Daughters are more costly to raise than sons, according to a survey of parents.
From birth until the age of five, girls are around £300 a year more expensive a year than boys, Sainsbury’s Bank found.
The cost gap doubles during the teenage years, with parents of girls aged between 14 and 18 typically forking out nearly £600 a year more than parents of boys of the same age, the research found.
The research suggested the gap may in part be due to girls’ clothing being more expensive than that for boys.
The survey also showed that parents of children under the age of 25 estimated that, on average, just over a fifth (21%) of their monthly household income is spent directly on items for their children.
And the average parent expects to be supporting their child financially well into their adulthood – until the age of 29.
Mums typically think the cut-off point for financially supporting their child will be 30 – while dads are hoping it will be a few years earlier – at about 27 .
Jasmine Birtles, founder of website MoneyMagpie.com, wrote a report on the findings… Read full article.