<P> According to Globalissues.org, "Almost half the world--over three billion people--live on less than $2.50 a day ." This statistic includes children . Based on UNICEF statistics, in developing countries the cost is roughly US $900 for raising a child for a year, and US $16,200 for raising a child from birth to age 17 . (This calculation is difficult, since families in developing countries often do not operate with currency, but barter or trade to provide for their children .) Half of all children in the world live in poverty . </P> <P> The annual LV = (Liverpool Victoria) Cost of a Child report calculates the cost of raising a child from birth to 21 years old . The latest report puts the cost as £ 231,843 . The Cost of a child calculations, from birth to 21 years, were compiled by the Centre of Economic and Business Research (CEBR) for LV = in December 2015 and are based on the cost for the 21 - year period to December 2015 . Additional research was conducted by Opinium Research LLP from 22 to 27 January 2016 . The total sample size was 1,000 UK adults with children under the age of 18 and was conducted online . Results have been weighted to nationally representative criteria </P> <P> The tax exemption per child is $3,900 in 2013 which is based on the basic cost of raising a child . Plus there is a tax credit up to $1000 for each child. citation needed </P> <P> Based on a survey by the U.S. Department of Agriculture, the table below shows the estimated Average Spending on Children by Families . The data comes from the Consumer Expenditure Survey by the U.S. Department of Labor, conducted from 2005 - 06 . The figures have been updated to 2011 dollars using the Consumer Price Index . However, some dispute the numbers as being biased high for political reasons (e.g., Texas A&M University Finance Professor H. Swint Friday: "The numbers, reported by the U.S. Department of Agriculture, are outrageously misleading . Often government statistics are produced for political objectives that cause the research methodology to be biased toward finding the highest dollar amount to support the objective ."). </P>

How much does it cost to raise a child in the united states