Rich parents spend on their kids on average of around $711,000.00 or even more over the child's lifetime.
Some really, really rich parents may spend millions of dollars on their child which also includes, cars, private schools and even college and other things.
The biggest expense for parents is housing which accounts for 28 percent to 32 percent of the total cost of raising a child.
Other biggest expenses for parents is food, childcare, education, healthcare and transportation.
Diapers and formula are also expensive but not all that expensive when compared to other costs associated with raising a child.
The amount of money that parents spend on their child in a lifetime or from birth to 18 is around $233,610.00 to as much as $310,605.00.
This cost includes diapers, formula, food, baby food, clothing, baby beds, strollers, highchairs, car seats, baby toys and other toys etc.
Raising a baby and child is very expensive although some parents get help through welfare programs and WIC, food stamps, help with diapers etc.
There's also school supplies once the child reaches school age and school supplies have to be bought every year.
The average family pays between $875.00 to $890.00 on school supplies depending on how many children they have and what school supplies they require.
Some parents spend around $50.00 to $60.00 per child on school supplies but it can be more in some places.
Parents also often buy new shoes, clothes and now some students may require laptops or tablets unlike in the years past.