According to the Government’s Money Helper website, the average annual cost of sending a kid under two years old to a full-time nursery is £14,030.
A study conducted on behalf of the advocacy organization Pregnant Then Screwed indicates that almost 50% of English parents with children under five think that the cost of daycare has negatively impacted their finances.
Joeli Brearley, the founder of the organization, stated that in addition to the crisis of rising living expenses, “we’ve got a cost-of-working crisis that disproportionately impacts mothers” in a statement following the study’s release.
It was stated by her that many parents who wish to have more children “cannot afford to do so” and that “procreation feels like financial suicide when having more children means sacrificing your income. Being a parent is tough enough.”
“If we aren’t careful, becoming a parent will be a luxury item, and the economy can’t afford to pay that price.”
According to the government’s Money Helper website, full-time nursery attendance for children under two years old now costs, on average, £269.86 per week, or £14,030 annually.
In order to raise their children, 46% of parents informed the charity that they had taken out loans or depleted their assets, an increase from 35% in the previous year’s study.
