Cost of children, say it's not true!

Bride2012

This is the latest survey of the average cost of raising a child in the UK(and they've the NHS, no GP fees etc.), is this true? I don't know how I could afford this!


The cost of raising a child until their 21st birthday has rocketed to £210,000 - that's 50% more than parents spent in 2003.
It now costs £10,040 a year or £836 a month to bring up a child, according to a report by insurer Liverpool Victoria (LV).
What's more, those costs are rising by 4.5% a year — so more quickly than the official rate of inflation for 2010, which was 3.7%.
Childcare is the biggest expenditure parents face followed by education, food and clothing.
How much parents spend
Here's a table showing how much the average parent now spends to raise a child and how that money is spent:
Expenditure Total cost in 2010 Total cost in 2009 Total cost in 2003 (1st year of the report)
Childcare & Babysitting £67,430 £65,699 £39,613
Education £55,660 £52,881 £32,593
Food £18,518 £17,490 £14,918
Clothing £15,683 £14,035 £11,360
Holidays £14,052 £13,207 £11,458
Hobbies & Toys £10,565 £10,780 £8,861
Leisure and Recreation £8,147 £7,772 £6,366
Pocket Money £4,543 £4,338 £3,386
Furniture £2,798 £2,770 £2,074
Personal care £1,164 £1,107 £925
Other (includes driving lessons, first car, birthday and Christmas presents) £12,287 £11,731 £8,845
TOTAL £210,848 £201,809 £140,398
The report also shows that children cost more the older they get, especially if they go to university, which costs parents £14,365 a year on average. The breakdown of parental spending by different years of a child's life is as follows:

• 1st year - £9,491
• Years 1 to 4 - £53,586 (£13,397 a year for these years)
• Years 5 to 10 - £56,856 (£9,476 a year)
• Years 11 to 17 - £47,820 (£6,831 a year)
• Years 18 to 21 - £43,094 (£14,365 a year)

Ayla

I guarantee you that it doesn't have to be that expensive. But it could be even more, it just depends on what you prioritise.

For instance, everyone gives out about the cost of kitting out & preparing for a baby, but I know for a fact that we didn't pay much. We kept everything basic (i.e.: we didn't have any baby furniture other than a cot, we used an existing side table as our nappy changing station, we got a plastic storage tower instead of a wardrobe, etc). We also used a sling & wrap instead of a buggy, which easily saved us hundreds.

We've made professional sacrifices so that one of us is always home with the kids (what we wanted all along anyway) so we don't have any childcare costs.

We are lucky in that we haven't had to buy much clothing b/c we've accepted hami-downs from the family. But we don't spend much (if anything) on clothing for ourselves so even if we had to buy clothes for the kids it would be basic.

And on and on. It really just depends on your priorities and how much you want to spend.

Some education costs are mandatory, but it's up to you how you deal with the situations you'll face.

CrazyRabbit

"£836 a month to bring up a child"

Seems like a very high figure. What are these children being fed?...Caviar?

HeisenbergBB

You can buy a box of durex for under 10 euro in Dunnes. Problem Solved!

Moonbeam

creche fees are 1100 other then that,the bigger house,the bigger car after those crazy costs then kids are only really as expensive as you make them.

Moonbeam

HeisenbergBB wrote: »

You can buy a box of durex for under 10 euro in Dunnes. Problem Solved!

*mod warning*

Please do not post unhelpful off topic posts on these boards.

bad2dabone

Moonbeam wrote: »

creche fees are 1100 other then that,the bigger house,the bigger car after those crazy costs then kids are only really as expensive as you make them.

Very true, crèche fees are mental but the rest isn't so bad

BostonB

That doesn't seem to include trips to the doc or A&E or when you catch all the kids bugs.

LegacyUser

Bride2012 wrote: »

the UK(and they've the NHS, no GP fees etc.)

[/LIST]

This is why there's no med fees

January

fdbyubrgu wrote: »

This is why there's no med fees

Yeah she said that there's no med fee's because they have a health system that's free for everybody.

nessy382

HeisenbergBB wrote: »

You can buy a box of durex for under 10 euro in Dunnes. Problem Solved!

haha good 1

January

Moonbeam wrote: »

*mod warning*

Please do not post unhelpful off topic posts on these boards.

nessy382 wrote: »

haha good 1

Please make sure you read all of a thread before you reply to it. Thank you

LegacyUser

From Bank of Ireland for education
Expenditure

[mod edit]table didn't translate well so here's the link:

http://www.bankofirelandlife.ie/Latest-News/Average-cost-of-educating-your-child-can-add-up-to.aspx

cynder

Quote from bank of ireland


Expenditure Annual € Primary Annual
Study Books & Materials 123.44
Uniform, Sports gear & Shoes 125.50
Lunch 610.50
Fees & Voluntary Contribution 132.00
Transport 240.50
Total Annually 1,231.94
Years in Education 8
Grand Total 9,855.52

