Episode Details

New Jersey ranks fifth most expensive state for raising a child, with families spending nearly $32,000 annually in the first five years—way above the national average of $29,325. Only Hawaii, Maryland, Massachusetts, and California cost more. The study, based on a two-earner household with one child earning median income, includes major expenses like infant daycare. Over a child’s lifetime, national costs hit over $300,000, averaging $16,857 per year—but those first five years are the real financial punch.

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