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Starting a family is a big decision for everyone – both emotionally and financially. Having children is one of the most significant financial events in your life.

In fact, the average cost of raising a child to the age of 21 is £229,251, an increase of 65% since 2003.

Cost of raising a child is £10,917 per year, £910 per month and £30 per day on average

Obviously the joy and happiness a baby brings far outweighs the financial costs, but planning ahead could make a big difference to the total cost and how much tax you pay along the way. We hope our guide to parenting helps prepare you for parenthood. Well, the financial side at least!

What’s covered in the guide

 

Thinking about having a family Thinking about having a family – time to plan your income and think about your mortgage

You’re expecting   You’re expecting – some early planning could save you a lot of tax

design  They’re here, congratulations – helping you sleep better at night (even if the little one doesn’t)

They’re growing  They’re growing  – how to keep up

Resources   Resources – some things that might help

 

 

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