The cost of raising a child.

The cost of raising a child from birth all the way to 18 for a middle class income, two percent family averaged $226,920 last year not including college,

Robert Whitehead / Foter

that’s according to the U.S. Department. That’s up nearly 40% or more than $60,000 from ten years ago. Just one year of spending on a child can cost up to $13,830 in 2010, compared to $9,860 a decade ago. Our cost for our kids alone from daycare to doctor visits, a middle income family well spend an average of $226,920 to raise a child to 18 from clothing, health care, miscellaneous, food, childcare and education then you have the harsh economy that has taken a toll, of course. Many employers scaled back or even did away with medical coverage in recent years, leaving many family’s to cover that bill, at the same time, cost of doctor visits and medications and other health services also climbed. As a result, health care cost for families with children has rose 58% over the decade. The government’s most recent annual report reveals a middle income family with a child born in2010 can expect to spend roughly $227,000 for food, shelter and other expenses necessary to raise that child $287,000 when you factor in projected inflation. For most prospective parents, kids are the central priority around which all other lifestyle decisions get made career moves, housing choices, where to live. Because of its financial impact, however, it’s wise to begin planning for parenthood as early as possible. You won’t necessarily have control over the process, but you should also discuss how many children you’d like to have and when you’d like to have them, as that affects the time line for getting your financial house in order. Ideally, you should pay off your credit card and put retirement savings on autopilot before you welcome a baby.