The cost of raising a child is almost $240,000 — and that's before college
CBSN
Millions of Americans struggle to put money away, leaving them empty-handed as they approach one of life's key financial milestones.
No, not retirement — having a child, which new research shows is getting more expensive by the year. Raising a child from birth to age 18 now costs an average of $237,482, according to LendingTree. And as with other major household spending categories, like health care and college, the tab for bring up kids is surging, with the financial firm finding that the average annual cost of child-rearing stood at $21,681 in 2021 — up almost 20% from 2016.
Those dollar figures encompass only what LendingTree describes as the "bare bones" required for raising a child, including money for food, housing, child care, apparel, transportation and health insurance, as well as the impact of tax benefits such as the Child Tax Credit. They don't include enrichment activities such as sports, after-school classes and the like, let alone the soaring cost of attending college.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
On this "Face the Nation with Margaret Brennan" broadcast, moderated by Margaret Brennan:
Just about four years ago, at the height of COVID, we lost photographer and activist Corky Lee. His work is the subject of a recent book, "Corky Lee's Asian America: Fifty Years of Photographic Justice."
Beyoncé is taking "Cowboy Carter" on tour. The star confirmed her concert plans early Sunday morning in a pair of rousing social media posts that drew millions of reactions but left most details to the imagination.
Some of music's biggest stars are set to take the stage at the 67th Annual Grammy Awards.
Bill Gates may not strike you as an actor, certainly not a comedic one. But he can be a funny guy, as evidenced by his 2018 cameo on "The Big Bang Theory." Even when he was arrested at the age of 21, his mugshot smile makes you think there was a lot more going on in that head than computer calculations. What was the offense? "It was driving from Albuquerque up to Seattle that I got three very serious speeding tickets," he said.
The stage is set for the biggest night in music. The 67th Grammy Awards returns tonight to celebrate the best of the best in music.
PUNXSUTAWNEY, Pa. (KDKA) — Punxsutawney Phil is predicting six more weeks of winter after seeing his shadow at Gobbler's Knob Sunday morning.
It was Sunday April 25, 2021, a spring morning in the farmland of Lenawee County, Michigan. Rikkell Bock drove the short distance from her house to her childhood home for her weekly breakfast with her mother, Dee Warner.
This story originally aired on April 20, 2024.
A decision by the acting leadership at the U.S. Justice Department to delete its public webpages and case summaries of the Jan. 6 siege at the Capitol prosecution has triggered a legal challenge from a watchdog group and blowback from a federal judge who oversaw some of the cases.
CHICAGO (CBS) -- One of the FBI's 10 most wanted fugitives, a man accused of stabbing his wife to death just hours after their wedding in Chicago in 2012, has been captured in Mexico.
The Trump administration on Saturday imposed 25% tariffs on imports from Canada and Mexico, while adding an additional 10% levy on goods from China. The salvo, which President Trump had threatened even before returning to power earlier this month, underlines his willingness to use trade policy even against some of the U.S.' largest economic allies.
The U.S. military conducted coordinated airstrikes against ISIS operatives in Somalia, the first attacks in the African nation during President Trump's second term.
President Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden Administrator holdover.
Beginning Feb. 1, schools, museums and communities across the nation will mark the start of Black History Month — a celebration of Black history, culture and education.
Urban dwellers in Washington D.C., San Francisco, Toronto, New York City, and Amsterdam might have seen rats scurrying across their cities — and they're not imagining an influx.
Dee Warner disappeared on a Sunday morning in the spring, just as the first crops were being planted in the farmland of Lenawee County, Michigan. Warner, 52, was living on a farm with her second husband, Dale Warner, and their one child together, then 9. The Warners ran three main businesses from their farm, and Dee Warner had four adult children from her first marriage — all living on their own.
Less than 10% of the nation's airport terminal towers have enough air traffic controllers to meet a set of standards set by a working group that included the Federal Aviation Administration and the controllers' union, according to a CBS News analysis of FAA data.