Some places can be more expensive for families than others. This is because area economic conditions and other factors can cause there to be quite a bit of variation between different geographic areas in what sorts of costs families face in connection to typical family expenditures and in the kinds of economic opportunities available to families.
Recently, a report ranked the states on how affordable they are for families. The ranks were based on a family affordability score the report determined by looking at the following factors for the various states: child care costs, housing costs, food costs, family leave policies and median income.
The report indicates Minnesota is a relatively expensive place for families. While the state was not among the top 10 least affordable states for families, it was rather firmly in the more expensive half of states. The report named it the 36th most affordable state for families, making it the 15th most expensive state. As a note, when it came to determining Minnesota’s family affordability score and rank, the report did not have access to statistics on child care costs related to school-age children, so it controlled for this factor for Minnesota.
What financial challenges do you think are particularly common for Minnesota families? What do you see as being some of the most expensive aspects of raising a family here in Minnesota?
Typically, a big chunk of family expenses are costs related to the kids. Many things can have an effect on how able a parent is to meet these costs. If the parent is divorced or separated, one such thing is what kind of child support payments have been ordered in relation to their kids.
Information regarding the income of parents is one of the things that can play a big role in what sort of child support order is made in a child support case. Thus, being accurate in the information one provides in such cases can be very important. Family law attorneys can help divorcing/separating parents with information gathering in preparation for child support proceedings.
Source: The Huffington Post, “10 Most Expensive States to Raise a Family,” Elyssa Kirkham, Nov. 9, 2015