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How Much Do Teenagers Cost To Raise?

Have you ever wondered just how much it costs to raise your teenager? We all know that teens are expensive, but just how much will you end up spending on them? We decided to try to get the answers by breaking down the costs into categories: 1) Schooling- Did you know that if you send your teen to a private school it will cost you an average of some $27,200 over four years? The average cost of schooling for your teen is $3,744. 2) Cars- Did you know that teenager auto insurance costs an average of $6,900 over three years? Combining that with the average price of a car for your teen, you will spend $27,470 on average. 3) Medical Care- Did you know that teen health insurance will cost you an average of $11,000 over four years? Adding this to other medical costs, you will spend an average of $13,500 on your teen’s health. 4) Food and Clothing- Did you know that you will spend an average of $7,400 on teen clothing? You will spend another $21,900 of feeding your teen, on average. The total for these is some $29,300 on average. 5) Presents- Did you know that teens love presents? Of course you did! This will set you back some $7,150 on average. 6) Lost Income- Many moms no longer work so that they can care for their teenager. Factoring in probabilities, this will set you back $26,400 on average. Adding all of these averages together, your teenager is going to cost you an average of $107,564! Now you know