The cost of raising a child in 2017 is sky high

Sydney Sekese, financial planner at the Financial Planning Institute says people should be made aware of what they are in for when deciding to have a baby.

He says parents need to be mentally prepared to raise a child due to the exorbitant costs of raising children.

Sekese has looked at some of the numbers and found out that it costs around R90 000 a year to raise a child in 2017.

He says if you exclude inflation from the equation, the cost of raising a child adds up to R2.07 million by the time the child reaches 23 years of age.

To hear more on the cost of raising a child, listen below:

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