THE shocking true cost of having kids has been revealed in new research.
Mothers lose an average of £1,051 a month in the five years after having their first child, compared with their salary before having kids, the study by the Office for National Statistics (ONS) found.
The total earnings loss for a mother of three children is over £100,000[/caption]
This amounts to an average of £65,618 in total. Mothers then lose a further £26,317 following the birth of a second child, and £32,456 after their third child, according to the ONS.
Part of the cut in earnings is down to a reduction in employment, the study, which was carried out between 2014 and 2022, found.
Campaigners warn the research proves that having kids is “becoming a luxury”, with the total earnings loss for a mother of three children totalling over £100,000.
Rachel Grocott, of campaign group Pregnant Then Screwed, said: “This new data confirms what mothers have known for decades: the moment you have children, your pay nosedives.
“This is the price that mums are paying – 42% of their salary – for five years after having their first child. It is completely abhorrent, and the more children you have, the deeper the drop.
“It’s not a gentle decline—it’s a financial freefall resulting in financial loss of over £100,000 pounds for a mother of three children.”
She added: “Is it any wonder that women are second-guessing having kids today? The cards are stacked so heavily against them that being able to afford kids is becoming a luxury.”
Vaila McClure, head of external affairs at single parent charity Gingerbread, added that the research was a “prime example of how the world of work doesn’t work for mums – and particularly single mums.”
What free support can parents get?
If you’re struggling to afford the high cost of being a parent, there are several benefits and support schemes you can apply for.
Child Benefit can be worth thousands of pounds a year, and is paid out to anyone with parental responsibilities for a child up to the age of 16 (or up to 20 if they’re in full-time education).
You can get £26.05 a week for your first-born or only child. For any additional children, the rate is £17.25 per week.
You can claim Child Benefit 48 hours after you’ve registered the birth of your child, or once a child comes to live with you.
Any household that earns less than £80,000 a year are entitled to the full payment.
But if you or your partner earns more than £60,000, you’ll have to repay part of the benefit through the high income child benefit charge.
Once you or your partner earns more than £80,000 a year, the amount you’ll have to repay cancels out the payment.
Working families can also now access 30 hours of free childcare per week during term time for children aged nine months to four-years-old.
The childcare must be provided by a registered provider such as a nursery, playscheme or school.
You can apply from when your child is 23 weeks old but the funding starts at the beginning of the term.
You can also open a tax-free childcare account, which gives an extra boost towards the cost of paying for childcare through nursery or recognised childcare providers.
The government scheme gives £2 free for every £8 put into an account, which is then used to pay providers.
Parents can get up to a maximum of £2,000 a year per child or £4,000 if their child is disabled.
How to claim Child Benefit
Child benefit is worth up to £1,331 a year for your first or only child and up to £881 a year for additional children.
This works out at £102.40 every four weeks or £25.60 a week for your first child and £67.80 every 4 weeks or £16.95 a week for their siblings.
There is no limit on the number of children that can be claimed for.
Applying is straightforward and can be done in minutes at gov.uk or through the HMRC app.
Parents with a newborn baby should make a claim online as soon as possible and could then receive their first payment in as little as three days.
You can also backdate claims for up to three months.
Parents can make a claim and then choose to opt out of receiving Child Benefit payments can still receive National Insurance credits if one parent is not working.
National Insurance credits build up your entitlement to the state pension.
Meanwhile if you’re expecting your first child and get certain benefits, you could be entitled to a one-off payment of £500 to help pay for costs such as a new cot or pram through the government’s Sure Start scheme.
You can claim within 11 weeks of the baby’s due date and you don’t have to pay the money back.
If you’re pregnant or have young children, you could also get a weekly allowance to go towards the cost of groceries through the government’s Healthy Start scheme.
The scheme is a weekly allowance of £4.25 for people over 10 weeks pregnant, £8.50 for the first year of a child’s life, and £4.25 a week for children aged one to four.
It works out as up to £442 worth of essentials over the year for a child.
Eligibility is based on income levels and entitlement to means-tested
benefits such as Universal Credit.
You may also be able to get a free grant to help with school uniform costs through the Household Support Fund.
To qualify, you’ll need to be eligible for certain benefits and your child must also be entitled to free school meals.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
