How Much Will a Child Cost to Raise? You will probably be shocked! You can adjust the ages for children you already have, or leave as is if you are planning a baby. Expense Starting age Ending age Annual amount Child care: $ Groceries: $ Clothing: $ Gift giving: $ Bigger home: $ Bigger car: $ Education: $ Recreation sports, hobbies, entertainment, etc. $ Additional insurance: $ Health care: $ Miscellaneous $ Total amount needed to raise this child: $ Based upon the US government guidelines for yearly costs associates with raising a child.