This is quite joyous.
So Liverpool Victoria (LVsomethingtrendyinnotnormaltypeface) puts out a cod report saying that the cost of raising a child is now £210,000.
They get credulous newspapers all over the country to repeat this, some, like the Guardian, even going so far as to link to the report.
Excellent, we\’ve now just raised the Google Page Rank of the LV site, done a little white hat work to make people more likely to see LV when they search for life insurance etc etc.
Sadly, of course, the result, the number, is entire codswallop.
Partly for the reasons listed here.
And partly because it entirely misses the largest cost of raising a child.
The loss of wages from doing so.
We know that there is a \”gender pay gap\” which actually turns out to be a \”mothers\’ pay gap\”. Whether it should or shouldn\’t be so, having children in this current society cuts your lifetime earnings.
Note \”lifetime\”, not just for some few years when the little bastard is still vomiting over titties (or even the two periods, extreme youth and university).
Mean wages are around £25,000 (close enough) the pay gap is 17%, that pay gap persists from primagravidae to retirement: on average, the former is 30 years old now and the latter will be 65 for women.
£150,000 or so.
That\’s the largest cost of having a child.