Are you able to earn $24 dollars a day or $171 a week to raise a child. And that is just to take care of the baby! That does not include what it costs for the rest of the family to live everyday. The savings might help, but when you look at all the things you still need to provide, it can be overwhelming.

The average cost of living in a simple one-bedroom apartment with utilities in the suburbs is $25,412 per year. Add that to the cost of raising a baby. You will have to earn $34,308 every year.

Now the challenge is that the average salary of a person with a college education is only $34,000 per year. And the average salary of a person without a college degree is only $22,000 per year. So you can see where the problem comes in. Living in today’s world is expensive if you live alone and even more expensive if you’re taking care of a baby. Living in minimal comfort requires a clear plan of action and a steady income.

Doesn't that include the whole family though? Click to keep reading...