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Raising a child 'costs £222,000'

Parents are paying nearly two thirds more than they were a decade ago to raise their children. The cost has risen to £222,000 to raise a child until the age of 21, according to a survey for insurer LV=.

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Citizens' Advice: 'The cost of everything is going up'

The cost of raising a child has increased by £4,000 from last year, parents are spending more money on education and childcare costs, with many forced to make cutbacks.

Speaking to ITV Daybreak, Gillian Guy from Citizens' Advice said that costs are going up but salaries are staying the same, and it's harder to make ends meet.

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