Babies are considered as a gift from God and as a bundle of joy. As well as bringing immense happiness and new experiences into your life, it also burns a big hole into your pockets. New surveys have suggested that parents spend an average of £35,000 on their kids by the time they are five years old. This includes £5,000 on babysitting or child-minding.
The survey revealed that children in London cost their parents the most; they cost about £10,000 a year, where as the average cost across Britain is said to be £7,000 a year. The cost includes the basics, such as nappies and clothes, as well as toys, games, days out and activities and also including sports and music classes. Classes such as Ballet lessons are costing parents about £40 per month.
