Cost of raising two children in Australia has risen 134% in two decades, study says

A new analysis reveals that Australian families now face annual costs of at least $36,500 to raise two or more children, marking a 134% increase over the past two decades. While household incomes have grown by 102% in the same period, childcare expenses alone now account for nearly a third of the total financial burden of parenting. Advocates highlight the widening gap, warning that rising costs outpace wage growth and calling for greater support. The findings underscore growing concerns over affordability for families with children.

Parenting advocate Georgie Dent says rising childcare cost has pushed the overall burden to $36,500 a year and calls for more paid parental leaveGet our breaking news email, free app or daily news podcastThe cost for Australian families of raising two or more children has risen to at least $36,500 a year, according to new research, with the money needed to run a family increasing by 134% in two decades.Data released by advocacy group The Parenthood on Wednesday shows household income has only grown by 102% in the same period, with childcare costs making up 33% of the total cost of having children today. In 2003, the figure was 27%, according to the analysis by firm Connell Griffin. Continue reading...