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Cost of - NATSEM

Income and Wealth ReportIssue 33 XXXXXX 2013 Ben PhillipsThe cost of raising children in Australia Issue 33 May Income and Wealth ReportCost of ContentsForeword 2 Introduction 3 Our changing families 4 What Australian children cost in 2012 5 Older children cost more 5 How the government assists 6 cost of kids by age 8 Additional children cost less 9 The work decision 10 Adding it up: A lifetime of costs 15 Where it all goes 16 Are children costing more? 19 Conclusion 21 Technical Notes 22 Overview 22 Calculating the costs of children 23 Other ways of estimating the costs of children 24 Acknowledgements 25 References 262 ForewordAs parents, there are lots of things we want for our children. We have dreams for them from the moment they are born. We hope they will have a happy life, a fulfilling job and plenty of opportunities - eventually, perhaps a family of their what s the cost to achieve this?

3 Introduction In terms of love, hope, time and effort, raising children can be the greatest investment people make. But what about money? What does it cost a family to raise children in Australia today?

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