According to CNN Money, a recent study from the U.S. Department of Agriculture claims that the average cost of raising a child climbed to more than $245,000 in 2013.
To reach that number, they took the average costs of housing, food, clothing, education, health care, and child care into consideration, along with things like hair cuts, cell phones, and extracurricular activities. Sounds legit, but are those numbers right? Does it really cost a quarter-of-a-million dollars to raise a kid in America these days? [Read more…]