Budgets


While putting together a budget for this year, and thinking about how much we can afford for a new mortgage, I had a look for the cost of a child in the first year. I found a couple of interesting sites, which those reading this blog who are about to have kids, or still yet to have them, might find useful.

The first is a survey by the Liverpool Victoria about the cost of bringing up children to 21. Apparently this is increasing faster than house prices.

The second is a bunch of calculators provided by the Financial Services Authority. It includes a very fullsome page for calculating a budget before and after having a baby. The suggest cost only adds up to around £2200, whereas the Liverpool Victoria cost for the first year is around £7800. That’s a lot of difference!

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