While you are most likely ecstatic every time they dramatically reveal their new arrival, you may want to consider how much their new addition is costing you.
With 75 babies born per hour in the UK, or 657,076 a year1 , the UK has babies on the brain.
According to a recent report by LV, new parents can expect to pay £6000 for the first year of a child’s life2, however, what’s not talked about is the cost of a child to surrounding family and friends.
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A new report by thortful.com has discovered the true cost of a baby by revealing the cost of a baby to the friends of the parents.
Your friend’s baby is costing you £1242
The study of 1000 respondents revealed that every time your friends ‘put one in the oven’ you can be expected to foot some of the bill.
The first year of a child’s life will cost on average at £288 this is as friends are expected to pay for the following gifts and activities:
1st Christmas presents: £40
1st birthday presents; £37
Gifts to help the parents pre birth £39
Presents for when the child is born: £35
Gender reveal parties £32
Baby Showers £38
To add insult to injury the ‘little bundle of joy’ will continue to cost you for the next 10 years. The research showed that respondents who regularly see and attend life events of a close friend’s child purchase gifts (Christmas, Birthdays ect.) for the first 10 years of the child’s life. The average price spent on those gifts are:
£29 on Easter presents
£40 on Christmas presents
£37 on Birthday presents
This means you can expect to pay an extra £106 per year (or £1242 over 10 years including the first years' extra expenses).