Financing a familyThe true cost of raising a child

For many people, starting a family is an important life stage - but just how much does raising a child cost? True Potential Investor's calculator will help you establish the real cost of financing a family, allowing you to better prepare for your future responsibilities


Let's get started...

How many children do you plan on having?

BABY0-12 MONTHS

Do you plan on attending any activity classes with your baby?

E.g. sensory or swimming classes.

Will you breast or bottle-feed your baby?

General Costs
(per year)

Nappies £260
Clothing £480
Nursery Furniture £500
Pram £300
Toys £540
TOTAL £2,080

toddler1-3 years

How many days per week childcare will you require?

General Costs
(for 3 years)

Nappies £1,248
Clothing £984
Toddler Furniture £660
Food £2,080
Toys £900
TOTAL £5,872

CHILD4-12 YEARS

Do you plan on sending your child to private school?

How much pocket money do you plan on giving your child each week?

General Costs
(for 9 years)

Clothing £8,640
Food £23,400
Toys £3,240
Childcare £70,668
TOTAL £105,948

TEEN13-18 YEARS

How much pocket money do you plan on giving your child each week?

Will you pay for their driving lessons?

Will you buy your child’s first car?

Will you pay for their car insurance?

Will you pay for their university tuition?

General Costs
(for 5 years)

Clothing £7,200
Food £15,600
Transport £3,000
TOTAL £25,800

SPECIAL OCCASIONS

How many family holidays would you like to take per year?

On average, how much do you plan on spending on each child's birthday?

Baby (0-12 Months)

Toddler (1-3 Years)

Child (4-12 Years)

Teen (13-18 Years)

On average, how much do you plan on spending on each Christmas?

Baby (0-12 Months)

Toddler (1-3 Years)

Child (4-12 Years)

Teen (13-18 Years)

Result

You could be spending around:

£X,XXX when they're babies
£X,XXX when they're toddlers
£X,XXX when they're children
£X,XXX when they're teens
Based on the information you gave us, raising a family could cost you around
£*
That's an average of: per month

Expensive, right? Prepare for parenthood and start investing in your future with True Potential Investor's:

With investing, your capital is at risk. Investments can fluctuate in value and you may get back less than you invest.


* This amount is an indication only and not personal financial advice.