IT COSTS AROUND €15,000 per year to raise a child in Ireland now, a new survey by Laya Life has found.

The cost is up 39% in the last 10 years, with nappies and baby formula showing the largest increases.

Parents said that the first year of a child’s life and their teenage years put the most pressure on the household budget, but it seems families have changed some of their money habits.

Since 2015, there has been an 86% increase in the amount of pocket money given to children, now amounting to an average of €1,196 per year among parents surveyed.

Food costs have risen by 61%, now at around €5,000 per annum for a child, and rent support has risen by 37%.

However, parents are saving in other ways.

They reportedly spend much less on Communion and Confirmation gifts – an average of just €120 in 2025, versus €573.72 in 2015.

For family holidays, parents spend about 35% less now.

College fees have also dropped, with tuition costing an average of €3,387 now, versus €4,056 in 2015.