How much does it cost to raise a child?
Today LV published their annual breakdown of how much it costs to raise a child. So how much is it...........well apparently the answer is over £200,000! While existing parents will no doubt say 'i'm not surprised', I expect many soon-to-be parents are scrapping themselves off the floor.
The table below breaks down this jaw-dropping figure and even compares today's figures to those of 2003, when LV began the exercise.
But hey, it's only money right?!
|
Expenditure £ |
Dec 2009 costs |
Jan 2009 costs |
2003 costs (1st year of survey) |
|---|---|---|---|
| Childcare | £54,696 | £53,818 | £32,853 |
| Education | £52,881 | £50,240 | £32,593 |
| Food | £17,490 | £17,205 | £14,918 |
| Clothing | £14,035 | £13,281 | £11,360 |
| Holidays | £13,207 | £11,920 | £11,458 |
| Babysitting | £11,003 | £10,826 | £6,760 |
| Hobbies and Toys | £10,780 | £10,313 | £8,861 |
| Leisure and Recreation | £7,772 | £7,415 | £6,366 |
| Pocket Money | £4,338 | £4,144 | £3,386 |
| Furniture | £2,770 | £2,366 | £2,074 |
| Personal | £1,107 | £1,037 | £925 |
| Other (includes driving lessons, first car, birthday and Christmas presents) | £11,731 | £11,207 | £8,845 |
| Total | £201,809 | £193,772 | £140,398 |
For more details visit LV's website here.
(As an aside, don't forget to claim your free £190 'Health in Pregnancy Grant' if you are an expectant mother. Click here for more info.)
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Great blog