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Show Raising Family Costs Increase Parents in Davis County are finding that the cost of bringing bring-ing up a child has risen considerably con-siderably in recent years. FOR THE average family, rearing a child from birth to age 18 now takes nearly three times the amount it earns during a whole year, according accord-ing to the latest government studies. By way of comparison, 30 years ago a typical family needed no more than $7,425 to provide for a child to age 18, according to figures compiled at that time. Today, it would not come close to covering food costs alone. JUST how much a family spends in the process of bringing up junior depends, for the most part, on its financial ability and its geographic location. In general, it ranges from 2.9 to 3.6 times its annual net income. in-come. For families in Davis County, where an after-tax income of $15,000 to $16,000 was the average in the past year, the cost is estimated at about $46,500 per child. THE findings are based upon data compiled by the Department of Agriculture, the Bureau of Labor Statistics, Statis-tics, the Institute of Life Insurance In-surance and others. The bills connected with the birth of the child, which is the initial cost of parenthood, have gone up 40 percent in the last five years, reports the Life Insurance Institute. ON AVERAGE, including hospital and medical expenses, ex-penses, the layette, furniture and the like, they now come to approximately $2,190. Some of this cost is usually covered , by insurance. As time goes on, food 1 becomes a major item. A family of moderate income will spend about $13,500 to feed the child for the 18 years. CLOTHING is also an important im-portant expense, especially in the teen years. Over the whole period it comes to about $4,480. Medical care adds another $2,260. Other basic costs include recreation, transportation, housing, education and personal per-sonal care. THE 2,800 or so boys and girls in Davis County who reach 18 each year represent a total outlay on the part of their parents of approximately approxima-tely $130,200,000. And that is 1 only to the point at which they 1 are ready for college. |