According to Hirsch (2014), estimated cost of raising a child to 18 is approximately how much?

According to Hirsch (2014), estimated cost of raising a child to 18 is approximately how much?

• A. £100,000
• B. £80,000
• C. £154,000
• D. £200,000

Answer: (C)

Understanding how living costs grow with a child helps explain why family finances and policy are so intertwined. Hirsch (2014) estimates that raising a child to 18 costs about £154,000, using 2014 prices. This figure sums typical household spending across essentials—housing, food, clothing, transport, childcare, healthcare and other goods and services—over 18 years, excluding university costs. It’s a benchmark used to show the scale of the financial commitment of parenting and to compare how different incomes and welfare support affect families. The other amounts don’t match the widely cited Hirsch figure, which is why this option is the best fit.

Understanding how living costs grow with a child helps explain why family finances and policy are so intertwined. Hirsch (2014) estimates that raising a child to 18 costs about £154,000, using 2014 prices. This figure sums typical household spending across essentials—housing, food, clothing, transport, childcare, healthcare and other goods and services—over 18 years, excluding university costs. It’s a benchmark used to show the scale of the financial commitment of parenting and to compare how different incomes and welfare support affect families. The other amounts don’t match the widely cited Hirsch figure, which is why this option is the best fit.