The teen years –can be expensive; estimates for raising a child to 18 years of age range from $165,000 to $240,000 or more1, with annual costs rising steeply.

And it’s not just about the expenses – your time and energy will go toward supporting your teens through emotional turmoil, changing hormones and social dynamics.

Having a plan and budget will help you manage costs, which can reduce stress so you can better enjoy your time together as a family.

Here are some rough estimates of the main expenses for raising a teen. However, they don’t account for household costs, family vacations and other special items. Nor do they reflect that some teens find a part-time job to cover discretionary spending (clothing, eating out, mobile devices, hobbies, etc.).

As every family is different, the costs will vary:

Food

Clothing and fashion

Education

Technology

Medical, dental and eye care

This category can be hefty, depending on your teen’s needs — everything from sports physio to psychology to nutritionists to unexpected illnesses could require you to pay out-of-pocket.

Transportation

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Other resources you may want to read:

“The real cost of raising kids,” Moneysense 

“5 mistakes parents make with teens and tweens,” WebMD