Pick up any newspaper, particularly the well-upholstered weekend ones, and you’re bound to come across a columnist complaining of personal poverty. Rosie Millard, famously overdrawn on her credit cards, started the trend although the subsequent discovery that she owns several pricey properties has stemmed the outpouring of grief. Even so, she continues to earn a few bob whinging about her debts in the Independent every Saturday.
Then there’s India Knight. In her Sunday Times column she observed that ‘One of the mysteries of 21st century life is why people who earn decent salaries are still relatively poor.’ She recounts a sorry tale of holidays in Blighty, clothes from Topshop, and DIY fingernails. But she’s happy that children of the ‘newly impoverished middle classes’ are learning to share bedrooms and expect modest Christmas presents.
No wonder the pips are squeaking. The cost of raising a child from birth to age 21 destined to enjoy the privilege of private schooling is reckoned to be £251,187. Stick your kid in state education, and it’s a steal at £180,137 (saving you £71,050).
Since the price tag is similar, a question is beginning to surface: a mortgage or a child? Which will give better returns?
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2 comments:
I see these guys have been having a 'whip round' for Ms. Millard - worth a look just to hear the hilarious audio!
[oops - forgot the link: http://www.rosiemillard.com/rosie_millard.html ! ]
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