Not to purchase obviously.
From birth to say, leaving 6th form.
Average, ball park-ish figure?
Quarter million probably.
Think what you could do with that money.
And that's not counting the time.
250k? No chance.
Well, you don’t get many to the pound.
X2, my wallet has literally bled this Christmas. However I've had a good year so as they're my favourite people (sometimes) other than mrsws on earth then so should they.
250k? No chance.
Does that mean less or more?
I'll tell you this year, as eldest is about to finish 6th form.
Two more to pay off yet though.
And there's uni/College...
£5k a month
Children in India and Africa can be bought for only $25-$40.
It's a cruel, sick world and it's never been cheaper.
I just need an average figure to put my son & his Mrs off having any.
They aren't on great money.
They have a mortgage.
They LOVE holidays abroad, so have to save like heck to pay for them (American road trip stylee holidays)
They have a great social life/loads of friends.
Theyr'e always being invited to various parties/do's.
The MIL (my lads MIL) 'Can't wait to be a Grandma'
The pressures on.
250k? No chance.
That's not far off £14000 per year. No chance for the average couple.
Always used to be quoted at £250k with childcare and uni iirc.
If you looked at it economically you'd never have any.
They are the best thing I've ever done.
The NatWest calculator is fascinating. Some big assumptions (childcare costs the same whether 4 or 17).
However, I think it's broadly ok if you chuck in a few figures.
Looks like mine cost me £110/120k each.
those ridiculous figures you get quoted every now and then include the likes of what it would cost if you didnt do the school run and you paid someone to do it, a tutor to help them with homework and other rubbish.
Greenest thing they can do is not have any
Greenest thing they can do is not have any
This is the way I'm trying to steer them Houns. Trouble is that MIL thinks having kids is a given. In my day 35 years ago it maybe was.
Apparently 150k for a couple and 183k for a single parent.
research thingy
Downside for you is it seems to be dropping so you might want to hide that bit.
I just need an average figure to put my son & his Mrs off having any.
Good job your grandad didn’t ask people for the same advice all those years ago eh 😂
Live and let live I say.
Greenest thing they can do is not have any
Surely offing themselves, their immediate families and all friends would be a greener solution?
Where do these figures come from by the way? I have two kids, one wage and won’t earn 500k in the number of years quoted. Oddly both kids are happy, healthy and well looked after. Where have I gone wrong?
Good job your grandad didn’t ask people for the same advice all those years ago eh
IMO the world has changed somewhat since 1915 when my Grandad was around. (well up until Dec 19th 1915 that is)
Don't forget the cost to the tax payer for all the healthcare they'll get for free...
They have a great social life/loads of friends.
Theyr’e always being invited to various parties/do’s
That will all go out the window once kids arrive so they'll save some money there for starters!!
I'm sure my daughter hasn't cost us anywhere near this much (yet!!) but I reckon if you said £100 a week, which is around 5k a year so 90 grand over 18 years you wouldn't be far off for the average family but I reckon lots of family's will raise a child on a lot less than that.
I suppose if you start talking private schools and buying them a pony etc you can easily get to silly figures like 250k.
I think my 2 boys eat nearly £100 a week and they are 3.5 and 1.5!
nursery is 1k per month plus lost earnings.
definitely not some thing you do for economi benefit
I just need an average figure to put my son & his Mrs off having any.
They aren’t on great money.
They have a mortgage.
They LOVE holidays abroad, so have to save like heck to pay for them (American road trip stylee holidays)
They have a great social life/loads of friends.
Theyr’e always being invited to various parties/do’s.’
If they are not earning loads they will get child benefit and potentially child tax credits. That won’t pay for anything like the cost but worth understanding. Perhaps if Granny is so keen she is going to help too!
At the end of the day rational arguments won’t matter you are fighting hormones and evolution - if they want to have babies money isn’t going to stop them. In fact the holidays, social lives, etc will be bigger factors. But once their peers start doing it they are either going to see it as hell or just confirming.
You’d like to think that they had these conversations before getting married. IME millennials are shite with money, spoiled and have stupid expectations for life - I blame the parents!
I think its about £120k from birth to leaving university, based on having 4 kids. I am sure this varies but a £100 a week seems about right.
We probably did it on the cheap (economies of scale) so factoring in buy 3 get one free? Over a time scale of 30 years = £360k/30 = £12k per annum feels about right.
So getting very miserable - gross income per annum for me would be about £16k x 30 years = £480k or £120k per child.
