
Whether you’re the oldest, youngest or somewhere in between in your family, experts say your birth order has a lot of pull with your finances.

With the high cost of childcare, as well as the difficulty and challenges of being a working parent, many parents, at some point, go through the thought process of determining whether or not they can afford to be a stay-at-home mom or dad.

According to reports from the Department of Agriculture, the average cost of raising a child in the United Sates increased $8,000 in a single year, putting the total cost of raising a child to the age of 18 just under $235,000. Factor in inflation and that amount increases to $295,000.