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Cost of raising a child

How much does it cost to raise a child?

By Mehdi Punjwani

Published: 12 March 2020

You might not be able to put a price on family, but you can see how much they’ll cost you. New MoneySuperMarket research reveals the hefty costs of raising a child and how much more parents will pay for their daughter than their son.

The total figures come to £79,176 to raise a boy and £108,884 for a girl, a difference of £29,708. To put that in perspective, a full-price university degree costs £27,750, and a dog costs only £18,700.

Our infographic breaks down the price differences between genders from birth through to the age of 18, highlighting some of the more significant life events and what they cost.

Is it more expensive to raise a boy or girls?

Compare life insurance quotes

Comparing life insurance quotes can help you find the right policy for you at the right price. You can use MoneySuperMarket’s life insurance comparison tool to compare both single and joint life insurance quotes.

All you do is answer a few questions about you, your health and lifestyle, and the amount of cover you need.  You can then choose whether you want to take out level term or decreasing term cover.

Some prices will be guaranteed and fully underwritten which means you can buy immediately. Others will ask you to confirm certain details with the insurer.

If you want to add critical illness cover to see how this affects the cost of life insurance then you can do this by selecting ‘Add critical illness cover’.