And the real cost of having a child is… £231,843!!!

We all know that having a child is an expensive business, but just how expensive are we talking?

According to the 13th annual ‘Cost of a Child’ report from LV=, the cost of raising a child has increased by more than £2,500 in the last year and show costs have reached an all-time high of £231,843 – more expensive than the average house [1]. Holy moly!

Cost of a Child by the team at LV=

The annual LV= Cost of a Child report calculates the cost of raising a child from birth to 21 years old.

Some interesting figures from the research:

  • The average annual cost of raising a child now takes up more than a third (38%) of the average UK household’s net income, and that’s not even considering those who want to take up private tuition.
  • The biggest increase over the year has been 4.3% for childcare costs.
  • Six in ten parents (59%) admit they’re struggling to manage their outgoings.
  • Half (49%) of parents don’t have a plan in place if the main breadwinner were to lose their income due to accident or illness.

Want to know the cost of raising your own child or children? You can use a calculator here to work out the costs for yourselves. In the meantime, let’s break it down in visual form…

Cost of a Child by the team at LV=


What do you think about this news? Shocked? Or had you pegged it at around that?


  1. Childcare costs, yep – our biggest outgoing right now :/ Other stuff – im a huge fan of car boot sales and charity shops for books/clothes and toys 🙂

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.