Use your Isa allowance, take advantage of your workplace pension and save 10 per cent of your salary each month. These are all sound bits of financial advice.
But this one could be the best money tip of them all: don’t have children.
It’s no secret that having kids is an expensive business. The figures vary depending on where you look, but it is estimated that raising a child to the age of 18 costs an average of about £220,000. Research by the insurer L&G suggests that child-free families are about £12,000 a year better off than those who have children.
So it’s little wonder that people are delaying starting a family, or not doing it at all.
The average age of a first-time mother
