Many moms go into debt to be 'perfect parent'
You'd be hard pressed to find parents who don't want the best for their kids, and many of them are spending beyond their means to do it. Nearly half (46%) of moms surveyed for BabyCenter's 2015 Cost of Raising a Child report said they've gone into debt to cover child-rearing expenses, and that's not terribly surprising, given that the survey puts the average annual cost of raising a kid at $13,248 (per child).
To go from being childless to spending more than $13,000 on raising a child the next year, new parents would need to make a lot of sacrifices and budget modifications to avoid going... read more
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