The cost of having kids - and how to save money

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Mum in a supermarket with kids_rex
Having kids is one of the great joys of life but it's also one of the most expensive. A study published in January 2009 suggests that the average cost of a child (from 0 - 21) is around £194,000 - or £9,227 a year.

And experts reckon that by the year 2012 a child will cost around £233,500. Plus if they go to university, that'll set you back an extra £34,300.

So there's no question that having children is expensive, but don't worry because we've got some great tips on how you can save money - and they won't even notice.

Where does all the money go?

The largest amount of money is spent on education (including university fees) and childcare, such as babysitters, nurseries and nannies.

And the most expensive years are from 19 - 21, costing over £39,000 per year. The average cost of a child's first year is, in comparison, only £8,853.

Continued below...

Childcare - £53,818
Education - £50,240 (£34,300 on university fees, £15,940 on state education)
Food - £18,386
Holidays - £13,359
Clothing - £12,650
Hobbies and toys - £9,822
Babysitters - £9,523
Day trips, school trips, social clubs and groups - £7,062
Pocket money - £4,144
Furniture - £2,253
Other (extra expenses, birthday and Christmas presents, driving lessons, first car)- £11,661

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