The BBC news website reports parents are paying on average £133.34 per week for ONE child. This is what they say:
https://www.bbc.co.uk/news/education-44859997 (copy and past into your browser)
That’s an astonishing figure and a sobering one when you consider the findings of the Joseph Rowntree Foundation who report on household income needs and expenses. They say:
A single person must earn £18,400 a year to reach minimum income standards (MIS); each parent in a working couple with two children must earn £20,000. The minimum wage remains too low to reach MIS, with widening shortfalls for some groups. A lone parent with two children, working full-time, had disposable income 4% below MIS in 2008 but 20% below today
Sorting out the finances for families who are separating and do not have the comfort of lots of savings and high equity needs care consideration. If this is you, please, please look for specialist advice. Contact us if we can help.