The true costs of being a parent

Oct 13, 2014 Blog RSS feed There is no doubt that being a parent is expensive – even those who don’t have children themselves can see that providing the essentials for a small being continually growing out of everything is going to take its toll on bank accounts and savings. However, what you may not have realised, is that the cost of raising a child to the age of 21 now outstrips the cost of buying a house – by about £13,000. Experts from the Centre for Economics and Business Research (CEBR) have estimated that the cost of raising a child, from the first nappies and dummies, through to funding a child through university, is in the region of £231,843 – per child – while the average UK semi detached house in now £219,255. So, parenting is very expensive but what are the biggest costs involved and are there any steps that can be taken to reduce them? Childcare According to the report from the CEBR the biggest cost hands down is childcare, which amounts to an eye-watering £
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