and health care expenses generally increase as the age of the child increases. Child care and education expenses are highest for a child less than age 6. Because the study goes up to age 18, it does not include the cost of college and it does not include the cost of public education. This is a program designed to help Coloradans develop financial management skills.