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US Cost of Raising Children Nears $250K

New parents in the United States will have to have to tighten their budgets, according to data released Monday, which shows the cost of raising a child is inching toward a quarter-million dollars. Research by the U.S. Department of Agriculture shows middle-income parents will spend slightly more that $245,000 on a baby born in 2013 until the child turns 18, the age of legal adulthood in the U.S. The largest expense for new parents is housing, which accounts for almost one-third of the...

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