LV: Cost of raising a child reaches £200,000
www.moneynews.co.uk > General finance > LV: Cost of raising a child reaches £200,000
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LV: Cost of raising a child reaches £200,000
Tue 23rd Feb 2010
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Research by the insurance and investment group found that the cost of bringing up a child has increased by four per cent in the last year and now stands at £201,000, which equates to £9,610 a year, or £26 a day.
But even children have been feeling the pinch during the recession, with 13 per cent of parents reporting that their children have asked for less pocket money.
Mike Rogers, LV group chief executive, said: "I suspect many new and prospective mums and dads will be a little shocked to see the potential financial burden ahead of them."
For parents looking to keep some of their earnings for themselves, LV has launched a new Protected Retirement Plan, which offers a fixed income over a set period of time to policyholders.
Click here for more general finance news
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Related News : LV= |
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