I think the number is closer to $234,000 to raise a child from birth to age 18 not including further education etc. Lower income families this figure is adjusted to $160,000. These are approximate estimates and taken from the US department of Agriculture, which conduct annual consumer expediture surveys. I read this in a book recently and haven't really fished around but I am sure the Canadian figures are easily available and I would expect would be very similar.
With two kids in hockey I couldn't be happier to fork over for the joy that I/they get in return. Two games today and then HNIC but the first two games of the tripple header are sure to be best hockey today! Kids + Hockey + Costs.....Still = Joy

No exaggeration....