According to Business Insider, a new Bank of America report shows that 59% of millennial parents underestimated the cost of raising children. <br />The report surveyed over 1,900 Americans, with millennial respondents aged 24 to 41.<br />The cost of raising kids in the U.S. is the most expensive it's ever been.<br />A Merrill Lynch report says that the average cost to raise a child today is $230,000. <br />This accounts for childcare costs, grocery and health expenses, and education. <br />According to the surveys done, finances are one of the top reasons why American millennials aren't having kids or are having fewer kids that they initially considered.
