Raising A Baby May Cost $45,000 More Than You Think, Here’s Why

A new study from NerdWallet reveals that new parents wildly underestimate what the first year of parenthood will cost them. Of the expecting parents NerdWallet surveyed, 54% believe the first year of their baby’s life will cost about $5,000, and 18% think the first year will only cost them $1,000. Unfortunately, that estimate is off base by many thousands of dollars.

source: Forbes

Unless you own a pricey home, raising a child is likely your largest expense, and apparently, it’s even more expensive than more people realize.

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