First my lady is in primary and thats a heap of ****
125 for a Uniform, Sports gear & Shoes * BULL*

My eldest in 5th class is as follows (given that some items can be reused for 2 years others only last a year)

35 school jumper with crest x2
10 school polo shirt with crest x2
10 school skirt/trousers generic (dunnes stores) x2
45 school pe kit (has to have school crest)
45 school shoes (clarks)
45+ school runners
45+ soccer boots
20+ o neils shorts for soccer
20+ o neils top for soccer
15 schools shirts
8 school tie
15 school socks
15 sports socks
45+ hurling helmet
8+ hurley


Gota a feeling thats way more than 125, infact its €368+

school books + bags and lunch boxes cost approx €200

school fees €80 + extra for swimming and other thing comes in at around 150 a year

transport petrol is at least €50.00 a week ( i do have 3 kids at 2 different primary schools) approx €1, 500

Lunch 610

total cost for 1 year €2,828 not €1,231. If unifroms were generic it would cut costs big time, depends on your child feet if you can buy cheeper shoes, my lady is diabetic and has to have good shoes.

CrazyRabbit

Why do schools insist on uniforms anyway? They are a bit pointless and just add to the cost.

Morag

Less wear and tear on clothes, one set does the year day in day out, less cost, less washing.
Cuts down on competition, distraction and bulling due to fashion.
Cuts down of children who do not have branded clothes feeling less confident.
Helps the class bond as a group, they all look the same they all have to conform to the same rules, they are all equal.
Code of conduct for the school stipulates certain types of good behaviour while in uniform be it in school, travelling to/from school and on school tours.

Bride2012

Well this has been eye opening. I wouldn't agree that uniforms are pointless crazyrabbit. Studies have shown that the promote discipline and obedience in a class, pretty important with one teacher and 30 little ones. I think that not having them would had more expense to be honest, maybe not when they're very young but 8+ and it's all brands and who's wearing what, that's part of the reason for the recent enough introduction of school tracksuits too. I know myself that as a former secondary school student the stakes were high during wear what you want days and there were only about 5 a year. Everyday like that would be a nightmare.

PinkFly

the cost of their first car is in there too....

is it just me that will not be buying my son his first car when he gets to that age??

Ayla

Uniforms themselves are not the problem - the problem lies with all the unique uniforms that are created (and thus charged premium prices for). There really isn't a reason why standard uniforms can't be mass produced & then each school personalize theirs with a sewable patch/tie.

I personally think it's disgraceful how far uniforms have gone - the costs easily go into the hundreds per child per year. Parents don't need the expense! But there's too much money in it for the local stores so I don't see any overhaul happening anytime soon.

BostonB

Ayla wrote: »

...There really isn't a reason why standard uniforms can't be mass produced & then each school personalize theirs with a sewable patch/tie.....

+1

Eveny a stand set of 3 or 4 colours that can be mix and match.

Our primary is moving back to more standard colours as the uniform is cheaper. That said when I was at school none of the primaries near me had uniforms. Now most of them do.

cynder

PinkFly wrote: »

the cost of their first car is in there too....

is it just me that will not be buying my son his first car when he gets to that age??

Plan on getting my lady a moped/scooter at 16.

Bride2012

Bank of Ireland; €38,614 for the third level years.
There isn't any chance that I cost my parents anywhere near that for college. I saved and took out loans and had 2 part time jobs and paid my own rent and costs. They gave me a grand when I changed course and had to pay full fees in first year and gave me the odd few bob if I was stuck but not €38,614!

Parents can wrap their kids in cotton wool a bit too much. I've friends who had all of their costs paid in college and always had money but they're awful with money now and can't seem to budget.

stovelid

These stats are always a bit stupid and meaningless.

You can calculate an arbitrarily high amount for any long-term activity: like those dumb nuggets of information about how much of your life you spend on the toilet or how much money you spend on chocolate or something.

PinkFly

grindelwald wrote: »

Plan on getting my lady a moped/scooter at 16.

really??

ive seen this happpening (i have gone back to college and all of the students have just left skool)

i worked my ass off and paid for my own car....tax....insurance etc...

these girls got cars for their 18ths and reallly dont seem to apprieciate it...

one of them is changin her car 5months after she got it

a step too far i think...

b743k

The first year is the cheapest in a baby's life? I assume that this is due to no childcare during maternity leave but to stock up and prepare for a new baby is bound to outweigh other early years. I agree with the total for an average couple with relatively good incomes but a lot of the break down seems off.

