How much does it cost to raise a child? 672 euros per month

Diapers, clothes, food, toys, leisure, bills, conciliation... How much money does it cost to raise a child in Spain in 2022? The NGO Save The Children has made an estimate: 672 euros per month on average per son or daughter, a figure that comes from calculating the weight of spending on different basic goods and services. That monthly amount has grown above inflation, which shows to what extent breeding has become more expensive in recent years: those 672 euros are 14.5% more than the figure for 2018, when the cost was estimated at 587 euros a month. In the same period of time, inflation has grown by 11.3%.

Food and conciliation are the items on which families spend the most money, followed by extraordinary expenses, education (school canteen, textbooks and material) and housing. Compared to 2018, all expenses have risen in price, although some items have done so especially: current housing expenses have grown by 53%, furniture and fixtures, 30%, leisure and toys, 25% .

Save The Children criticizes the “insufficient public support for parenting in our country”. “Despite the notable changes recently introduced, focused on supplementary aid to families in situations of severe poverty or low income, Spain lacks parenting support policies comparable to the rest of the European Union. Our country does not address this issue as an investment in our future, nor is it committed to the full development of children and their capacities as an essential factor so that they can contribute to the productive system and, from there, ensure their own well-being and that of the whole of society," they say. Spain's expenditure in support of families and children is 1.3% of GDP, one point less than the EU average. Meanwhile, severe child poverty has grown one percentage point in our country, to 14.1%.

This average cost of parenting has a different impact on the different income brackets. For the 20% of the population with the lowest income, the cost of raising children directly exceeds their income: almost 900,000 thousand households cannot cover the cost of raising children even if they dedicate all their income to it. On the other hand, for the upper deciles, that is, for the richest 20% of households, the cost of raising children accounts for a little less than 30% of their income.

grows with age

The cost of parenting increases with the age of the girls and boys. Thus, if the average cost of raising a child between 0 and 3 years old is 556 euros, the figure rises to 610 in the case of girls and boys between 4 and 6 years old, to 701 euros per month when the children are between 7 and 12 years old, and 736 euros for minors between 13 and 17 years old. The report indicates that, since 2018, the costs of raising children have increased proportionally more in the age ranges of the oldest.

“For the age groups from 0 to 3 and 4 to 6 years, the highest expense is that of conciliation, which represents a third and a fifth of the total, respectively. This item is of fundamental importance in the early stimulation of boys and girls, in addition to helping to facilitate the labor participation of fathers and mothers. From the age of 7, the highest item is that of food, which reaches a fifth of the total cost of upbringing, and, being so important and conditioning, affects the physical development of boys and girls, "says the NGO.

There are also territorial differences: in Catalonia the average cost of breeding is 819 euros per month while in Andalusia it is 641 euros.

Save The Children proposes several key measures to support child-rearing, such as a new universal support for child-rearing of 100 euros per month, and addressing a "less regressive" tax reduction for basic necessities through a tax reform.

Source link