Buying a house or having a baby? When raising a child is a luxury
According to the latest data of the association Federconsumatori, raising a child from 0 to 18 years old costs 173,560 euros on average with an increasing of 10% in 5 years for the expenditure, that is heavier for lower middle incomes.
From an economic point of view, choosing to raise a child today is equal to buying a house, or even a detached house, because a small heir costs the parents from a minimum of 117,400 euro to a maximum of 300,000 euro. And this only limiting the costs on the threshold of majority, a lot sooner than the possible choice of University. The Federconsumatori National Observatory presents it in the fourth edition of the report “How much does it cost to raise a child from 0 to 18 years old” that has just been published.
From the inquiry, it came to light that the costs are very different in relation to the income that a family owns: for a biparental family with an annual income of 34,000 euro raising a child till they are 18, costs 173,560 euro. For a family who has an annual income of 22,500 euro the cost increases to 117,400 euro on average, whereas the expenditure increases to 288,600 euro for the families who have an annual income over 70,000 euro. “Having a baby risks becoming a luxury for few people”, said the Federconsumatori President Emilio Viafora, commenting the results of the inquiry, especially if you compare them with the trend of income.
The expenditure to raise children in the period 2013-2018 (the data to which the inquiry refers) increased from 9% to 11% for everybody, with important differences between management and executives who saw their incomes increasing of 9% and 16% respectively, instead of the 6% for labourers, the 2% for employees, and the -1% for professionals. In this way you discover that if a family that belongs to the middle class spends 2600 euro every month to survive (1000 euro only to support teenagers), more than the 50% of the families balance their books with expenses that are less than 2000 euro a month.
And those that think that the expensive costs of nursery school, babysitter, nuppies, strollers and others tools from the very first years of life are high (from a minimum of 7,000 euro to a maximum of 15,000 euro when the child is in the period 0-12 months), excluding christening party and birthday parties, according to another inquiry of the Federconsumatori Observatory), can be sure that the expenditure does not decrease, on the contrary it increases considerably, starting with the costs for nutrition (almost 2,000 euro also considering the food stamps of the canteen in the school), transport and communication (almost 1,800 euro pro year), education and health (among specialist visits and expenditures that are not paid by the Health Service, starting with the dentist’s). Even if the first expenditure is always the home (more than 3,000 euro for every child), considering rent, mortgage, bills, furniture, household appliances. In the end, for a family with an income of 34,000 euro the expenditure for the child is 11,551 euro in the year, as the chart says.
Home: 3,343,00 euro
Nutrition: 1,904,00 euro
Transport&Communications: 1,815,00 euro
Clothing: 899 euro
Healthcare: 633 euro
Education&Health: 1,526.00 euro
Other: 1,431.00 euro
Yearly total amount:11,551.00 euro
Monthly expenditure: 962.58 euro
Pay attention: in the last entry “ Other Expenditures” sportive activities, leisure activities, culture activities, personal cure, professional fees, holiday and free-time are included.