According to recent data we spend as much as £20,000 every year on our children.
The cost of childcare has soared by 27% in the past five years, according to shock new research. The survey from national childcare charity the Daycare Trust found that since 2000 the cost of looking after our children has outstripped inflation by nearly 20%. Parents in the UK end up paying around 75% of childcare costs, compared to those in Europe who pay about 30%.
New parents face a big financial shock when they realise something so small can cost so much. According to American Express, decking out the nursery costs about £410, a car seat costs around £79, while a pram will set you back about £233. And that’s only the start of the expense. In the first year of a baby’s life, we spend about £380 on baby skincare products; add to that £50 a month for formula milk and £360 on baby food. Maternity wear, baby clothes, nappies and other miscellaneous costs can mean parents fork out more than £7,000 before their little one is one.
Financial services company Liverpool Victoria, reckons parents spend around £165,668 on bringing up each of their children about the cost of a UK house or £22 a day until your child reaches 21.
As parents we certainly know it is expensive but let us never forget that children are a wonderful gift from God.
Psalm 127:3 "Lo, children are an heritage of the Lord: and the fruit of the womb is his reward"
When the Egyptian midwives spared the Hebrew children in Exodus they were rewarded by God with children. Children were seen as a real blessing.
Exodus 1:21 "And it came to pass, because the midwives feared God, that he made them houses"
Perhaps much of the expense with bringing up children is caused by our desire to give the children everything they want. We don’t want them to miss out on anything. The greatest thing we can give our children is the knowledge of God’s salvation.
Proverbs 22:6 "Train up a child in the way he should go: and when he is old, he will not depart from it"
The greatest blessing is to know that our children have trusted Christ as their saviour. What a great thing it is to be able to say to our children the words of the next verse of scripture.
2 Timothy 3:15 "And that from a child thou hast known the holy scriptures, which are able to make thee wise unto salvation through faith which is in Christ Jesus"
Are you SURE that you have your place booked in Heaven? Read this if you're not!