The cost of raising a child today is $233,610 – excluding the cost of college – for a middle-income family, according to the U.S. Department of Agriculture.
The stakes may be higher for new parents than in previous generations, thanks to a combination of changing demographics and economic pressures.
Women are delaying motherhood, a trend especially pronounced for college-educated women. That means new parents typically have a better financial foothold than in earlier decades, yet it can deliver other challenges, such as a higher rate of fertility problems and tough decisions about balancing work and family. CAN YOU AFFORD TO BE A PARENT TODAY