[Request] I am turning 18 soon and I want to calculate the entire cost of raising me from 0-18 that my parents spent. How should I even start?
I'm just curious and I love statistics, numbers, and finance. Wanted to start this personal project and was wondering if anyone has ever done this before or how to even start.
I grew up in Hong Kong, so I'm thinking that the main costs would be (1) schooling (2) medical bills (3) rent. There are also many things to consider, like inflation - would I adjust the total nominal amount according to the yearly inflation rate? Also for rent, I was thinking of taking the total rent we pay and dividing it by 4 since there are 4 people in the house. For practical purposes I cannot count in additional costs, like the money my mom would have made if she didn't retire and become a stay-at-home mom when she gave birth to me.
Any ideas? I'm taking this seriously and I would like to make this figure as accurate as possible:)
Posted Dec 11, 2023, 9:42 AM UTC