The Cost Of Supporting A Child Until Adulthood? It’s £174,290

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New research by Raisin UK has found that it costs £174,290.48 to support a child into adulthood.

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child support

However, the costs of raising children doesn't just fall onto parents, but is increasingly involving grandparent's finances, too.

From graduation and weddings to buying a first car or their first house, the cost of being a parent really never stops aged 18. So how much do parents and grandparents collectively spend together raising children?

For parents in the UK, it costs up to £174,290.48 to raise a child until they are able to support themselves, fluctuating from £140,505.04 to £174,290.48 depending on how many children you have according to the CPAG 2020* report.

But, as children stay at home longer than post 18, return home from university and move back home to reduce costs whilst saving for a house deposit, the true cost can be much higher.

From childcare, taxes and housing costs to higher education, the cost of creating a family is indeed an expensive one. Using research from ONS the average British home spends around £2,458 a month or £29,496 a year keeping a roof over their heads, transport as well as feeding and clothing their family.

11- 13 Years Old Is The Most Expensive Age For Parents

Expensive Age

  • From the initial investments for a newborn, to the age of one sets back a family £14,468.48 a year reducing to £8,098.48 from three to four. Reducing down to £7,010.64 through to the age of ten.
  • As the child transitions into secondary school, there is a big jump in an annual cost per age group, possibly due to changes in school uniform, hobbies and interests. Hitting the heights of £9,087.52 until they hit 13 and level out, costing £4,486.56 per year until they hit adulthood.

With 11 - 13 as the most expensive age, we can speculate that as a high period of growth and change for the child it correlates with an increased need for finances. Their spurt of independence and development of their own interests needing more disposable income, affecting the child, as well as the parents.

Grandparents Are Paying Up To £5,000 PER Child


Grandparents are found to be spending on average £4,676.94 on each grandchild supporting them before adulthood, but it doesn't stop there. More and more often, we are finding that grandparents finances are a crucial key part in order for grandchildren to be able to hit those major financial milestones.

The data also found that:

  • 4.8% of grandparents likely to contribute to each grandchild's first car
  • 3.7% of grandparents are contributing to each grandchild's first home

The study also revealed that it's not just grandparents still alive helping grandchildren with major life events, a whopping 33.5% leave savings to their grandchildren in their wills, whereas 48.7% ensure none of their pension goes to their grandchildren.

Grandparents Spending 36-40 Hours A Week With Their Grandchildren Spend The Most

child support

The study also revealed that the less time grandparents spend with their grandchildren, then the less they are likely to contribute financially, causing a correlation between absence and decreased spend.

It was found that grandparents who were spending between 36-40 hours a month with their grandchildren were spending £873.41 a year per grandchild, a huge +1285% increase from those who never spend time with them. This could be because parents are back in work full time, therefore possibly being the primary care support network and reliable childcare provider.

You can view the full study here.

About Raisin UK:

Raisin UK is the UK operation of Raisin GmbH. A trailblazer for open banking and the leading pan-European one-stop-shop for online savings and investments, Berlin-based fintech Raisin was founded in 2012.

Raisin GmbH is a Berlin-based fintech innovator that has quickly grown to become one of the largest financial technology companies in Europe. Since launch, Raisin has brokered 23 billion EUR for more than 260,000 customers in 31 European countries and 92 partner banks. Raisin was named to Europe’s top five fintech by the renowned FinTech50 awards and is backed by prestigious European and American investors such as PayPal, Goldman Sacs, Thrive Capital, Orange Digital Ventures, Index Ventures and Ribbit Capital.

Raisin UK co-founder, Kevin Mountford, who brings over 25 years of experience in the sector and a track record from companies such as and Halifax Bank of Scotland, is overseeing Raisin’s rapid growth within the UK.

Raisin UK’s partner banks and products can be found on the website’s savings marketplace


Our bank of Mum and Dad data is created using our Raisin UK survey to find out the average time spent with their grandchildren and how many of them contribute to milestone costs. We also used CPAG data to find out the cost of having a child, by the year or in its entirety. We also used data to find out the average UK household spend.

*We carried out research to find out the real cost of raising a child, as a parent or grandparent. Analysing data from the Office for National Statistics (ONS), the Child Poverty Action Group (CPAG) as well as surveying 2000 grandparents in order to find out the true cost of raising a child in 2021.