Raising a child is a significant financial commitment that extends far beyond basic childcare and education expenses. A study conducted by the Belgian insurer AG, in collaboration with the household budget organization Gezinsbond, has quantified this cost, and the findings are striking. According to the study, the total expense of raising a first child from birth until the age of 25 can reach as much as €264,310.
Raising a Child: Equivalent to Buying a House
To arrive at this figure, researchers compared the expenses of two couples with similar monthly incomes of €3,908.17—the average income in Belgium—over a 25-year period. The results show that the average cost per child is approximately €800 per month, covering food, clothing, school activities, a mobile phone, and a bicycle. When additional expenses such as childcare and education are factored in, the total amount increases further.
While these figures provide a realistic estimate, they can vary depending on family income and lifestyle choices. To put this into perspective, the Belgian newspaper Le Soir highlights that with this amount, one could raise eight dogs, including their food and healthcare costs, or purchase a house in Belgium, where the median price for a standard home is €275,000.
This study underscores the substantial financial commitment parents undertake when raising a child, emphasizing the importance of financial planning for families.
