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What it really costs to raise a kid

Newborn baby girl
A mother holds her newborn baby girl as her husband watches, hours after the baby was born at the Mercy hospital in Miami, Fla., 2006.
ROBERTO SCHMIDT/AFP/Getty Images

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For this week's Circuit Cents, we discuss the financial realities of raising a child.

From The Wall Street Journal:

Most births in the U.S. occur in August, with July a close second. If recent patterns hold, the country will welcome more than 700,000 new babies over the summer months.

How much is a child likely to cost you? Estimates range from more than $240,000 (in today's dollars and excluding the cost of college) for a typical child. Add $1.4 million to $2.4 million (including government expenditures such as Medicaid) for a child with a disability such as autism.