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The bill for a child rushes up by a million
🇸🇪 Sweden /Culture & Society

The bill for a child rushes up by a million

From Dagens Nyheter · (8m ago) Swedish Critical tone

Translated from Swedish, summarized and contextualized by DistantNews.

TLDR

  • The cost of raising a child in Sweden has surged by nearly one million kronor over the past decade, reaching 2.2 million kronor by age 18.
  • This figure excludes additional costs associated with parents working part-time, which can push the total to nearly 2.9 million kronor.
  • SEB's analysis highlights significant increases in expenses for food, clothing, housing, and other necessities, while child benefits have failed to keep pace with inflation.

Dagens Nyheter reports on a stark financial reality facing Swedish families: the escalating cost of raising a child. Our analysis, based on SEB's private economics figures, reveals a staggering increase of almost one million kronor in just ten years. By the time a child turns 18, the cumulative cost now stands at a daunting 2.2 million kronor. This figure, while substantial, doesn't even account for the further financial strain on parents who opt for part-time work to be more present, a choice that can inflate the total to nearly 2.9 million kronor.

It has risen by an enormous amount in just ten years

— Américo FernándezSEB's private economist comments on the dramatic increase in child-rearing costs.

The breakdown of costs paints a clear picture: 670,000 kronor for food and household expenses, 520,000 for clothing and equipment, and an additional 580,000 for potential housing upgrades. These aren't abstract numbers; they represent tangible sacrifices and financial planning that stretch over nearly two decades. The initial years are particularly costly due to major purchases like strollers and car seats, with costs fluctuating as the child grows.

It is difficult to grasp how much money it is because it is not paid in a lump sum but occurs over many years

— Américo FernándezSEB's private economist explains the challenge of comprehending the long-term financial commitment.

What makes this trend particularly concerning from a Swedish perspective is the widening gap between these rising costs and the stagnation of child benefits. While prices have climbed, the support provided by the state has remained largely unchanged, effectively eroded by inflation. This places an immense burden on families, particularly those with multiple children or those facing the difficult decision of balancing work and childcare. As Dagens Nyheter, we believe it's crucial to highlight these economic pressures, which impact not only individual family budgets but also broader societal discussions about family policy and the value placed on raising the next generation.

It is a classic private economic trap. It means a rather large loss of income, because it is not only salary but also loss of pension

— Américo FernándezSEB's private economist describes the financial implications of parents working part-time.
DistantNews Editorial

Originally published by Dagens Nyheter in Swedish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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