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Marriage, a home renovation, and parenthood have one thing in common: They’re all life-changing events that can have a significant impact on your finances. Few life events compare to the experience of joining the ranks of parenthood and welcoming a new life into your family. The financial impact is often swift and drastic. According to a report released in 2017 by the United States Department of Agriculture (USDA), the projected cost of raising a child born in 2015 to age 17 is $233,610. This does not include the cost of college tuition or a private education.
With these exorbitant costs, it’s no wonder the U.S. birth rate is at its lowest level
in 32 years. Now I don’t want to scare you out of parenthood, that
certainly isn’t my intention. I do want to share my first-hand knowledge. “Mother”
is a fairly…