Life with children is on average £400 more expensive per month than life without, according to research.
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Research commissioned by Deichmann Shoes shows that parents with kids spend an extra £400 per month on average than those without children.
The survey of over 2,000 adults found that the biggest differences in monthly outgoings between those who hadn't had children and those who had were:
Couples without children said they had an average expenditure of £1,006 per month, while those with one or more children have an average monthly outgoing of £1,406.
And it's likely many parents are feeling the crunch more than ever because of the impact of coronavirus.
According to the research, the biggest spends for parents are:
The study found that while many spending areas for parents go up, less money is spent on alcohol and nights out compared to those who don’t have children. (Although that gap may well have closed since lockdown!)
And around two thirds of parents said they feel guilty spending any spare money on themselves, whereas just under half of adults without children said they feel the same guilt.
It also revealed that a whopping 70% of parents aren't financially prepared for the extra costs of parenthood.
Dad Simon Wilson, who also works at Deichmann, said: ‘As a parent myself I know that having kids is really rewarding, but also very expensive.
‘From the moment you find out you are expecting, there are suddenly a host of extra costs you wouldn’t have had if it wasn’t for the kids.
‘All the little things add up over time and its especially difficult to keep up with clothes and shoes as children keep growing.’
Predictably, the poll found parents missed free time and sleep more than they missed the extra cash.
However, despite the lack of sleep, free time and extra cash, three quarters of parents surveyed said that having children was the best thing they’d ever done.
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What is it that you miss the most about life before your children? And have you noticed your financial situation has changed since having kids? Let us know in our forum chat below.