Two thirds of parents forced to make cutbacks
Childcare costs have risen by two thirds since 2003, when the first annual Cost of a Child Report was published, survey for insurer LV= has found.
- 76% of parents said they have been forced to make cutbacks to meet the financial demands of raising a child, more than a quarter are cutting back on food, and over half of them are using vouchers and discount codes
- Parents spend an average of £19,270 on food and £16,195 on holidays per child
- Costs have risen in all areas of expenditure apart from clothing, which has seen a 5 per cent drop since 2003
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