In an article by the Wall Street Journal, they looked at the Brooking Institute analysis showing that with inflationary costs, a middle-class family will spend approximately $18,000 a year on housing, haircuts, sports, food, clothing, childcare, and other costs.
“It determined that a married, middle-income couple with two children would spend $310,605—or an average of $18,271 a year—to raise their younger child born in 2015 through age 17. The calculation uses an earlier government estimate as a baseline, with adjustments for inflation trends.”
This is a 9% increase from just two years.
As inflation continues to swallow up family budgets, it is getting expensive to raise a family. Many have to work two jobs, and sometimes, that doesn’t seem like it’s enough.