As a parent, you more than likely understand that on top of the costs of running your business and home, the expenses that come with raising a child can make your bank account look a little sorry. From nappies and pushchairs at six months to driving lessons and University fees by the age of 18, there is no end to the costs.
But of course, we want what’s best for our kids and after all, paying for what they need is something we signed up for as parents! But wouldn’t it be interesting to discover just how much we spend each year on our children?
Well, the guys at Payplan have created a clever interactive slider that can be used to discover the costliest requirement for a child over the years – did you know, for example, babies at six months use an incredible 248 nappies a year, which amounts to a whopping £438! Also, when your child reaches the age of 11 you should be prepared to put your hand in your pocket for £316 worth of school uniform when they move up to secondary school!
Juggling these costs while managing the books of a small business might seem tough but it’s definitely doable, and might even encourage you to be a little thriftier around the home. In fact, here are a few ways you can save (and gain) money while raising a child:
• Swap the brands for supermarket own versions while shopping
• Take advantage of coupons in the summer months
• Pack your own snacks on days out of the house as a family
• Claim child maintenance if you are separated from your partner
• Mend clothes instead of buying new ones
Click here to check out the cost of raising a child over the years!