Inflation in America: Raising children in America has become more expensive, the cost of raising a child for 17 years is 6.40 crores

 Raising children in America has become expensive. According to an estimate by the Brookings Institution, the cost of raising a child has risen to around $8 million, or Rs 6.40 crore. If the money spent during college education is deducted from this, then the cost of raising a child is $3.10 lakhs i.e. Rs 2.48 crores.

This cost has increased by about 64 lakhs compared to the year 2017. This cost is only if the child is brought up only till the age of 17 years. This assessment is only for middle-income families and both parents are earning. In America, college education is usually for 4 years. For this, a family will get 5 lakh dollars i.e. 4 crores. have to spend.

cost of raising a child without education

• If a child is not made to go to college, then it takes 4 crores less to raise him.
• According to the 2021 US Census report, the median household income in 2020 is $67,521 i.e. Rs 53.92 lakh. 2 lakh from the average income of 2019 which was Rs. was less.
• The poverty rate in 2020 was 11.4%, an increase of 1% over 2019.

American Mothers Wanting to Have Fewer Children
The Maternity Survey found that millennials (ages 26 to 41) and Gen-Zs (ages 10 to 25) do not plan to have any more children. In 2022 30% of mothers said they wanted more children. In 2020, 43% had expressed their desire to have more children. Due to rising inflation, people do not want more children.