A comment on Twitter recently caught my eye: “Sure, kids cost roughly $14,000 annually, but think about all the money you save from no longer having a social life.” It was tongue-in-cheek, but correct—kids are expensive!
A 2017 U.S. Department of Agriculture report found that the average cost of rearing a child from birth to age 17 is $233,610 (“How Much Does It Cost to Raise a Child in the U.S. in 2018?,” TheStreet.com, December 19, 2018). And this figure does not include the cost of college.