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According to MoneySense.ca, the average cost of raising a child to age 18 is a whopping $243,660. Break down that number, and thatâs $12,825 per child, per year -- or $1,070 per month. And that's before you send them off to university.
senior fellow at the Fraser Institute and professor of economics at Nippissing University. Prevailing estimates on how much it costs to raise a child in Canada and the United States are currently between $10,000 and $15,000 per year, the report says.enior fellow at the Fraser Institute and professor of economics at Nippissing University. Prevailing estimates on how much it costs to raise a child in Canada and the United States are currently between $10,000 and $15,000 per year, the report says.