Sunday, December 09, 2007
Here is an shorterned version of the Guardian article on costs of bringin up a child, which has gone up a third in the last five years.
A typical family now pays an average of £186,032 to raise a child from birth to the age of 21 - which amounts to £8,859 a year, £738 a month or £24.30 a day - according to Liverpool Victoria.
Childcare remains by far the largest cost faced by parents, with the average family spending £50,538 on childminders, nursery care, nannies and after-school clubs. But education comes a close second, accounting for a further £47,310 - even assuming a state education at primary and secondary school - covering the cost of uniform and other clothing, school lunches, books and extras such as school trips. It also includes the tuition fees for a typical three-year university degree course and the associated living expenses of being away from home. A private education would hugely inflate that figure.
The group found that the expenses associated with having children had increased by 33% since it began the research in 2003, and forecast that costs could rise by a further 42% between now and 2012 to an average of £265,577 - more than £12,500 a year for each child.New parents can expect to shell out as much as £8,184 in the first year of their baby's life, once they have paid for nursery equipment, toys and clothing.The costs are much higher in central London, where families typically pay £199,860 a child, and are cheapest in Wales, at £179,317 a child. Those who choose to educate their child privately face an additional bill of £72,957 for a day pupil and £130,557 for a boarder. Overall the group estimated the total cost of raising all the children born in the UK during 2006 at £140bn, excluding inflation.