Daughters cost thousands of pounds more to raise than sons
From birth to aged 5, it costs around £300 a year more to raise a girl and around £400 a year more between the ages of 6 and 13.
Between 14 and 18, the figure jumps to £600 more a year, the research by Sainsbury’s Bank found.
The reasons for this vary, the report said, but one suggestion is girls’ clothing is more expensive than boys.
The poll of 2,000 people with children under 25 also found that parents spend on average 21% of their monthly household income on items for their kids.
It also highlighted the depreciating cost of having more children with 75% of parents with more than one child saying it’s more expensive to raise their first child than their subsequent children.
These findings align with Sainsbury’s Bank analysis of government data revealing that the ‘cost per head’ of each family member decreases with each subsequent child.
The average one-child family spends £621 per week – 17% – more than the average UK household. And while costs continue to increase with subsequent childrenthe ‘cost per head’ of each family member starts to decrease after the first child; by £29 per head for a two-adult, two-child family, and by £31 per head for a two-adult, three or more child family.
Simon Ranson, head of banking at Sainsbury’s Bank, said: “Families can be expensive, but it’s no surprise that the first child comes with the largest price tag. There’s a lot that families can do to keep these costs down, for example reusing items such as prams and toys for subsequent children. And of course, fixed costs such as accommodation and utilities – as well as the cost of food – don’t always change significantly when there’s more than one small person in the house. Many people say it’s as cheap to cook for two as for one.”
The survey showed that parents recycle 40% of childhood items such as toys, prams and cots.