TODAY

TODAY   |  August 15, 2013

Raising a child: Is it priceless or pricey?

The U.S. Department of Agriculture reports that the cost of raising a child averages around $217,000 until age 18, and can reach as high as half a million. Mom and Dad better start saving now, because the estimate does not include the cost of college.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> bank of mom and dad . you can't put a price on the joy your kids bring you, but they don't come cheap. parents with a baby born last year will spend at least $217,000 until the age of 18. the figure could go as high as half a million dollars. that's an increase of 23% since 1960 . what is included in that? housing, food, transportation, clothing, health care , child care , education. what is not included is the cost of college, and that is about $18,000 on top of that.

>> but they're worth it.

>> i would rather not know how much the total is.