Even Before Your Child is Born Perspective Parents Are Parting With Their Money
What Are Pre-Birth Costs?
Having children is a selfless act, and one that many parents plan for, and are so happy to welcome their little offspring into the world.
However, there is an old saying, if you wait and save for when you can afford children, you’ll never have them.
No amount of saving and planning can prepare you for what changes you are going to be facing and experiencing.
We spend a lot of money in our lifetimes, and one of the largest, and ongoing expenses will be having children.
A few years back it was estimated we will spend £250,000 n our children raising them from birth to age 18.
This includes nappies, food, clothing, child minding/day care, etc, it is a long and never ending list.
The Managing Director at insurer LV, Myles Rix stated, “Having children has never been more expensive and, with costs such as childcare and education continuing to rise, for many families across the UK this is set to remain a pressure point.”
“No parent wants their child to go without and given a significant chunk of a family’s income is spent on children, it is important that parents take steps to secure their household’s financial future.”
As stated, having a child is a selfless act, financially.
And we have it good here in the UK with our old friend the NHS. All the pre-pregnancy, maternity costs, and medical follow-ups for our children is part of our social medical care.
In America, you can add an additional $10,000 to $30,000 right up front just to have a baby!
Yes, there are health insurance plans to cover much of this, but just ask anyone who live in America how much out of pocket it cost them just for medical and maternity costs for their children. Easily hundreds to thousands of dollars each year.
However, in these times we live in, future parents are splashing out, and costing their friends and family money, due to what is termed, “pre-birth” costs, such as gender parties and showers.
If you are getting married you need a bridal shower, a stag or hen party. Having a baby, a baby shower.
And now, “gender revel parties”.
It is said that for these parties future parents are spending on average £700, and those invited are spending around £60 each.
This just to have a celebration regarding the unborn child’s gender.
I wonder if more is spend on boy’s parties than girl’s, with the gender pay difference thing going on:)
The Founder of NeeNoo, Amisha Modysolely stated, “Hosting a gender reveal party is a relatively new concept in the UK but is quickly gaining traction and is one example of the growing trend of publicly sharing every step of the parenting journey.”
“Getting ready to welcome a new baby is an exciting but expensive time. On average the cost of a baby is £7,200 in the first year alone.”
“Whilst gifts are not required when attending these celebrations, they are always welcomed and appreciated.”
Once again having children is a financial selfless act, and it begins before the child is even born.