How to Work Out if You’re Saving Enough For Your Child’s Future

This is a rather timely piece for myself. I have been researching investments, savings and mortgages for myself recently. Although I am researching for myself, and not children, there is data that is of interest to me.

The section that first catches my eye is about housing deposits. As I am currently in the process of looking to buy a house the average deposit requirements and average house prices throughout the UK is relevant for me. An average house price of £470k in London, compared to £117k in Northern Ireland, is an eye watering difference that highlights the inequality we are all faced with. £47k for a deposit is a huge amount of money to save.

The other stat that jumped out for me was the first car, especially insurance for a 17 year old driver – £2,232. I remember arranging the car insurance for my first car. I actually went to the shop (pre internet days) with £250 cash in my pocket and in fear of being mugged all the way. That covered my first year. Wouldn’t get very far now.

And what can I say about £50k of student debt? I wouldn’t be able to afford my degree if I were to take it again today.

How to Work Out if You’re Saving Enough For Your Child’s Future infographic brings to attention how raising millennial children now carries a responsibility and a hefty price tag for many years. Better start saving for a junior ISA before you even think of conceiving!

The graphic is well presented with clear sections and typographic hierarchy. All stats are clearly highlighted and visual icons and maps assist in speedy data consumption.

A good piece of content for Shepherds Friendly audience, if not a little alarming! Overall a 7 out of 10.

How to Work Out if You're Saving Enough For Your Child's Future infographic

2 years ago