By Stewart McClure, Regional President
Congratulations! Your child has been accepted to the college of his or her choice. Now you can breathe a sigh of relief and focus on the next task: buying all of the items your son or daughter will need for the college dorm room. And while you’re getting ready to face the major expense of a college education, you might be surprised at how much you could spend on that room.
According to the National Retail Federation, parents spend an average of $907 on everything from mini-fridges to wall decals.1
But you could also spe ...
By: Jeffrey Buonforte, CERTIFIED FINANCIAL PLANNERTM
$234,900. According to a recent report by the U.S. Department of Agriculture (USDA)1
, the typical two-parent, middle-income family with a child born in 2011 can expect to spend $234,900 to raise a child to age 17. Factoring in projected inflation that number would actually be $295,560.
While this number may seem overwhelming, you can prepare yourself for what is ahead. The joys of growing your family far outweigh the financial implications, but it’s still something you need to plan for.
First, understand what budgetary components the $234,900 ...