The monthly cost of raising a child in South Africa depends on the lifestyle, household income, money management and attitude of the parent. However, research indicates that raising a child in South Africa costs around R90 000 a year.
How much does it cost to raise a child in South Africa 2020?
On a serious note, several research indicates that it costs around R90 000 a year to raise a child. On a straight-line projection (no inflation or growth) that’s over R2 070 000 by the time the child reaches 23 years old.
What is the cost of raising a child in Africa?
Stats & Facts on the Average Cost of Raising a Child
The cost of raising a kid until they are 21 is about $115,573 in South Africa. Median income US families spend roughly $284,570 for a child’s upbringing to age 18.
How much does it cost to raise a child in 2019?
On average, middle-income parents will spend $284,570 by the time a child turns 18. The largest expense is housing, followed by food. The cost of childcare varies widely and depends on where you live. The good news is that each additional child costs less, thanks to economies of scale.
How much does it cost to raise a child in 2021?
That report hasn’t been undated since 2017, but at that time, it found the cost of raising a child born in 2015 was $233,610. That assumes the child was born to a middle-income, married couple. When adjusted for inflation, the number jumps to $267,233 in 2021 dollars, based on data from the Bureau of Labor Statistics.
How much does a child cost monthly?
For a rough estimate of how much it costs to raise a child to adulthood, we have a new study from BMO Harris. The bank found that each child cost (on average) $795 per month, although some surveyed said that the number was closer to more than $2,000 a month.
How much does a child cost per month in South Africa?
Sometimes it is difficult to relate to enormous numbers like these so, to putting it in context, your child is likely to cost you R256 a day or R7 785 a month.
How much does it cost to raise a child from 0 to 18?
The experience of parenthood can hardly be captured in dollars and cents. But the fact is, kids are expensive. In its Expenditures on Children by Families report, the USDA puts the cost of raising a child from birth to age 18 at $233,610 for a middle-income family (married with two kids) — around $12,980 per year.
How much should I save for a baby in South Africa?
In South Africa, the cost of having and raising one child can easily reach R1 681 470 for the average middle-income family. That’s more than R90 000 a year!
How much does it cost to raise a child 2020?
The cost of raising a child until age 17 is $233,610 on average. Low-income married couples spend $174,690 on average to raise a child. Low-income single parents spend $172,200 to raise a child from birth until age 17. The average amount spent on raising a child in the Urban West is $245,460.
What is the cost of raising a child?
In the US, the average cost of raising a child through the age of 17 is $233,610. This figure is based on data compiled in the most recent Expenditures on Children by Families report completed by the United States Department of Agriculture (USDA).
What is the cost of adopting a child?
According to Child Welfare Information Gateway, working with a private agency to adopt a healthy newborn or baby or to adopt from another country can cost $5,000 to $40,000. Some agencies have a sliding scale based on the prospective adoptive parent’s income.
What is a comfortable salary for a family of 4?
So 100k, in fact, is a good salary for a single person, but how does that measure up for a family of four? My family of three is currently living comfortably on a six-figure household income.
Housing Costs for a Family of 4 Making 100k per year.