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Last Updated: Friday, 25 November 2005, 00:01 GMT
Raising a child 'costs 166,000'
Baby in a cot
The cost of bringing up a child is rising sharply
It costs on average 166,000 to raise a child from birth until age 21, according to Liverpool Victoria friendly society.

The total cost, equivalent to 22 a day, has increased by 8% during the past year, the group said.

Overall, the cost of bringing up a child is only marginally below the price of an average house.

Childcare was the biggest expense, costing parents on average 46,000 per child.

Education expense

This is the third year that Liverpool Victoria has calculated the costs of bringing up a child.

Each year the group has found costs rising far faster than both prices and wages.

This can be partly attributed to the rising costs of education.

Education is a major expense, with parents spending 37,142 on average.

Most of this expense occurs when the child goes to university. On average putting a child through university costs parents 25,572.

Unsurprisingly, the group found that London was the costliest place to bring up a child, with parents forking out 176,449 on average.

At the other end of the scale, the West Midlands and Scotland were the cheapest places to bring up children.




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