Raising Kids Costs More Than You Think | Washington DC News

Raising a kid to 18 costs a fortune—over $300K on average, but it varies wildly by state. Hawaii tops the list, while New Hampshire stays budget-friendly. In 22 states, parents spend at least 20% of their income just on one child. Maryland’s the priciest among big states at over $326K, Virginia’s around $266K, and DC surprisingly cheaper at just over $200K. Maryland parents even spend more than 22% of their income—ouch. But there’s hope: start saving early, tap into employer benefits like dependent care accounts and tax credits, shop smart, and avoid high-interest debt. The numbers are steep, but knowledge and strategy can ease the load. Thank you to our sponsor Garrett Waller Performance: http://coaching.garrettwaller.com Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9d16e362d596d359