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Pretty new to this forum and I'm looking forward to when I can give advice rather than just ask for it.
But for now, I've got another question!
Is there an 'official' sum for calculating the cost of bringing up a teenager per year. I'm trying to work out a settlement to put to my wife and as I'm looking after my sons (16 and 14) with no chance of maintenance payments I need to factor this in.
Thanks for any help
Paul
Hello Paul
I can tell you what the estimate is in the Uk, but can only take this from official benefit figures, in other words what the state things is the basic neccessity. Personally I think that this should be a higher figure once a child gets older but the system here does not recognise that.
For two children, the Child Benefit here would be £33.70 per week and the Child Tax Credit £88.46 per week, making a total of £122.16 per week for the two boys. Child Tax Credit is not paid at the full rate for everyone, as it is means-tested, but I believe it will give you some indication of what "someone in authority" thinks it costs to maintain a child at a very basic level
Hope this helps
Hi Lost in France
Great info Louise, but this seems such a miniscule amount, but I guess it is a good starting point.
I would have a think about monthly food and bills then divide by three! I noticed that I had spent £500 in cheques the other day over the last 2 years for my daughter. That was just trips, drama club and other school bits and pieces. NOT school uniform, other clothes, birthday presents for friends, birthday and xmas presents for her, holiday clubs etc etc etc! She's 15.
It would be interesting to hear what figure you come up with!
You could use our Budget Calculator, it could prompt you for all the expenses that you may not always think about. I just did it and I think I spend about £323 a month, yikes! (Thats including rent and bills and everything else)
Remember when you work it out, go for the higher figure. I once had to work out expenses at the benefits office, (I can't remember what for tho). They said I should spend at least £20 a month on clothes for myself!! That completely shocked me!! At the time I was living on £60 per week and NEVER bought clothes for myself! All the other figures they put in were way higher than I would have presumed.
It is always great to hear that people enjoy Your Talk, one day you will be further down the road with this new journey of life you are on and will be here supporting others. I just enjoy hearing about France, kayaking, the weather etc etc, so keep up that info too and I'm happy to help!!!
Yes, it is a miniscule amount Anna, considering what it actually costs to look after a teenager. I get a whopping £10 a week Child Support to maintain mine, from his father, lol, doesn't even keep him in cornflakes.
Great idea about the Budget Calculator!
I really should stop moaning really with the contribution I get from The Git.
More often than not now, it is £56 a month rather than the £22 for the four...
(oh for a rolling eyes smilie here!!)
I get absolutely ZILCH, so in one way I'm lucky (I guess) I never ever have to say thankyou, not that I would of course, on the other hand, my lad only gets clothes when and if. Not nice at all, and I'm sure even though some of you get maintenance, it doesn't even go near what kids cost does it? I'm glad that you are now receiving more Sparkling. £10 is an absolute joke Louise. Oh for the lottery win that we're all waiting for!!!!!
....or for the gift of clairvoyance so we could pick the right numbers in the first place!
Hi Lost in France
Did you come to a definitive figure?
Hi Anna,
No, is the short answer I'm afraid. Things are moving forward and I'm still busy getting info.
Sorry I've not posted for a while. I'll post an update asap.
Take Care
Paul
Good to hear from you, Lost in France, we will look forward to catching up when you have a bit more time.
Hi Lost in France, I imagine you have got a world of things you are dealing with, let alone your boys emotions and your own.
Please do keep in touch, we are thinking of you, stay strong :)
Hi Paul, I can't help you here, but others who have teenagers or who have dealt with this sort of thing will be along at some point, so keep checking here ok.
Are you having a nice weekend?