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Child Raising Costs Soar

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11:52am 26th January 2012
(Updated 11:52am 26th January 2012)

Revealed: the Cornish parents cancelling insurance to help make ends meet.

A report claims one in six in the south-west has scrapped a policy.

It says the cost of raising kids now stands at more than £10 thousand a year.

That is up 3.3% on the 2010.

Insurer Mark Jones says times are tough: "This year we're seeing people perhaps being more aware of the changes in costs and taking more action to do something about it. We've found that about three quarters of people are cutting back on the family budget.

"This year it's very much the education and childcare that we've seen are the more expensive elements or the elements that are increasing most. They've both increase by roundabout five percent. Education is largely the increase in university fees"

Camborne mum-of-two Ria Williams is worried about saving for her daughters' futures:

"I think it is difficult at the moment. I think that you do need to budget and obviously you prioritise your children so everything that they need first and foremost they get and we sometimes as parents have to forgo our own luxuries."

"My children are relatively young at the moment, both under the age of three. So as soon as I need to start buying uniforms and they're going to school and they want to go to school clubs there's going to be more to pay for"

11:52am 26th January 2012

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