raising baby

Luxury parents raise the cost of having a baby | Money Matters | News.com.au

INDULGENT parents are splashing out thousands of dollars to ensure their newborns enter a world of unstinting luxury, complete with designer prams, organic nappies and high-end blankets.

New research conducted by Practical Parenting magazine shows Australian parents are spending on average $7411 preparing their home for a newborn. And that’s before the baby even comes home from hospital.

Designer prams with flashing lights and thermometers, hand-stitched Italian leather nappy bags and kangaroo leather baby shoes are just some of the outrageous products new parents can't get enough of.

Have a look at some more incredibly expensive baby products in our gallery.

And some Sydney parents are even paying $5000 to reserve enrolments for toddlers at exclusive pre-schools before a cent is paid in tuition fees.

“Kids come first in today’s world – and mums won’t let them go without. It’s not about spoiling them rotten, but more a reflection of the age we live in” Practical Parenting editor Mara Lee said.
The total cost of raising a child to 5 years averages at $56,611, with monthly expenses including hygiene, health, essentials, education and entertainment costing parents an average of $2234.

Ms Lee said the survey found three clear trends in today’s parents.

Little Emperor Syndrome:

“Families are delaying marriage and children for so long that once they finally have a family they become an all-consuming focus,” Ms Lee said. “Children become more cosseted, more precious, more indulged and they demand “must have” items, what they want to eat.”

Kidults:

“Parents look to provide every opportunity for their kids: to do more, see more, experience more. Children have greater exposure - and as a consequence become more worldy, more leading to the emergence of educated, opinionated and informed ‘kidults’.”

Protective Parents:

“Some parents see the home as a haven. The world is in a fragile state. Threats to safety are everywhere – and parents now strive to protect their children’s physical and emotional security at all costs. Enter security gates, security systems, alarms: parents buy reason to stay in (electronics, toys, computers) and create an inviting indoor world.

Huggies spokesperson Cassandra Casey said parents looking to reduce costs had many options.

“If possible, breastfeed – it costs nothing,” Ms Casey said. “Make your own baby foods in bulk and freeze individual portions.”

“Toys lose their novelty pretty quickly - take up a toy library membership so that you can revive the toy box regularly without the cost.”

But there are some costs that parents can’t do much about. According to the Australian Scholarships Group (www.asg.com.au) the average cost of primary school education is $5536 for Government schools, up to $7442 for Catholic schools and up to $13,130 for private. Estimated costs include fees, stationery, books, uniform, commuting to school and computer & internet costs.

By high school those costs rise to $5938 for Public Schools, up to $12,144 for Catholic and up to $22,436 for private schools.