The cost of raising a child to 18 in the UK has increased by nearly £100,000 in the last year, according to new data.
Child Poverty Action Group’s (CPAG) recent annual report has revealed that the cost for a couple is £260,000, while for a lone parent it is now £290,000.
This cost covers what CPAG describes as the minimum socially acceptable standard of living for children and is calculated by research carried out at Loughborough University.
Families in Wandsworth are among those feeling the impact of this the most.
The charity Home-Start revealed that they have recently experienced roughly a 15% increase in the number of parents reaching out for support in the area.
Home-Start is a charity that works to provide additional support to families across the UK through volunteer schemes, group activities and a variety of other events.
A spokesperson for the charity said: “One of the greatest stressors for families today is money, with even parents well above the poverty line being forced to make difficult economic choices, and more and more people relying on foodbanks to feed their families.”
Home-Start also work with mothers who may be struggling with poor mental or physical health, isolation, financial hardship and post-natal depression.
Once their volunteers have undergone training, they are assigned a family to visit on a weekly basis and offer support, whether that be helping with the school run, providing emotional support or, giving the mum some respite.
The charity spokesperson said: “Through practical and emotional support, our volunteers help parents build vital connections with their children and encourage a supportive, home environment in which children can thrive.”
She added: “It’s all about empowering mum.”
“Our volunteers offer no judgement.
“They are amazing mums but just need a little bit of extra support.”
Dr Amy Matheson, a clinical psychologist said: “The service the volunteers offer to vulnerable women in the community is so invaluable.”
A Home-Start volunteer added: “To learn from other mothers that are maybe living in more challenging circumstances than yourself but are positive, determined, caring and above all else great parents to their children, is quite inspiring.”
Femke Harris, the founder of Merry Go Round, a rental baby equipment business, said that the rising cost of living is something that many families feel acutely.
Femke Harris said: “From essential items like next to me cots and buggies to highchairs and carriers, the financial burden can add up quickly, particularly in those early months.”
Merry Go Round helps parents manage these costs by offering premium baby equipment for rent.
Renting these products can save parents up to 70% compared to buying new.
Harris added: “Merry Go Round makes quality equipment more affordable and financial peace of mind a little easier to achieve,”
Initiatives like Home-Start and Merry Go Round are helping provide financial, emotional and physical support to families in Wandsworth and beyond that need it most, as the cost of raising a child continues its drastic rise.
The impact these organisations have on families can be meaningful.
One Home-Start testimonial said: “Often in our circumstances you can feel like you are living on the edge of society, unseen, but our volunteer made us feel seen and heard.”
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