There are some very interesting figures published in a report by Liverpool Victoria concerned with the cost of raising a child, as reported by the BBC.
On average, raising a child from birth to the age of 21 costs £166,000 – that’s £22 a day. And this has gone up by 8% in the last year.
Of course, this isn’t really the end of the story, as more and more kids are continuing to live in their parents homes way after the age of 21, so the true cost is likely to be significantly higher.
This makes interesting reading for me, as I have recently become a father. It’s also interesting for me to note that the most expensive places to raise kids is London, unsurprisingly, but the cheapest place to raise them is in the West Midlands or Scotland.