A lot is down to choice too, the local second hand shop won't take baby equipment anymore simply coz nobody ever buys it. I know that car seats need to be new and mattresses but surely people could get good use out of a lot of the other expensive things. Seems crazy to me that everyone is forking out for new stuff.

CrazyRabbit

Bride2012 wrote: »

Well this has been eye opening. I wouldn't agree that uniforms are pointless crazyrabbit. Studies have shown that the promote discipline and obedience in a class, pretty important with one teacher and 30 little ones. I think that not having them would had more expense to be honest, maybe not when they're very young but 8+ and it's all brands and who's wearing what, that's part of the reason for the recent enough introduction of school tracksuits too. I know myself that as a former secondary school student the stakes were high during wear what you want days and there were only about 5 a year. Everyday like that would be a nightmare.

Unless the kids are wearing the uniforms outside school hours, I'd guess that they still 'need' these branded clothes etc. So the uniform would still be an extra cost.

As for the fashion aspect, well it's not that expensive to dress quite well. Designer brands are not needed. And besides, kids need to learn how to deal with the fact that different people having differing economic backgrounds.

I'll admit it's been quite some time since I was in school myself, but I don't recall there ever being much hassle about what was being worn. Some had nicer clothes than others, but it's not like any of the kids were walking around in torn clothes.

Perhaps I'm just old

KittyeeTrix

PinkFly wrote: »

the cost of their first car is in there too....

is it just me that will not be buying my son his first car when he gets to that age??

No, my eldest will be 17 in May and I certainly won't be buying him a car.
I didn't grow up in the MTV generation watching My Super Sweet 16 hence was not bought a car by my parents so I certainly won't be buying my lad one..............:)

PinkFly

fluffyorganic1 wrote: »

No, my eldest will be 17 in May and I certainly won't be buying him a car.
I didn't grow up in the MTV generation watching My Super Sweet 16 hence was not bought a car by my parents so I certainly won't be buying my lad one..............:)

thank god....thought i was gettin left behind...

my sons only 6....but i defo wont be givin into that nonsence....

its not america tho....everything is so close here??

defo did me no harm.... :P

cynder

PinkFly wrote: »

really??


i worked my ass off and paid for my own car....tax....insurance etc...


a step too far i think...

http://www.scooter.co.uk/50cc-scooters-for-sale.html

trek bikes can cost more^^^.

The scooter will be around €1000 the insurance will be the same and then there is tax (only 50 euro) and lessons, and when she is 17 will stick her on my car insurance, she is diabetic her insurance premiums are going to be hugh, the sooner she gets insurance and builds up a no claims bonus the better. I will also encourage her to get a part time job. She will have her independence and can drive herself to/from school/work/town and so on.

I got my first car at 28, i was driving my husbands at 26 (we bought our own house at 25) no hand outs from either of our family's, if we are in a position to help our kids we will, even if is only buying them a 10 year old Toyota yaris. I do however expect them to get a part time job to pay for their own petrol costs.

Morag

tbh I can seen the need if you live down the country a good distance from any of the towns.

ash23

My little woman is 8. For the first 4 years creche fees were €800 per month. Then €525 per month for a year. Now it's averaging €400 for afterschool and holidays. Birthdays cost about €100 per year plus €50 gift and I'm not in any way excessive (they seem to get dearer as they get older), christmas is about €150 - 200. Then there's the gifts for their friends parties, fundraisers at school, swimming lessons, occsaional days out to the cinema .... She costs me more now than she ever did as a baby. No more tops in cheap shops for €1 or €2!

School costs, it probably costs me about 500e to get her back to school in September with uniform, books and shoes and ineveitably I have to buy another pair of shoes and runners before the school year ends (children, oh how they grow!). On top of this there's normal day to day costs like food, heat, rent (can't houseshare when you've a kiddo!), clothes..........

And the one off costs like the bigger bike, the car seat, and the baby costs.

I'd say I've already spent about nearly 60k on creche, birthdays, christmas and school costs. Bear in mind, she's 8. So I'm looking at an extra 24k creche costs before she can come home alone, another 5k back to school costs and no doubt the cost will increase in terms of the additional costs of school.
Throw in feeding them, clothing them, entertaining them etc and it's probably a bit less than 230k.

Having said that, I've just the one so there are no hand me downs in our house. I'd imagine subsequent children would be slightly cheaper to raise.