Houses are cheaper than children !!!!!
21 November 2003, 08:19 AM
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From BBC
Raising a child now costs more than the average UK house according to new research from Liverpool Victoria Friendly Society.
From birth to leaving university at age 21 it costs parents £140,398 to feed, clothe and school their children.
This compares to the £137,800 cost of an average home according to the most recent Halifax house price survey.
UK parents are the top spenders in Europe and are the most likely to splash out on toys and holidays.
Escalating cost
In fact it costs parents nearly a third more to bring up a child in the UK than in Spain and France.
Italian parents spend the most of basics such as clothes and food but UK parents spend far more on luxuries for their children.
How costs break down
Year 1-5 £46,695
Year 6-11 £31,000
Year 12-18 £33,747
Year 19-21 £30,000
Source: Liverpool Victoria
Costs are highest for UK parents in the first five years of their child's life when a staggering £46,695 is spent.
As every parent is aware the bills don't stop rolling in when their offspring reach 18.
In fact the escalating cost of university means on average UK parents splash out £30,000 on their child between the ages of 19 and 21.
"Everyone knows that raising children can be expensive but few will have realised that bringing up three children could cost nearly half a million pounds, luckily enough my brood is financed by the extra premiums the motor insurance section charges for wide boy modifications such as gold wheels" Malcolm Berryman, Liverpool Victoria's group chief executive, said.
[Edited by Dunk - 11/21/2003 8:30:18 AM]
Raising a child now costs more than the average UK house according to new research from Liverpool Victoria Friendly Society.
From birth to leaving university at age 21 it costs parents £140,398 to feed, clothe and school their children.
This compares to the £137,800 cost of an average home according to the most recent Halifax house price survey.
UK parents are the top spenders in Europe and are the most likely to splash out on toys and holidays.
Escalating cost
In fact it costs parents nearly a third more to bring up a child in the UK than in Spain and France.
Italian parents spend the most of basics such as clothes and food but UK parents spend far more on luxuries for their children.
How costs break down
Year 1-5 £46,695
Year 6-11 £31,000
Year 12-18 £33,747
Year 19-21 £30,000
Source: Liverpool Victoria
Costs are highest for UK parents in the first five years of their child's life when a staggering £46,695 is spent.
As every parent is aware the bills don't stop rolling in when their offspring reach 18.
In fact the escalating cost of university means on average UK parents splash out £30,000 on their child between the ages of 19 and 21.
"Everyone knows that raising children can be expensive but few will have realised that bringing up three children could cost nearly half a million pounds, luckily enough my brood is financed by the extra premiums the motor insurance section charges for wide boy modifications such as gold wheels" Malcolm Berryman, Liverpool Victoria's group chief executive, said.
[Edited by Dunk - 11/21/2003 8:30:18 AM]
21 November 2003, 09:06 AM
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i never understand these things.
there is no cost to rasing children anymore than a cost to me. if you bring kids into your life then they are entitled to some of the money in your life...the share you chose to give them is up to you.
in my family i am the only earner but my money is shared between me, the 3 kids, mrs t and the dogs......my kids may argue they get a raw deal as they have bikes and i have a 30 grand car.....they have a dot to dot book and i have an x box!
all a nonsense...if you dont want to share your family wealth dont increase your family- dont increase it and then moan about the "cost of kids"
T (happy to share wealth and couldnt give a toss how its shared between the tiggsies....the day i calculate that figure is the day i'll put the kids on ebay)
there is no cost to rasing children anymore than a cost to me. if you bring kids into your life then they are entitled to some of the money in your life...the share you chose to give them is up to you.
in my family i am the only earner but my money is shared between me, the 3 kids, mrs t and the dogs......my kids may argue they get a raw deal as they have bikes and i have a 30 grand car.....they have a dot to dot book and i have an x box!
all a nonsense...if you dont want to share your family wealth dont increase your family- dont increase it and then moan about the "cost of kids"
T (happy to share wealth and couldnt give a toss how its shared between the tiggsies....the day i calculate that figure is the day i'll put the kids on ebay)
21 November 2003, 09:11 AM
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The average wage in this country is £21k. If people have two kids, that means they spend ALL their wage on kids from years 0-5. I doubt it somehow. So, no rent/mortgage costs, food costs for parents, etc etc?! Hohoho. Is Xmas early?
How do they arrive at these figures!!!
[Edited by imlach - 11/21/2003 9:12:24 AM]
How do they arrive at these figures!!!
[Edited by imlach - 11/21/2003 9:12:24 AM]
21 November 2003, 09:12 AM
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Yeah, most of the year 2-5 cost is childcare, Old Fartess looks after the Wee farts so I've saved that (£9k/year X 2 Fartlets X 4 years = £72k = 911 C4S for Old Fart 
)
**** it got food on the table, water and central heating, what more could a family want?
Cman
)**** it got food on the table, water and central heating, what more could a family want?
Cman
21 November 2003, 09:32 AM
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Must admit it did make me chuckle, these "surveys" seem to pop up with attention grabbing headlines, (you don't gain publicity by stating the norm.) They are all based on opportunity costs, & therefore tend to be very hypothetical.
Is the loss of Mrs Dunk's income when giving up work to look after Dunk minor a real cost ?
Not in my eyes, but in the terms of a headline grabbing publicity seeking survey - YES
D
Is the loss of Mrs Dunk's income when giving up work to look after Dunk minor a real cost ?
Not in my eyes, but in the terms of a headline grabbing publicity seeking survey - YES
D
21 November 2003, 09:35 AM
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Defo !!
All these things serve to do is make kids a financial issue rather than an emotional one. Personally the cost means nothing to me and is really nothing compared to the cost of living for two adults.
Based on an average salary of £26k (about £1500 pcm net) then over 21 years it costs you £378k to be able to live per head or £756k combined. One child therefore takes up about 20% of your combined salaries over 21 years. So what ?!?!
One things for sure I've definately not spent anywhere near three fiths of £46k on my 3 year old.
Going slightly off topic I saw one of these and thought of you Tiggs CLICKY Soz
All these things serve to do is make kids a financial issue rather than an emotional one. Personally the cost means nothing to me and is really nothing compared to the cost of living for two adults.
Based on an average salary of £26k (about £1500 pcm net) then over 21 years it costs you £378k to be able to live per head or £756k combined. One child therefore takes up about 20% of your combined salaries over 21 years. So what ?!?!
One things for sure I've definately not spent anywhere near three fiths of £46k on my 3 year old.
Going slightly off topic I saw one of these and thought of you Tiggs CLICKY Soz
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