Having a child is getting more and more expensive each year in the U.S. The cost of raising one kid into adulthood now totals hundreds of thousands of dollars, according to recent estimates from online lending marketplace LendingTree and other finance groups.
“No one should be surprised that costs have risen in recent years, but the type of growth we’ve seen in child care costs is on a whole other level,” Matt Schulz, LendingTree chief consumer finance analyst, said in a statement. “There are plenty of reasons for the growth, including inflation, growing labor costs and rising demand. However, whatever the reason, this growth is making an already challenging aspect of parenthood that much worse.”
