Nov 11
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Kitty Flanagan on the cost of raising kids – The 7pm Project
Kitty Flanagan on the cost of raising kids – The 7pm Project
Kitty Flanagan on the high cost of raising children – The 7pm Project (Australia) 7pmProject.com.au Broadcast date 16 August 2011 – No copyright infringement intended. Produced by Roving Enterprises. Uploaded by Rove Online – RoveOnline. com (unofficial) Got a lazy $600000 lying around? Boy, do we have an investment for you. Sleepless nights. Dirty nappies. Crying baby. Do young glamour couple Bec Cartwright and Lleyton Hewitt know what they’ve got themselves into? More to the point, do they have any idea what this parenting business will cost them? Probably not. Most people don ‘t, according to Dr Paul Henman from the University of Queensland’s Social Policy Unit, part of the School of Social Work and Applied Human Sciences. “Most new parents don ‘t have much idea about the cost of raising a child,” he says. “They look at whether they can afford it, but on a day-to-day basis. The overall cost of raising a child to the age of 18 comes as a surprise.” According to a study conducted by the Australian Institute of Family Studies back in 1994, a first child was calculated to cost around $3000-$13000 in the first year alone. When you take into consideration the upfront costs of every year after that, along with the hidden costs of loss of earnings for the primary carer (estimated to be around $160000 by the AIFS in 2001), well, the figure starts to look quite scary. So what’s the figure? Well, brace yourselves. “It can be up to $600000,” admits Dr Henman , “but that’s the top end …
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