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The cost of raising a child in 2017 is sky high

12 January 2017 7:37 AM
Financial planner, Sydney Sekese, says people need to be mentally prepared when deciding to have a baby.

Sydney Sekese, financial planner at the Financial Planning Institute says people should be made aware of what they are in for when deciding to have a baby.

He says parents need to be mentally prepared to raise a child due to the exorbitant costs of raising children.

Sekese has looked at some of the numbers and found out that it costs around R90 000 a year to raise a child in 2017.

He says if you exclude inflation from the equation, the cost of raising a child adds up to R2.07 million by the time the child reaches 23 years of age.

To hear more on the cost of raising a child, listen below:


12 January 2017 7:37 AM