What is the cost of raising a child? Children are worth their weight in gold -- that is, when you add up all the costs. Use this calculator to figure out Junior's bottom line. Expense Starting age Ending age Annual amount Child care: $ Groceries: $ Clothing: $ Gift giving: $ Bigger home: $ Bigger car: $ Education: $ Recreation: $ Additional insurance: $ Health care: $ Miscellaneous: $ Total amount needed to raise this child: $ Defaults roughly based on U.S. Department of Agriculture annual report "The Cost of Raising a Child," Release No. 0127.98.