The 2013 BabyCentre.com survey found that parents spend an average of $13,000 per year on their kids.
The survey revealed that many moms feel that parents spend too much on their kids and couples are worried about having enough money to start a family.
Children are expensive, but that doesn’t seem to be holding back couples from starting a family. It is revealed that couples are exploring ways of saving that they may not have previously considered, like moving back in with their parents or accepting money from in-laws.
Parents admit to spending nearly $13,000 each year on their children, but where is the money going? Housing accounts for a large percentage of parents’ annual expenditure and childcare is another major expense. The remaining funds are allocated for transportation, food, entertainment, healthcare, and clothing.
No set figure can ever really sum up the myriad decisions parents make regarding the care and feeding of their children.