Costs of raising children a concern for UK adults, says CISI ​

By Lora Benson | Sep 28, 2021

The day-to-day costs of raising children has emerged as a concern for 75% of UK adults who stated personal finances have played a part in deciding whether or not to have (additional) children according to the not-for-profit professional body the Chartered Institute for Securities & Investment (CISI).

280921ParentsFPWeek2021consumerThe *survey was undertaken for CISI Financial Planning Week 11 October, #FPWUK led by CERTIFIED FINANCIAL PLANNERTM professionals, a pro bono campaign offering consumers UK-wide free, one to one sessions with a qualified financial planner.

A total of 2,072 adults aged 18+years were asked about their attitudes to personal finances, with 980 male and 1053 female respondents. Of those surveyed, 21% said they took personal finances into account when thinking about having children – half of these respondents said childcare costs were a factor (49%), while a third of these UK adults expressed concern about maternity/paternity leave pay (33%).  

Where personal finances have played a part in deciding whether or not to have children, 9% of 25-34 year olds are worried about the cost of IVF.

Sally Plant, CISI Head of Financial Planning said: “Our survey findings show the cost of raising a child for UK parents and parents -to- be is a major concern. It comes hot on the heels of the report issued this month by the OECD that childcare costs in the UK are the third most expensive in the world, behind Slovakia and Switzerland.

“It’s extremely sad if people’s desire to have children is being shot to pieces by money worries, which in turn puts pressure on the wider family for support. A third of the adults in our survey [for whom personal finances played a part in decisions regarding having children] also stated maternity and paternity leave pay is a concern. This finding too was picked up by a survey of 20,000 working parents by over a dozen organisations looking at issues around UK childcare costs.

“We need some serious, joined up thinking between the government, employers and childcare providers to create innovative plans to alleviate these concerns, potentially learning from countries who have got this childcare equation correct.”

UK Financial Planning Week 11-17 October’s  aim is to help people organise their finances to achieve their life goals and dreams, the campaign seeks to help consumers build financial confidence, combat anxiety and stress about money and deal with life’s challenges around day-to-day financial decisions. To arrange a free session with a qualified financial planner go to or phone 020 7645 0777.

Notes to Editors

*All figures, unless otherwise stated, are from YouGov Plc.  Total sample size was 2,072 adults, including 438 adults whom personal finances have played a part in deciding whether or not to have (additional) children. Fieldwork was undertaken between 17th - 18th August 2021.  The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).

CISI’s Financial Planning Week 11-17 October follows World Financial Planning Day 6 Octoberorganised by the Financial Planning Standard Board (FPSB). The CISI will also be participating in IOSCO’s World Investor Week in October. This is an annual global campaign promoted by IOSCO to raise awareness of the importance of investor education and protection, highlighting the various initiatives of securities regulators and other IOSCO members on six continents.

On 6 October, the global financial planning community will come together for World Financial Planning Day (#WFPD2021) to help raise awareness of the value of financial planning, of having a financial plan and of working with a competent and ethical financial planner who puts clients’ interests first.