Our Kids - What's the Cost?
In the last twelve years the cost of raising a child has increased by over 60% - twice the rate of inflation. With the average cost of taking a child through university to age 21 now a staggering £229,251, the financial strain on new parents has never been higher.
A survey by ITV Tonight and parenting website Netmums has revealed that 80% of parents are having to make cutbacks to make ends meet, potentially putting a strain on their family life. Reporter Jonny Maitland went to meet the families preparing for a new baby, and those who've had to find new ways to afford the best start in life for their children. Tonight asks: what can parents do to bring down the costs?
And is it any wonder: the costs begin before the baby has even arrived. In general parents spend around £1000 preparing for their newborn. Jonny Maitland spoke to mum to be Amy who has already spent around £3,000 on cots, baby grows, Moses baskets, a pram, bedding...the list goes on.
