Parent Saving
Calculator
Do you ever worry if you are saving enough for your child?
With parents now becoming the 10th largest Mortgage lender in the UK there is more pressure than ever to help your children later on in life. Try our nifty tool to see how much you should be saving if you want to give your child some money towards a house when they turn 21.
In order to give your child a deposit for a house in on their 21st birthday you should save:
House prices have increased on average by
per year since 2006.
This means that when your child turns
an average house in your area is likely to cost:
For a
10%
deposit
per month
Did you
know?
Click the boxes to reveal facts about savings in the UK
Almost
10 millionhouseholds in the UK have no savings at all
are the worst at saving, with
53%households in the UK have no savings at all
Average cost of raising a child in the UK is
£168,000Parents in the UK became the
10th largestmortgage provider in 2018 giving an estimated
£6.3bnis spent on raising their child
It is
46% more expensiveto raise a girl than a boy – that equates to a difference of more than a full-price university degree
The cost of raising a child has increased by
63%since 2003
of parents aren’t prepared for the costs of parenthood