Case Study 1

Additional Family Member

What we can do…

Factoring in the scenario of having another child, this family sees a shortfall specifically during the years that this child enters sec- ondary school and university. This further im- pacts the parents’ disposable income later in life.

Did you know?

  • The cost of raising a child until they are 21 has risen to £222,458 on average. That is a 4% increase from last year, and a 58% rise from 2003.
  • The biggest expenses are education and childcare. The former can rise up to £72,832 – this includes the new Uni- versity fees, but does not account for private schooling. The additional cost for private day-schooling comes in on average at around £106,428.
  • The latter can amount to up to £63,738 which is a 61% rise.

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