Skip to content

The UK Centre for Economics and Business Research has released research calculating the estimated cost of raising a child born this year to the age of 21. The figure has increased since 2003 by 65% to £231,843. Unsurprisingly this figure rises to £373,000 with the inclusion of private schooling and is even higher for boarding school children. Break-downs of the estimated costs include: £70,466 for childcare and babysitting, £74,430 for education and £19,004 for food. The research also shows that some child-related costs are rising at a higher rate than wages and inflation. For example, childcare costs have risen by 4.3% in the last year while inflation has risen by 0.2% and wages by 2%. The research shows that children aged 1-4 are the most expensive and that the average UK parent will be spending over a third of their take-home pay on one child.

Family Kids & Youth LLP
146 Freston Rd
London
W10 6TR
UK

Tel: +44 (0)207 183 0261

Email: katy@kidsandyouth.com

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.

OK Privacy Policy