How much do children cost?

Remember when you were a kid and your parents justified making you do chores or follow their instructions because they "put food on the table," "pay the mortgage around here" and "money doesn't grow on trees?" Exactly how much do parents pay for their children?

Credit.com has a cool calculator online that lets you estimate the total cost of raising children. This free tool includes your income, children's age and marital status. In a two parent home with an income below $40,700, the cost of raising one child from birth to age 18 is $161,000. And this doesn't even include college!

Write your Mom and Dad a thank you note today for the money they spent raising you! How much do you think you'll spend on your kids? Share your feedback in the comments section below.