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What’s the cost of raising a child?

From food to childcare and holidays to education, the cost of bringing up children can be significant. For many couples thinking about starting a family, considering the financial implications of expanding their household is another vital item on the long list of parenthood!

Though the exact cost of bringing up a child will vary depending on parents’ choices and children’s interests, what’s certain is that the overall bill of supporting a child to the age of 21 is on the up, rising by 58% in the last 10 years to an estimated total of over two hundred thousand Pounds.

This may well leave parents wondering where exactly their money is going, so let’s take a look at the biggest costs involved in bringing up a family.


The biggest cost involved in raising a child is education. Even excluding private school fees, the average amount that parents spend on uniforms, supplies, university fees and other miscellaneous essentials is projected to be over £70,000.

This figure has more than doubled in the last decade, largely thanks to University tuition fees. If private boarding school fees were added in, the total cost of educating a child could be as high as £270,000.


The other main cost that most parents will face is childcare. Ten years ago, the average cost of childcare was around £40,000. Even a few years ago, parents were paying up to £60,000 to ensure their little ones were looked after.


It’s no secret that kids can get through a lot of food, and parents will find their increased grocery bill can put severe pressure on their finances.

Overall, food prices have risen over 12% above inflation in the last decade, with 45% of shoppers now spending a larger proportion of their income on the weekly shop. This has lead to a 30% rise in the cost of feeding kids compared to 2003, with the average parent now spending almost £20,000 over the years to feed their little ones.


Another big burden on family finances is the annual holiday!

As well as general price increases, one of the big reasons for this is that schools are clamping down on term-time holidays. As a result, parents are forced to book trips during half terms and school holidays when the cost of travelling is massively more expensive than off-peak time.


From dancing to football, all the sports and activities that kids love to do cost money. Whether it’s buying equipment, paying for lessons or paying for exams, hobbies and toys add around £10,000 to the price of raising a child.

Though this cost hasn’t gone up as much as some of the other associated expenses, it’s still something that all prospective parents should bear in mind.


Any parent will know that kids grow out of their clothes more quickly than you can buy them. What’s

more, kids are liable to ruin outfits the moment they put them on by spilling, tearing or otherwise damaging them.

As a result, UK parents face a clothing bill of almost £11,000. No small figure!

The first year

Though many of these expenses will be spread over time, couples about to become parents should be prepared for a pricey year with most kids costing approximately £10,000 in their first 12 months.

A combination of clothing, childcare and paraphernalia, this enormous bill may come as quite a shock to new mums and dads. Luckily, much of the expensive equipment new-borns require can be reused by younger siblings, so having another child shouldn’t require another £10,000 from parents’ pressured finances.

Can we help?

If your finances are tight and you need legitimate support to get by, we’re here for you. Visit the Everyday Loan main page to see just how we can help with a competitive loan to suit you.

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Andrew Wayland
Marketing Director at Everyday Loans
Andrew Wayland is a financial marketing expert and helped set up Everyday Loans back in 2006. Prior to his position as Head of Marketing for Everyday Loans he worked as the Head of Commercial Development for a tech start up and ran his own PR agency for around 5 years. LinkedIn: https://www.linkedin.com/in/andrew-wayland-9018074