Parenthood is one of life’s most rewarding experiences.
But unfortunately, it’s also one of the most costly, and comes with a hefty price tag parents don’t always see coming. It’s estimated that the cost of raising a single child to the age of 21 can be up to £230,000 – this figure includes predictable expenses like food, childcare and clothing. But there are countless other costs many families don’t factor in.
Private institutions are pricey enough.
But even state schools come with many hidden expenses that quickly rack up.
From packed lunches (or school dinners) to charity chip-ins for non-uniform days and bake sales, plus dreaded school trips that can cost up to three figures, school life doesn’t come cheap.
When your child develops a hobby, it’s only natural to want to nurture their ambitions.
But whether it’s drama class, music lessons or sports groups, these sessions can be alarmingly expensive. Knowing where to look is crucial – some students can get cheaper music lessons through their school. Meanwhile, you don’t necessarily need to fork out for costly acting classes. Many amateur dramatics groups provide just as nourishing an experience for children, often with a lot less pressure.
Some children require extra support in their school career, and though private tutoring can be costly, Tutor Compare is a great service that helps you price up the best options for your child’s needs.
We’re lucky in the UK to have a fantastic NHS that provide many treatments free at the point of use.
But there are some services that aren’t available on the NHS – for instance, up to one-third of children need braces at some point in their teens, but an unlucky few are not able to claim the service for free. For these, a cost-effective orthodontist such as City Centre Dentist & Implant Clinic can be a major help.
It’s worth noting that most procedures are free on the NHS, so it’s rare you’ll have to worry about this, but it can happen, so it’s good to be mindful of.
If your child takes a day off sick or has an appointment, you may need to take time out of work to tend to their needs.
If you’re lucky enough to be able to work from home, this may not be a problem. But for those who are unable to do so, your income may take an unexpected hit if you can’t recoup those hours.
Your child having an active social life is great for their development and wellbeing… but not so good for your wallet.
Days out, trips to the cinema and countless other activities cost money, and it falls to the bank of Mum and Dad to pay up!
Thankfully, the sleepover never goes out of fashion. Popcorn and Disney Plus, easy night in!
These are just some hidden costs of parenthood, but if you’ve got children of your own, they probably don’t come as a shock!
What hidden costs have you discovered as a parent? Let me know in the comments below.