How expensive are kids these days? According to a new report by Merrill Lynch, it costs the average American $230,000 to raise one child … and that doesn’t include college!
That number is staggering, and according to the report, it is primarily because parents feel pressure to have their kids keep up – or even have a leg up – on their peers. Parents are doling out money for everything from tutors and private school to dance classes and sports trainers. Parents think if they don’t give their kids all these extra activities they won’t be able to compete with their peers and succeed.
Sadly, this is making having kids financially impossible for many families. Read more here :https://www.businessinsider.com/cost-of-raising-a-child-today-merrill-lynch-report-2018-10