Can You Afford to Start a Family?

Kimberly Palmer
Prepare yourself for the huge step of parenthood by asking yourself a few questions.

Prepare yourself for the huge step of parenthood by asking yourself a few questions.

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When to start a family is such a personal decision that it might seem strange to consider money as a factor. But in addition to being adorable bundles of love, babies are also incredibly expensive. The US Department of Agriculture estimates that a middle-income husband-wife family will spend $26,000 on their child during the first two years of his or her life. If becoming a parent also means that you or your spouse will scale back your work hours, those costs can become even harder to bear.

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