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Raising Kids Costs More Than You Think | Washington DC News
Raising a kid to 18 costs a fortune—over $300K on average, but it varies wildly by state. Hawaii tops the list, while New Hampshire stays budget-friendly. In 22 states, parents spend at least 20% of their income just on one child. Maryland’s the priciest among big states at over $326K, Virginia’s around $266K, and DC surprisingly cheaper at just over $200K. Maryland parents even spend more than 22% of their income—ouch. But there’s hope: start saving early, tap into employer benefits like dependent care accounts and tax credits, shop smart, and avoid high-interest debt. The numbers are steep…
The skinny
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