If you have a child, you know that it can be expensive. According to a new study done, it costs about as much as buying a 3 bedroom home in Tonawanda!

That's right, the average cost of raising a child from birth to 18 is around $230,000!

According to Merrill Lynch's "The Financial Journey of Modern Parenting: Joy, Complexity, and Sacrifice" the biggest money drain on parents is the cost of childcare.

Also, according to the study, parents should plan to pay for 5 years of college instead of the traditional 4 years.

"For college-bound children, it's wise to plan five years of college, which currently could amount to $127,000 for in-state public school or $255,000 for a private school for parents planning to pay in full for tuition and living expenses,"

 

Instead of a kid, for $230,000 you could get this wonderful 3 bedroom, 3 bath home in Tonawanda.

Photo Credit: Shaun Richards Hunt ERA