British parents spend a staggering £10,000 on their baby – BEFORE their first birthday, according to a new study.
Researchers took an in depth look into how much the nation’s mums and dads spend, before birth and up to the first birthday of their child, with the average Brit shelling out an eye watering £10,039 on all the things a baby needs.
But according to the survey, 29 percent of parents admit they completely underestimated how much they would have to spend, while a further 13 percent were forced to ask family to help out with money.
As a result parents admitted they had to cut back on other things with 29 percent saying they gave up on holidays, while 26 percent said they stopped going to the pub and a further 21 percent confessed they stopped spending money on clothes for themselves.
Natalie Crisp, brand manager at pushchair specialists KOOCHI which commissioned the study, said: “It’s not surprising to see the increasing amount spent in the run up to, and during a baby’s first year as there’s so much choice on the market, with some products costing much more than others.
“However, key items such as push chairs, prams and car seats needn’t cost the earth. The key factors to consider when buying a product are versatility, longevity and value for money, that doesn’t break the bank.
“While having a baby is not cheap, there are lots of ways to keep the cost down. We pride ourselves on our quality and product offering, with some designed to grow with the child.”
According to the study parents can expect to spend £6,053 getting ready for baby’s arrival splashing out on things like cots, prams, clothes, car seats, not to mention furnishing and decorating the nursery.
After the birth, mum and dad then fork out a further £3,986, which includes buying on average 129 items of clothing for their little one.
Unsurprisingly 14 percent of parents were unable to buy everything they wanted for their child, with the average parent admitting they only managed to save £1,027 before their new arrival.