Study: Minimum cost of raising a child in Romania comes to EUR 77,300
A study by ClubulCopiilor.ro focused on assessing the minimum cost of raising a child from birth to the age of 19 in an urban family in Romania revealed that the cost comes to RON 384,991 (or EUR 77,300). The cost for a second child is lower, at RON 257,625, or EUR 51,700.
For parents planning to have two children, the total cost is projected to be at least RON 1 million (approximately EUR 201,000) until the two finish high school. However, it’s important to note that this cost is spread over 19 years.
The study comes in the context of a demographic crisis in Romania. The first half of 2023 saw the lowest number of newborns recorded in 145 years.
Many other European countries also grapple with aging populations and declining birth rates. In 2021, the average number of children born per mother in the European Union stood at 1.53, with Romania slightly above this average at 1.81 children per mother. In countries like Italy and Spain, where there are sizable Romanian communities, these numbers are even lower at 1.25 and 1.16, respectively.
Experts attribute this decline to various factors, including the increasing education and career pursuits among women, improved access to contraception and family planning, declining infant mortality rates, and shifting economic conditions that influence lifestyle choices. As living standards rise, so do the expenses associated with raising a family, posing financial challenges for parents who aspire to have larger families.
The study took into account costs associated with nutrition, schooling, clothing, extracurricular activities, holidays, the necessary equipment, and so on.
34% of the total costs for the first child were represented by housing, while 26% went to food, 14% to clothing, and 9% to social activities and education each. Food costs increased to 38% for the second child, while housing decreased to only 7%.
According to the study, parents will spend a minimum of RON 99,131 on feeding a child from birth to the age of 19. Roughly RON 60,000 will go to clothing, RON 9,000 to vacation-related expenses, and over RON 30,000 to education, with a similar sum going to social integration and extracurricular activities. Housing, the largest expense, will cost RON 131,655.
The methodology used in the study draws from an analysis conducted in 2018 by Syndex Romania and the Quality of Life Research Institute, which established the minimum consumption basket for a decent standard of living in Romania. By utilizing this framework and adjusting prices with annual consumer price indices provided by the National Institute of Statistics, ClubulCopiilor.ro arrived at its estimations.
(Photo source: Yuri Arcurs/Dreamstime.com)
