You think about making a baby, having a baby, raising that baby -- but have you thought about the cost of that baby?
According to the USDA, it costs over $230,000 to raise a child until they are 17.
You start with the crib, the high chair, the diapers -- more diapers and even more diapers -- but that is just the beginning.
Nearly two-thirds of Americans can’t pass a basic financial literacy test. And the average debt in households is over $135,000.
Nerdwallet.com says only about one in 10 Americans check every financial heath box, which includes retirement savings, emergency funds and protections.
CEO Pamela Gilmour says first you need a plan.
“What results are you looking for? That could be a number of things from getting out of credit card debt; I want to make my retirement plan better,” Gilmour told Ivanhoe
What if a baby is in that plan? First step: nerdwallet.com says you also need to look into maternity and paternity leave to find out if you need more unpaid time.