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By LAUREN GROUNSELL FOR DAILY MAIL AUSTRALIA 06:39 31 Mar 2016, updated 08:53 31 Mar 2016 * THE COST OF RAISING CHILDREN WAS RELEASED IN A REPORT BY SUNCORP BANK * THERE THEY REVEALED
TWEENS, CHILDREN NINE TO 11, COST THE MOST PER MONTH * RAISING A CHILD TO THE AGE OF 18 WILL COST MORE THAN AU$286,000 The cost of raising a child is more than you think. Between schooling
expenses, the latest tech gadgets, food and housing parents are racking up a $1,636 monthly bill - and that's per child. In fact, by the time your child is 18 you would have spent more
than AU$286,000 - enough money to get you in to a brand new Ferrari. The figures were released by Suncorp Bank as part of their Tots, Tweens and Teens – the Real Cost of Raising Kids report.
In what was a surprising find, it was revealed children in the 'tween' age bracket - from nine to 11 years old - actually cost the most per month. The extra expenses were put down
to the increased need to become 'digitally connected'. RELATED ARTICLES THE COST OF RAISING A CHILD Infants (0-2 years): $984 per month Toddlers (3-5 years): $1,425 per month
Early age (6-8 years): $1,565 per month Tweens (9-11 years): $1,636 per month Early teen (12-14 years): $1,397 per month Teens (15-17 years): $1,290 per month 'Interestingly, more than
60 per cent of parents confirmed their ‘tween’ had a personal digital device,' Suncorp Bank regional manager Monique Reynolds said. Technology alone is costing parents of tweens $59
per month, with food coming in at $324, education $195 and social activities $150. And despite these costs, more than 50 per cent of parents revealed they frequently exceeded their monthly
allocation for food. While many parents would assume they spend the most money on their first child, it simply is not the case. In fact, the cost of each child actually increases as the
family expands. On average, a household with a single child will spend $1,118, compared to $1,494 per child for a household of two or $1,787 per child for a household of three.