WASHINGTON – Parenthood might make your life richer, but it won’t do much for your bank account, according to recent data from the Department of Agriculture.
A bundle of joy born in 2010 will cost a middle-income family about $287,000, including inflation, to feed and clothe, including other expenses — but not including the cost of college.
The price tag is up 25 percent from recent years, mostly due to the rising cost of groceries and medical care.
A financial adviser tells CNBC that prudent parents-to-be should practice living on less before the big day arrives.
WTOP’s Bob Kur contributed to this report. Follow WTOP on Twitter.
(Copyright 2012 by WTOP. All Rights Reserved.)
Stay up to date on the latest developments from Paris in the wake of the deadliest attack in France since World War II.
Scenes from this year's American Music Awards, hosted by Jennifer Lopez.