The cost of raising a child to age - PowerPoint PPT Presentation

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The cost of raising a child to age

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When considering short term loans, the good news is that there are lots of different repayment options which are available. Over the years short term loans have become increasingly more flexible which means that should you require one, the options available for repayment are varied thanks to a good selection of different terms. – PowerPoint PPT presentation

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Title: The cost of raising a child to age


1
The cost of raising a child to age 21 !!!
2
the total cost of raising a child in the UK !!!
  • The reality is that many new parents are somewhat
    unaware of the total cost of raising a child in
    the UK. In fact the cost per child in our current
    economy is a figure which continues to increase
    year on year and is now more than the average
    price of a UK house

3
health care costs in the UK !!!
  • to raise a child to the age of 21 with the
    increasing health care costs in the UK, will cost
    a total of a quarter of a million over the 21
    year period. This compares to the average house
    price in the UK of 196,000.00 effective January
    2016.

4
Economics and Business Research !!!
  • The Centre for Economics and Business Research
    and insurer LV conducted research into UK
    households and discovered that households spend
    around 38 percent of their total incomes on
    raising a child. It was also discovered during
    this research that across the country the cost of
    childcare increased by 4.3 percent in the last
    year payday loan lenders

5
the cost of childcare!!!
  • It was also discovered during this research that
    across the country the cost of childcare
    increased by 4.3 percent in the last year,
    further demonstrating how the costs of raising a
    child continues to increase year on year.

6
Depend on family base !!!
  • the cost of raising a child does vary depending
    on where in the UK your family is based. In
    Yorkshire the cost, up to the age of 21 once
    again, comes in at 214,000.00 which is
    considerably lower than that of London which
    currently sits at 253,000.00.

7
costs linked to private education !!!
  • For most parents the biggest cost resides in the
    education element of raising a child. Excluding
    costs linked to private education, the average
    cost of education up to the age of 21 is
    74,000.00. For those who choose or have access
    to private education, this figure can expect to
    be doubled,

8
University based fees !!!
  • whilst in education but are of course accounting
    for University based fees also. The costs linked
    to education are clearly one of the largest costs
    faced by parents but this is closely followed by
    the cost of childcare and babysitting with direct
    lenders.

9
aspect of childcare !!!
  • Many parents have expressed how the aspect of
    childcare can be the most time consuming and
    sometimes stressful. Given that advanced planning
    is required, often on a weekly basis, the
    exercise of getting a child to and from childcare
    has been said to be troublesome and often
    difficult to do.

10
childcare centers and childminders charge !!!
  • Many UK based childcare center and childminders
    charge for their services on a weekly basis,
    given how circumstances can and do change. This
    means UK parents have to account for the weekly
    cost of childcare in advance and in a prepared
    manner.

11
the cost of childcare for the factor of illness
!!!
  • By accounting for the factor of illness the cost
    of childcare can therefore be increased
    periodically. Again the increased cost will
    depend of region and circumstance as well as
    period of illness and which parent is required to
    potentially take time off work.

12
food costs !!!
  • Perhaps one of the most shocking statistics in
    terms of cost for raising a child up to the age
    of 21 is that of food costs. Keeping a child
    properly fed and watered up to the age of 21 will
    cost on average 19,000.00 this being the same
    cost of a well-equipped new car.

13
help and support of government !!!
  • it is important to also recognise that these
    costs are being spread over a 21 year period and
    can be managed with the help and support of
    government based schemes and incentives along the
    way. Conducting research and remaining up to date
    with such support forms a vital step in the
    upbringing of a child in UK today.

14
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