{"id":12087,"date":"2016-03-07T11:30:43","date_gmt":"2016-03-07T11:30:43","guid":{"rendered":"https:\/\/www.kidstart.co.uk\/blog\/?p=12087"},"modified":"2016-03-09T15:02:33","modified_gmt":"2016-03-09T15:02:33","slug":"how-much-will-it-cost-you-to-raise-your-child","status":"publish","type":"post","link":"https:\/\/www.kidstart.co.uk\/blog\/how-much-will-it-cost-you-to-raise-your-child\/","title":{"rendered":"How much will it cost you to raise your child?"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><strong>In 2016, the average cost of raising a child from birth to age 21 is more than\u00a0\u00a3230,000. That&#8217;s more than the average home&#8230;<\/strong><\/h2>\r\n<p style=\"text-align: justify;\"><strong>According to the 13th annual \u2018<em>Cost of a Child<\/em>\u2019 report from<a href=\"https:\/\/www.kidstart.co.uk\/partner\/lv.aspx?t=lwk\" target=\"_blank\">\u00a0LV=<\/a>, the cost of raising a child has increased by more than \u00a32,500 in the last year, and a 65% increase since 2003. In 2016\u00a0the average cost of raising a child in the UK is now \u00a3231,843.<\/strong><\/p>\r\n\r\n<ul style=\"text-align: justify;\">\r\n\t<li>\r\n<ul>\r\n\t<li><span style=\"color: #000000;\"><strong style=\"color: #000000;\">&#8211;\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/partner\/lv.aspx?t=lwk\" target=\"_blank\">LV=<\/a><\/strong><\/span>&#8216;s cost of a child report shows that\u00a0the cost of raising a child takes <strong>up more than a third of the average UK household income<\/strong>.<\/li>\r\n\t<li>&#8211; The cost of<strong> childcare and babysitting has seen the largest increase<\/strong> over last year\u00a0and now accounts for over third of the total cost of raising a child.<\/li>\r\n\t<li><strong>&#8211; Education is the biggest single cost<\/strong>, accounting for uniforms, text books, school lunches and school trips.<\/li>\r\n\t<li>&#8211; Six in ten parents\u00a0told\u00a0<span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/partner\/lv.aspx?t=lwk\" target=\"_blank\"><strong>LV=<\/strong><\/a><\/span>\u00a0that they are\u00a0<strong>struggling to manage their finances<\/strong>\u00a0and having to become more and more resourceful about how they spend and save their money.<\/li>\r\n<\/ul>\r\n<\/li>\r\n<\/ul>\r\n&nbsp;\r\n<p style=\"text-align: justify;\">We all know babies are expensive little people, but as they grow they\u00a0will start to need their own gadgets, text books, pocket money and even driving lessons&#8230;\u00a0As parents ourselves\u00a0we know how\u00a0incredibly difficult it is to save for all these. So it\u2019s really important that parents have a plan in place to protect their income and a financial safety net against any nasty surprises.<\/p>\r\n\r\n<h3 style=\"text-align: justify;\">We&#8217;ve put together some money saving tips to help you save on the cost of raising a family.<\/h3>\r\n<ul style=\"text-align: justify;\">\r\n\t<li><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-12105\" src=\"https:\/\/www.kidstart.co.uk\/blog\/wp-content\/uploads\/2016\/03\/lv2-300x200.png\" alt=\"lv2\" width=\"300\" height=\"200\" \/>&#8211; Be a savvy shopper<\/strong>\u00a0&#8211; look for deals and online coupons when doing your weekly shop. Read our top tips on how to save on your weekly food bill <strong><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/blog\/save-weekly-food-shop\/\" target=\"_blank\">here<\/a><\/span>.<\/strong><\/li>\r\n\t<li><strong>&#8211; Work out a monthly budget\u00a0<\/strong>&#8211; Write down your monthly expenses and try and save some each month for a rainy day. <strong><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"http:\/\/www.wikihow.com\/Do-a-Monthly-Budget\" target=\"_blank\">Here<\/a><\/span><\/strong>&#8216;s<span style=\"color: #000000;\"> an example <\/span>on how to do one.<\/li>\r\n\t<li><strong>&#8211; Have the right cover in place<\/strong>\u00a0&#8211; protect your family should you die or lose your income to an accident or illness. See how <span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/partner\/lv.aspx?t=lwk\" target=\"_blank\">LV= <\/a><\/span>can protect your family <strong>here<\/strong>.<\/li>\r\n\t<li><strong>&#8211; Make sure you open an account<\/strong> with <span style=\"color: #000000;\"><b><a style=\"color: #000000;\" href=\"http:\/\/www.Kidstart.co.uk\" target=\"_blank\">KidStart<\/a><\/b><\/span>\u00a0which allows you to earn money back for your children every time you shop online.<\/li>\r\n<\/ul>\r\n&nbsp;\r\n\r\nIf you&#8217;d like to know some more tips on how to save money read our recent <span style=\"color: #000000;\">articles filled with<strong>\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/blog\/tips-to-help-families-save-cash\/\" target=\"_blank\">9 easy ways to stretch your family budget <\/a><\/strong>and<a href=\"https:\/\/www.kidstart.co.uk\/blog\/tips-on-how-to-make-the-most-of-online-grocery-shopping-and-how-to-save-while-doing-your-weekly-shop\/\" target=\"_blank\"> 6 tips to save money on your weekly grocery shopping<\/a>.\u00a0 <\/span>\r\n<h3>Calculate the cost of your children<\/h3>\r\n<p style=\"text-align: justify;\">You can also use\u00a0<span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/partner\/lv.aspx?t=lwk\" target=\"_blank\"><strong>LV=<\/strong><\/a><\/span>&#8216;s\u00a0calculator to work out the cost of your child\u00a0<span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.kidstart.co.uk\/partner\/lv.aspx?t=lwk\" target=\"_blank\"><strong>here<\/strong><\/a><\/span>. Simply enter their age and it will calculate the cost of raising them until the age of 21. You can &#8216;add another child&#8217; and get the total cost of all your children.<\/p>\r\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-12113 aligncenter\" src=\"https:\/\/www.kidstart.co.uk\/blog\/wp-content\/uploads\/2015\/03\/lv4-300x260.png\" alt=\"lv4\" width=\"300\" height=\"260\" \/><\/p>\r\n\r\n<h2 style=\"text-align: justify;\"><strong>What are some of your tips for saving money as a family? Does it shock you to hear how\u00a0much children cost to raise?<\/strong><\/h2>\r\n<p style=\"text-align: justify;\"><\/p>","protected":false},"excerpt":{"rendered":"In 2016, the average cost of raising a child from birth to age 21 is more than\u00a0\u00a3230,000. That&#8217;s more than the average home&#8230; According to the 13th annual \u2018Cost of a Child\u2019 report from\u00a0LV=, the cost of raising a child has increased by more than \u00a32,500 in the last year, and a 65% increase since","protected":false},"author":1,"featured_media":12121,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3508,3349],"tags":[],"class_list":["post-12087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-household-savings","category-household-savings-advice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>How much will it cost you to raise your child? - KidStart Magazine<\/title>\r\n<meta name=\"description\" content=\"The Cost of a Child report from\u00a0LV=\u00a0states\u00a0in 2016\u00a0the average cost of raising a child in the UK is now \u00a3231,843. 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