Research reveals how much it costs to have a child

Starting a family is not an easy choice, especially financially. Indeed, before embarking on the great adventure of parenting, it is imperative to realize that having children is a certain price that is better to know in advance. Some may indeed experience nasty surprises when the time comes. To better understand the real cost to the child, the issue has been explored in a study that reveals the budget that needs to be planned when a child arrives.

Huge budget

Investment company Moneyfarm found out how much parents spend raising a child from birth to 18 years of age. Starting a family does take money, and some people find it difficult to understand the total because of these costs spread over several years. This study in the UK is likely to surprise many, as the average cost of a child in their first 18 years would be an average of £ 320,000, equivalent to around EUR 380 000. The amount seems astronomical, but includes food, clothing, housing, and child care.

However, it may be better to take a step back from these figures, because according to the Ministry of Health and Solidarity, which had already made such a calculation. ” number of childrenwould rather mean EUR 180 000. Therefore, it is difficult to really estimate the cost to children.

Youth is more expensive than early childhood

Through this study, researchers also discovered it children pay even more in their teens. Between the ages of 15 and 18, British parents would spend £ 49,790, i.e. EUR 59 263 . This is indeed a period when children are gradually gaining their independence and therefore need more money. Period At the age of 6-8 yearsis also expensive for parents: they would consume around £ 30,000 or so EUR 35 706 .

INSEE believes that having a child leads20% increase in expenditurefor households. If you are currently planning to start a family, this may make you think twice …