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Are you thinking of starting a family? Or adding to your brood? It can be easy to forget about the financial implications of taking care of a child, but according to charity, CPAG, the average cost for a family raising a child in the UK is a staggering £75,4361

Although you can’t put a price on the joy a child can bring, there are lots of additional costs to consider from childcare and clothing to your household bills.

We’ve compiled some of the costs of raising a child to make sure you’re financially prepared for the next step. 


To prepare for the baby’s arrival there will be a range of products to buy. From a pram, cot, and car seat, and don’t forget about decorating the nursery too! The initial outlay can cost anywhere between £500 to £3,000 depending on the brands and products you choose. Consider purchasing second hand items from charity shops or a local marketplace – some items are barely used for any time at all. Just make sure anything you buy is cleaned before use.

Once your bundle of joy arrives there will be regular spending on things like nappies, wet-wipes, baby formula and clothes. These will all add to your weekly and monthly grocery bills. Look out for special baby events at your local supermarkets throughout the year. These usually offer discounts on baby and infant products for new parents.


If you’re a working parent you’ll need to think about childcare. Sometimes family or friends are on hand for babysitting, but if you’ll be sending your little ones to nursery there will be costs to consider.

The time spent in nursery or daycare can impact the average cost of childcare, which ranges from £131 to £252 per week2

The government does offer financial support to working families, providing £2,000 per child each year towards childcare with Tax-Free Childcare, so check to see if you qualify.

Take advantage of our online features by creating a savings wallet and dedicating a percentage of your monthly income to childcare to keep you on track.

Household bills

With an extra person around your household bills will increase. Your washing machine and dishwasher will be in regular use along with electrical items, like tablets and TVs. Consider checking your bills on comparison sites to see if you can get a better deal with another provider. You should also set a household budget to stick to every month to help bring that spending under control.

Hobbies & interests

From music and swimming lessons to gymnastic and football clubs, there are always new hobbies and interests for children to try out. Many will require an additional fee as well as the purchase of equipment or uniforms. If you have more than one child then saving old uniforms or equipment could save you money in the long-run.

Teaching kids about money as they get older can also include encouraging them to use their own savings towards interests and hobbies such as music books or equipment.


Research has found that the average cost of clothing for a child per year is around £5003. This can eat away at your monthly household budget, especially when an unexpected growth spurt strikes. If you have more than one child, saving clothes for siblings to grow into or shopping at charity shops or in the sales can really help keep costs down.

Take a look at the cashback offers available from our reward partners, which can help you save money at high street retailers including Clarks and New Look, perfect for keeping the kids’ kitted out with new clothes.

There are always situations when additional money can come in handy. Enjoying days out with the family during school holidays or treating them to a special birthday or Christmas present they’ve been pestering you about for months. Try a money saving challenge to help you budget for any unexpected expenses.


Do you need support when it comes to saving and budgeting your money? Sign up for a Vox Money account today!







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