What is the average annual cost of raising a child?

According to the US Department ofAgriculture,the cost of raising a child until the age of 18 is approximately $284,570 per child (adjusted for inflation)for a two-parent, middle income family (earning between $60,000 and $100,000) living in the Midwest.This figure includes food, shelter, and other necessities but does not factor in the cost of a college education.

Given these factors, what is the average cost of raising a child for a year? (Round up to the nearest dollar. Enter number without dollar sign or comma. For instance, if your answer is $240,962, enter 240962.)

Next, convert the annual cost to a monthly cost. That is, divide the annual cost by 12 (representing 12 months). What is the monthly cost of raising a child. (Round up to the nearest dollar. Enter number without dollar sign or comma. For instance, if your answer is $240,962.17 enter 240963.)

How would the cost of raising a child affect a family's monthly budget? How will information on the cost of raising a child help you and others plan for the future?(Keep in mind that the costs from above do not include paying for the child's college education)