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According to an analysis published online by Canada MSN Money in September 2012, the average cost of raising a child from cradle to their 18th birthday is $325,360.
| Average Yearly Cost | Cost to Age 18 | |
|---|---|---|
| Food | $1,505 | $27,100 |
| Shelter and furnishings | $3,500 | $63,000 |
| Schooling | $3,795 | $68,300 |
| Clothing | $1,000 | $18,000 |
| Healthcare | $400 | $7,200 |
| Personal care | $320 | $5,760 |
| Transportation | $2,500 | $45,000 |
| Extra-curricular activities | $800 | $14,400 |
| $4,255 |
$76,600 |
|
| TOTAL | $18,076 | $325,360 |
Note that these calculations are based on the assumption that this is a first child for a two-income couple. For more details, see this page on MSN Money