KIDS027 Building your 'Family Future Fund' (598 words)

This article highlights the staggering costs associated with raising children, in particular, their education costs. To demonstrate the benefits of planning early, the article uses an example of two couples who planned for this expense differently and discusses different options for building a Family Future Fund.

How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as a guide, a 2013 national study  found that a typical middle income family would spend about $.....,000 on raising two children from birth to age 24. At that time child-raising costs were increasing at around 9% per annum, so it’s a reasonable estimate that these days the cost of getting two kids to the point where they’re ready to leave home (that’s not to say that they will) is closer to $..........! And that’s a middle of the road figure.