In the Garden of Eden, God said to Adam and Eve, ‘Be fruitful and multiply.’ Not long after, the first children Cain and Abel were born and babies have been born ever since.

The eagle-eyed amongst you may have noticed that my hiatus coincided with the birth of my second child and first daughter Amira.

Undeniably, my wife Tola has been the heroine of this particular story during our daughter’s first year in this world, however the whole experience so far has made me wonder, ‘How much does it cost to raise a child?’

Little angel or money vacuum?

According to the Child Poverty Action Group, the cost of raising a child (excluding housing, childcare and council tax) from birth to 18 is now:

  • £160,692 for a couple family
  • £193,801 for a single parent/guardian

The above figures are considerable sums and clearly this will fluctuate greatly depending on your socio-economic status and how much you choose to provide for your child(ren).

The numbers provide a valuable high-level view of the situation but for a perspective closer to home, I consulted the fantastic and informative charity 10 Fingers UK, which provides practical support to first time mums. Founder of the organisation Victoria Adepoju said things to consider when looking at the cost of raising a child was the following:

Practical things on a monthly basis, i.e., nappies (a.k.a diapers), baby formula, toiletries, clothes (which they grow out of so quickly ☹☹).

As they get a bit older, childcare costs become a major factor and depending on where you live this can go up to £1,500 per month but could still be potentially higher.

Extra-curricular activities, baby groups and as they get older, sports/music/arts are all additional costs to take in to consideration.

An important but often forgotten aspect is the non-financial costs of raising children. These include but are not limited to:

  • Sleep!
  • Previous lifestyle
  • Friends
  • Career progression
  • Strain on relationships
  • Relationship with God as a Christian

What can we do prepare?

A recurring theme I hope that you see in my guidance, financial and otherwise, is that preparation is key. Following some of the tips below will help manage the cost of transitioning into parenthood:

Budget

We have spoken previously about the importance of budgeting and when kids come into the picture, it becomes even more vital. You could be looking at a perfect storm of reduced income while one partner is on maternity leave AND the increased costs that come with a baby, therefore diligent bean-counting becomes a necessity.

Saving

Saving pre and post baby is also a very sensible move. Before the baby is born, building up a war chest will reduce the strain of finding money to meet the expected costs of upcoming child. After the child is born it worth considering opening a Junior ISA for your baby and investing for the long term for university costs, a car or even a house deposit.

Ask for Help

It can be very challenging as a couple to raise children and so those who are single parents doing it by themselves, have my complete and total respect. If you have a support network to help you out then please utilise this.

My mum has been a complete Godsend when it comes to helping out with our kids and I shudder to think how we would have coped without her. Thank you Mummy! 😊 In addition, my siblings over here and in-laws in the US have taken care of Max and Amira countless times, giving us a well-earned break and saving us a lot of money on childcare!

Additionally, our baby cot, bedside crib and countless other items have come from friends and family who were generous enough to let us have them once they no longer needed it. Likewise, we have kept the circle of love going by passing on baby items that we no longer needed to new parents.

Finally make sure that you claim all the help that you are entitled to from the Government. This includes child benefit, tax-free childcare support and potentially even more support if you are classed as having a low income. More information can be found here: https://www.moneyhelper.org.uk/en/family-and-care/becoming-a-parent/help-with-childcare-costs

Final Thoughts

Those without kids yet – I hope I haven’t put you off! You might read all of the above and think, ‘Not for me, Clive. It’s not worth the hassle.’ However, even though parenthood can be tough, it is a hugely rewarding experience. I can list hundreds of reasons why but a few that come to mind are

  • This year was the first birthday that my son said ‘Happy birthday, I love you Daddy!’
  • My nine-month-old daughter crawls at lightning speed to my feet and asks me to carry her whenever I come in to the house.
  • Watching Max and Amira play with toys together (despite the odd awkward conversations around sharing!)

I could go on but you get the point. I’ll end with Psalm 127:3-5 (NLT) which says:

‘Children are a gift from the Lord; they are a reward from him.  Children born to a young man are like arrows in a warrior’s hands. How joyful is the man whose quiver is full of them! He will not be put to shame when he confronts his accusers at the city gates.’

God bless

Ten Talents