Raising children is one of life’s greatest joys. For many couples, starting a family of their own is something to strive for and look forward to, but how much does it really cost to raise children?
New research from forex trading platform IG looks into how expensive childcare, bills and mortgage rates are in 10 countries across the globe. The data reveals, for example, that the UK is the second most expensive country for full-day childcare, with an eye-watering average cost of £857 per month. This differs greatly from Japan, where parents pay £310 per month.
The research also highlights the average percentage of wages spent on childcare. With more than half of the countries reviewed coming in at under 30%, the UK and Australia highlight how much more some parents are having to fork out – with Brits having to pay 47.1% of their salaries on childcare and Aussie parents paying 66% on average.
Take a look at the infographic below to explore the full cost of living for all countries.