How much do kids cost? – plus 5 tips to help lighten the load

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Children might be priceless, but sadly not literally. We break down the average cost of having kids and share five tips to help lighten the load.

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

14 August 2023

Couples with kids spend over £5,000 a year more than couples who don't. This adds up to more than £96,000 over 18 years. And, parents reading this will know that spending doesn't miraculously stop once they turn 18.

Even boiling it down to the absolute essentials, couples with kids spend almost a fifth more than those without (£2,266 a month vs £1,923). Meanwhile, single parents spend over a quarter more than singles without (£1,428 vs £1,150).

This obviously has a knock-on effect to our financial resilience. It means we're less likely to have as much cash at the end of the month. It's no wonder that, monthly, a couple with kids has an average of £227 left after paying the bills, while a couple without has £261. A single person living alone