The Average Cost Of Raising A Child Look Like This

One of the greatest moments in many of our lives, the birth of our children.  It is quite a momentous and beautiful time, seeing our sons or daughters for the first time when they are born.  

But these little bundles of joy and love can be work, and there really isn’t a handbook on how to raise them.  There also isn’t any books warning us about the cost or expense of having children; the cost of raising them from birth till they fly the nest.

But in doing some research we did find out a few facts about the cost of having children and raising them. Also, we found a reliable way to get money for your expenses, zippy loan phone number may turn out the solution you are looking for.

It now costs over a whopping $255, 000 to raise a child from birth to age 21!  That is a 58% increase over what the costs were in 2009, a decade ago.  And our wages have not increased as much over the same time period, so in a sense, it will feel like it costs more. And that is quite a healthy increase.  

When you compare the cost of raising a child to the rise in income levels, it shows that the UK is one of the most expensive countries to have and raise a child.  Now that is saying something as we have health care as a part of our taxes; in America and other countries we do not, so you would need to factor in healthcare as an additional expense in those countries for raising a child.

According to research company CIP, from 2003 to 2011, for example, the average cost of raising a child in the UK rose by 55%, while the average rise in UK incomes has only been 25%.  This equates to a person who is earning $21,473 annually would spend on average 49% of their earnings on raising their child as opposed to 38% of their earnings back in 2009.

If you look at the recent benefit and tax credit changes and cuts you can see why parents are worried and upset.  Parents need to make up this reduction in benefits, and where is it going to come from?  Pay raises are few and far between, and with unemployment high, changing jobs isn’t always possible.

So what are the expenses associated with having children?  

Most of us know the answer to that one, but here is a bit of a breakdown of where the money goes:

  • Obviously one of the most expensive parts of raising a child is their education.  Depending on the type of schools they go to it can cost as much as $71, 000!


  • Next in the expenditure line would be childcare and babysitting, which can cost upwards of $62, 000.  When you see this figure, and if you have children, you can understand why for some families it is cheaper to have one parent stay at home and raise the kids.


  • A few other expenditures that make up the over $200K are $9,000 to toys and hobbies, $15,000 for holidays, over $10K for clothes, and over $18K for food.  There are other expenses, but these make up the bulk of the cost of raising a child.

So what happens to all thee expenses if you are no longer around to work and pay them for your children? Who is going to take care of them and provide for them?

That is where life insurance comes into play and can be there to provide for the financial needs of your children.

Life insurance cannot take your place, or replace the loss or the love the children may have, but it can make sure they have a roof over their heads, food to eat, clothes, and an education.  It is amazing what money can do, and that is what life insurance is all about, providing for your loved ones financially in case you are no longer around to do so.

It is surprising how many parents don’t have life insurance in place.  If they were to sit down and look at these shocking costs to raise their family, and how inexpensive a life insurance policy can be, they might rethink matters and run to their local insurance shop.