****....
So if you want a number to chuck at them then £6k per annum + child care cost is probably a fair shout
I’m trying to steer them
You sound far more of a nightmare parent/inlaw than the broody mother in law
They're adults let them decide for themselves. As I assume you did?
£250K? I'd pay double that for each of mine.... dont think you can put a price on it...
When i found out we were having our 1st I did the cost of raising a child research and was nearly sick. I now have 3 and love every minute. I used to do long haul holidays throw big parties etc but i cannot now and i dont care. Im lucky if i can get up at 6am on a sunday to got for a quick ride!
Surely it would be better for them to raise children in an environmentally aware way if that is your concern rather than not having them.
Imagine if they followed your advice then regretted it? Would they resent you for that 'pressure' you placed on them?
Kids are expensive but it’s not as if pchildless people I know are rolling in it. They might go on posher holidays, have slightly nicer or younger cars, but people always find things to spend their money on and live to their, or beyond means. A lot have child substitutes like dogs, that can still be expensive and more restrictive than kids.
If your trying to justify having children by counting the cost of the material items your going to miss out on, you don’t deserve to have children.
Children are human beings to be loved and cared for, not an object of regretful dissatisfaction to be regarded as a blocker to a holiday in Thailand.
It’s one thing to carefully consider that you can afford to take care of them, quite another to be so emotionally selfish to sneer at the thought of loving another human being for the sake of money. If your even thinking of the latter, please don’t have kids, go and enjoy yourself until you’ve seen past the material desire. Nothing wrong with that, just make the choice that doesn’t lead to living a life pushing your regret onto a small child*
*Notwithstanding I’ve seen many people change instantly when that baby arrives...
Depends where you go...the local Vue cinema is apparently the most expensive for tickets in Scotland/UK and they are about 8 quid, the 'local' Cineworld, they are a fiver.
Bus fares aren't quite a half of full price either.
So depending on where you are going, they might cost half of an adult...or not.
If your trying to justify having children by counting the cost of the material items your going to miss out on, you don’t deserve to have children.
Children are human beings to be loved and cared for, not an object of regretful dissatisfaction to be regarded as a blocker to a holiday in Thailand.
I think this is the op’s point, not something he needs telling
It seems he’s concerned that the prospective parents might resent the change in their lives/fail to cope financially and not do right by their future kids.
He *might* be right.
I don’t think so, however. Kids are great. In my experience they cost all the moneys. However much, the kids cost it all. And they’re still great.
The lack of sleep isn’t. And they change your life, utterly (if they don’t then you’re doing it wrong imo).
But don’t tell the op he doesn’t deserve kids in the judgmental way.
Apologies - “deserve” was the wrong word. I’m trying to agree with him not argue the point. People are welcome to do whatever they want, it would pain me though to hear someone speaking of thier children as a resentments.
I overheard a guy in our office doing exactly that a few years ago, in a “ the little shit means we can’t have a house in Hertfordshire that I want, and now I can’t afford to keep a Porche” I had to hold myself back from clocking him one. Sorry to be so opinionated, but I come from a background where the luck I have to have two children in a family situation is a strong emotional driver for me.
Methinks the OP is using the worry of his sons finances as an aside, the real concern is that OP doesn't want grandkids, given previous posting history? 🙂
Have you considered second hand?
I could do a decent price on a surly 13 year old. New owner must have wi-fi and a tolerance for cheeky back-chat.
It's not cheap. Nappies are the biggest huge expense when one arrives. But the nightlife etc will be gone.
Mine are now 15 and 18.
Meddling parent (soon to be grand parents), leave 'em to it. Their lives, their choices. Just be generous with your time and money if they need help.
In answer to the original question, not much in cash, say 90k to now at 21 with another 30k or so till he finishes his education.
In terms of opportunity cost I gave up work and never felt the need to work again, so whatever I would have earned minus tax. Say 400k.
Kryton: in that case we all agree with each other! 👍
Watching my sister with her newborn reminds me of the life change!
significantly more than condoms appears to be the consensus 😉
Children are priceless.
(That's what I tell myself when I pay the £1100 a month childcare for my two! 🙂 )
Childcare is entirely postcode dependant, Most I've ever been was £100 a month in childcare vouchers. Edinburgh is a different beast altogether, it's the one advantage of living in a high poverty area.
Don’t forget the cost to the tax payer for all the healthcare they’ll get for free…
But who will pay for all the miserable old bastards to have a pension, NHS, bus pass etc?
Don’t forget the cost to the tax payer for all the healthcare they’ll get for free…
What, people with kids don't pay taxes? Parents are in the main tax payers. My tax bill is far bigger than it'd cost for them to be Private...
