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When kids ask the "Are we rich?" question, experts suggest shifting the discussion to explain how the value of education, different career paths, hard work, and just plain luck all play a role in determining financial success, writes Steve Rosen. (Dreamstime/TNS)

Children cost a lot of money – level 1

It costs a lot of money to take care of a child. Raising kids in the United States is becoming even more expensive. The cost of living is going up. But people’s wages are not.

A new report says that it costs about 20,813 dollars per year to raise a child. But in some places, it can cost 35,000 dollars. Childcare is the most expensive thing for parents. It costs about 9,000 dollars per year. Sometimes the sum is more than 22,000.

The report also shows the cheapest and most expensive places to raise kids. The cheapest places are Morristown and Sumter. The most expensive places are in California and Massachusetts.

Difficult words: raise (to bring up a child), wage (money which you get for your work), sum (an amount of money).


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