Millennials may not be ready for how much kids will really cost.

Millennials may not be ready for how much kids will really cost. According to a NerdWallet analysis, two-parent households with a $40,000 annual income should be prepared to pay up $21,248 during the first year of raising a baby, but a related Harris poll found that 53% 18-34-year-old parents or plan-to-be parents saved or plan to save less than $5,000. However, the study also found that Millennials are more likely than 35-44-year-olds to say saving for child care, saving for college, and buying life insurance are top priorities for baby’s first year. (USA TODAY)