A new report has revealed that the average parent now expects to support their children financially until the age of 29.
The Sainsbury’s Bank survey also found that girls are more costly to raise than sons as they are roughly £300 a year more expensive until the age of five.
That gap doubles in teenage years with girls between the age of 14 and 18 costing nearly £600 more than boys.
According to the findings, mums expect to cut off their children financially at the age of 30 whereas fathers expect it to be a little sooner at the age of 27.
Founder of Moneycomms.co.uk, Andrew Hagger said of the results:
"Couples planning their first child may take a sharp intake of breath when they see the figures in this report but at the same time it provides an important reality check and an idea of what to expect.
"Whether it's a boy or a girl, household finances can be turned on their head when the first child is born - a sudden spike in expenditure and potentially less income means that the family purse needs to be managed more closely."
