Cost of a Child: Report

Cost to Raise a Child: Report

The cost to raise a family is growing every year. This table from Centre for Economics and Business Research shows that it costs on average £227,266 to raise a child; this figure is up 61.9% compared to figures produced in 2003. The category which has increased the most is the cost of childcare up 66.9% compared to 2003. The research also shows that the cost of a child first year has rose 5%. During this year, and throughout childhood, childcare will be on the top of all working parents priorities and childcare should not be a luxury.This report shows that families need a more affordable childcare system. Every Step is working towards that goal with your help, tell us your story.

CATEGORY THIS YEAR: 2014 % DIFFERENCE FROM LAST YEAR % DIFFERENCE FROM FIRST REPORT: 2003
Childcare & Baby sitting

£66,113

3.7%

66.9%%

Education*

£73,803

1.3%

123.5%

Food

£19,804

2.8%

32.8%

Clothing

£10,935

1.5%

-3.7%

Holidays

£16,506

1.9%

44.1%

Hobbies & Toys

£9,433

1.3%

6.5%

Leisure and Recreation

£7,419

0.9%

16.5%

Pocket money

£4,553

2.1%

34.5%

Furniture

£3,453

-0.3%

66.5%

Personal

£1,157

0.2%

25.1%

Other

£14,091

1.3%

59.3%

Total

£227,266

2.2%

61.9%

*Does not include private school fees but does include day to day costs associated with going to school (e.g. school trips, text books, uniform and school lunch) and university fees 

 

 

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