Parenting Pointers - Perceived Vs. Actual Cost of Raising a Baby

 It’s no secret that the high childcare costs in America are a growing concern. But do Americans really know the price tag that comes with raising a child?

The team at CardRates recently conducted a study to uncover the financial realities, American Child Care Costs: Perception vs. Reality. Using survey responses from over 2,100 U.S. adults, CardRates asked them to estimate the costs of five essential baby expenses: daycare, diapers, formula, food, and new clothing.

Here’s a look at the perceived vs. actual cost:

If you’re doing the math, the average American thinks it only costs $19,034 to raise an infant for a year. In reality, that’s about $3,000 short. The actual cost is around $22,111.

You can view the full report here, as well as the perceived vs. actual daycare costs in each state.