Raising a child is expensive. From basic needs like food, clothing, and doctors’ visits, to extracurricular activities, experts say rearing a child from age 0 to 17 costs roughly around a quarter of a million dollars. And while you’re spending that quarter of a million to raise your mini-me, you still have to think about finding enough extra income to save. But then, the question arises: Where should you be focusing your savings? Should you be saving for retirement to live out your golden years carefree, or should you be saving for your little one’s higher education?