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NewsStanding up for mums
Standing up for mums

Getting ready to celebrate Mother’s Day? We’d like to celebrate the brilliant job that mums do in budgeting, because bringing up kids has never been more expensive. In total, the typical parent can expect to spend £231,843 raising a child born in 2016*. The biggest expense is education-related costs such as uniforms, school lunches, text books and school trips - a massive £74,000.

Then there is £70,000 on childcare and babysitting, £19,000 on food, nearly £17,000 on holidays, £10,000 on clothes and £9,000 on hobbies and toys. No wonder that six out of ten of us say we’re struggling to cope. And even more shocking, nearly a third of children in the UK are classed as poor.

Here at the credit union, we can’t change national policy, but we can help mums to save while they borrow and access affordable loans. Save all or part of your Child Benefit with the credit union to access a low-interest loan of up to £500.

*Centre for Economics and Business Research

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  • Wolverhampton City Credit Union
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