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David and Lauren Bonney had been married four years, when they had their first child, a boy named Max. They are now expecting a girl and better prepared this time around for the expenses children bring.
According to an annual study performed by the United States Department of Agriculture, the average cost of a child is between $10,000 and $25,000 a year, depending on the age of the child and income level of the parents.
Parents who make less than $61,530 generally will not end up spending more than $10,000 a year on a child, whereas those who make over $106,540 will end up spending more than $25,000 on a child by the time he or she enters high school.
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