6at4 Business Report: What's the cost to raise a kid?

June 14, 2012 2:52:02 PM PDT
So... how much do you think it will cost to raise a kid?

Mortgages Rate Up
Mortgage rates up for the first time in eight weeks! The average rate for a 30-year fixed mortgage increased to 3.7%. Lower borrowing costs have been fueling refinancing and helping homeowners to reduce monthly mortgage payments.

Airline Arrival Times Improving
Airlines are getting better at delivering passengers on-time. According to the Department of Transportation the nation's airline had an 84.5% on-time arrival rate for the first four months of the year. Carriers also mishandled fewer bags. Airlines have been on a winning streak, topping their on-time arrival rates each month. Experts attribute the better numbers to mild weather and carriers cutting back on flights.

$234,000 to Raise a Child
Meantime, the cost of raising of child is on up. It's up 3.5% for kids born last year compared with those born in 2010. A middle-income family may spend more than $234,000 to raise a child born last year. not including college, and not accounting for the inflation that may kick in between now and when they children turn 18.