New baby costs a third of salary as parents pay £184 a week
Caring for a new baby costs more than £9,500 in first year of parenthood – a third of the average annual salary – research has revealed.
A report has found that new parents will spend £184 a week on necessities such as food, clothing, nappies and childcare for their baby, equating to £9,568 in the first year of parenthood. The figure is a third of the UK average salary of £28,000.
Meanwhile, the government’s statutory maternity pay of £139.58 leaves parents with a weekly shortfall of £44.42 – or more than £2,300 a year – even without accounting for other costs such as housing costs or food... read more
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