Everyone always gets excited at the arrival of a new baby. Especially if that baby is royal. Children signify new beginnings and a continuation of the family legacy, both for regular people and royals alike. And while tiny tots often bring joy into their family’s lives, they also bring one hefty bill.
So, how much does it actually cost to raise a royal baby?
How much does it cost to raise the average baby in the US?
Even babies who don’t come from a royal household can be expensive.
According to a 2017 report from the U.S. Department of Agriculture, it costs around $233,610 to raise a child from birth to 17 years of age. But if you take into account inflation costs, that number is actually closer to $284,570. And again, if you consider those numbers are now a bit outdated, the cost is probably even higher today.
This average includes housing, food, transportation, healthcare, personal care, and even entertainment.
The biggest costs of raising a child are food and childcare. On average, a family can expect to spend $37,378 on childcare per child, according to the USDA. In most families, this is about 9-22% of their total income.
Luckily for parents hoping to have more than one child, the more children you have, the less of a financial strain each one poses as you can typically reuse certain items from the older children.
How much does it cost to raise a child in the UK?
It’s not so cheap to raise a child in the UK, either. A recent report has shown that the cost of childcare rose four times faster than wages did as a whole in the UK between 2008 and 2016.
Surprisingly enough, the cost of raising a child actually dropped this year, according to the Child Poverty Action Group (CPAG).
Now, to raise a child in the UK from birth to age 18 costs £75,436 on average for a couple family and £102,627 for a single parent/guardian. It is important to note that this number excludes housing, childcare, and council tax.
How much does it cost to raise a royal baby?
As you would expect, raising a royal child is leaps and bound more expensive than raising a normal citizen. In 2013, reports from CNN estimated that raising Prince George would cost the royal family over $1 million. This took childcare, school, clothing, and security into account, amongst other things.
Who pays for royal children?
In normal circumstances, parents typically have to pay for their children’s expenses alone. But that is not the case with the British royals. Most of their expenses are covered by the Duchy of Cornwall. This is a private estate that goes all the way back to the 1300s. The Duchy “is used to fund the public, private, and charitable activities” of Prince Charles and his children, according to the Duchy website.
In addition to the Duchy, certain things are paid for by the Sovereign Grant, which helps fund palace upkeep, staff salaries, the Queen’s paycheck, and more.
British citizens typically only pay about .85 cents a year into the Sovereign Grant.