For today's Morning Talker, we discussed the new cost of raising a child with our friends from the ABC 6 newsroom.

New research has found that children born in 2013 can now cost up to $245,000!  It has also said that families in the North East will spend even more than the new average. This study includes food, housing, childcare, and education, but not college. College itself could be a whole new $245,000 for many four year institutes!

Both Larry and I agree that in order for families to maintain this high price, they have to make sacrifices. Families might have to focus on spending less on themselves and more on items for their children.  But even through all of this, everyone in the news room at ABC 6 agreed with us, that they are worth every penny!

Do you think this is a correct estimate? Watch the Morning Talker down below and comment with your experience.