16-year-olds 'cost parents most'

Many parents found parenting more expensive than planned

Sixteen-year-olds cost their parents more than children of any other age, a survey has suggested.

The average weekly bill for feeding, clothing, entertaining and educating a child aged 16 is �64, the study claims.

Their nearest rivals are 11 and 15-year-olds, who cost �62 pounds a week, says the research by debit card Maestro and Family Circle Magazine.

The survey of 1,079 parents put the average cost of raising a child from birth to age 18 at �43,056.

'No regrets'

Fifty-four per cent of interviewees said they found parenting more expensive than they had originally planned, but the vast majority - 96% - said they had no regrets.

"The �43,056 total is almost twice the national average household take-home pay," said Nigel Turner, marketing director at Maestro UK.

"Taking these figures into account, it is important that parents plan their family budget carefully, particularly as children tend to become more expensive as they get older."

Feeding bill

Children under the age of one cost around �40 a week, the survey indicates.

The biggest single child-rearing expense is food, averaging �22 a week or some �20,000 in total by the age of 18.

Cute but costly: Parents spend an average �43,056 on raising a child

Clothing and entertainment came next at �7 per week or �364 a year.

Researchers also examined the growing trend for parents to send their offspring to after-school or weekend classes.

Around half the parents questioned said they spent between �3 and �7 per week for extra tuition or football or piano lessons.

The survey suggests that only a third of parents expect their children to be able to manage alone financially at age 18.

Many believe they will help with early adulthood costs, with 70% expecting to help their children buy a first car and 80% expecting to contribute to university costs.

Forty-four per cent also said they anticipate paying towards their children's first step on the property ladder.