From the cradle to adulthood, raising a child costs 156,000 euros.

MILAN – The reasons Italy has fallen into a structural spiral of low fertility aren't just economic, but the sheer scale of spending to cover the "costs" of raising children is certainly shocking. Considering a typical Milanese family, for example, this means allocating 30% of disposable income to childcare expenses. This is roughly the threshold between affordability and unsustainability of a mortgage payment.

A child from birth to 18 years old costs 156 thousand euros

The calculations were made by Moneyfarm, a digital financial advisory firm, which estimates, based on the current cost of living, that raising a newborn to adulthood costs between €107,000 and €205,000, for an average of approximately €156,000: over €8,500 per year. Compared to the last survey, which dates back to 2022, the increase was 12%, higher than the average inflation rate for the period, which was 9%. "Compared to three years ago, accompanying a child from the cradle to adulthood costs an average of €16,000 more," the analysis says. Not to mention that, once the child turns 18, potentially even more expensive education begins.

Each family, with its own needs and budget, is obviously unique. Of course, the budget needs to be prepared ahead of time, and in fact, Davide Cominardi , Investment Consultant Manager at Moneyfarm, emphasizes the need for financial planning comparable to that needed for buying a home. He also emphasizes regular savings, which, if invested wisely, can provide valuable cash for the financial challenge of parenthood.

The fact is that even before the birth of a child, a couple of future parents must budget for an average expense of 5,000 euros for visits, ultrasounds, antenatal classes, delivery room and baby supplies .

Then there's a whole rising cost, especially "in urban contexts like Rome or Milan, where prices are at least 20% higher than the national average."

The progression of costs

The progression is constant, because if in the 0-3 age group we are talking about figures that oscillate between 11,700 and 27,000 euros (products for early childhood, nursery or babysitter, essential purchases from the stroller to the cot), in the next age group (4-5 years) it rises in a range of 10,700-30,000 euros, thanks to the entry into nursery school , with costs related to canteen, teaching materials, clothing and some extracurricular activities.

During primary school, the jump becomes more significant, with spending ranging approximately between €31,500 and €46,000: "The main factors are transportation, school meals, after-school activities, and sports or cultural activities." In the final phase of coming of age, "the cost continues to increase significantly, reaching €75,000–€109,700 for the entire middle and high school years. The main expenditures include education, technology (smartphones and PCs), leisure time, study trips, clothing, and academic support (tutoring and university tests). The peak is reached in the 15-18 age group, when supporting a child costs an average of €11,750 per year."

From nutrition to sport: the weight of individual factors

Looking back, from birth to 18, you can spend up to €40,600 on food alone , a difference of almost €6,000 more than three years ago. Technology (computers, tablets, phones) can cost up to €8,500, while sociocultural activities cost an average of €18,000 (up from €16,000 three years ago).

In the 6-8 age group, among the most demanding items for the family budget we find school meals (between 1,000 euros and 2,200 euros for the three-year period, depending on the age group considered), after-school activities (which can be done without, but which cost an estimated 2,200 euros in the average range), sports activities (between 1,000 euros and 2,200 euros) and summer camps (from 1,200 euros to 4,600 euros). In the 15 to 18 age group, however, the expenses incurred for sport (from 2,500 to 3,700 euros per year), English courses (from 2,500 to 3,700 euros), pocket money (from 2,200 to 4,500 euros) and studies abroad stand out, given that for a single year the expenditure varies from 11,000 to 16,500 euros.

Economies with brothers and sisters

In the case of second or more children, economies of scale come into play, especially by sharing strollers and babysitters. It's estimated, however, that a second child would add 70-80% to the family budget compared to the cost of the first: "This overall burden, however, is high, which means that large families in Italy are increasingly rare."