10 smart ways to save on raising your kids

10 smart ways to save on raising your kids
10 smart ways to save on raising your kids

There's a new price tag on parenthood and it ain't cheap -- but of course, that comes as no surprise to America's moms and dads. According to the U.S. Department of Agriculture (USDA), the cost of raising a child has skyrocketed 22% since 1960, and now rings up at a whopping $11,650 to $13,530 per year for middle income parents (earning $56,670 to $98,120) and between $19,380 and $23,180 for families taking home more than $98,120 annually.

But wait, there's more: New parents have something else to keep them up at night. Children born in 2009 carry an even higher price tag and are estimated to cost a middle class family $286,050 by the time the tot is old enough to vote. Families in a higher tax bracket will pay closer to $475,680.

Now, for the bad news. The USDA did not include the cost of a college education, life insurance for hard working parents, and other child-related expenses like snacks for an entire soccer team, Nintendo DS, American Girl dolls and replacing appliances because someone thought it would be cool to see what would happen if you stuck an action figure in there...