Millennial parents didn’t expect kids to be so expensive—and it’s stressing them out. According to a Bank of America survey, 59% of 24-to-41-year-olds said they underestimated the cost of raising their children. Gen Z and Millennials tell YPulse supporting a family is a top financial worry, and we found that 69% of 13-to-36-year-olds think having children would negatively impact their finances. But compared to older generations, they’re still surprised at the costs—perhaps because raising a child under 18-years-old now requires more than $230,000, according to Merrill Lynch. (Business Insider)
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