Written by No parent will need reminding that children are expensive. Of course, there are the day-to-day running costs of clothes, shoes – and large telephone bills – but there are also some surprises: A recent survey in The Times suggested that four-fifths of first time buyers needed parental help to buy their home and the debate about university tuition fees indicates that higher education costs are likely to increasingly fall on parents. Add in private school fees or a wedding and any thoughts of a quiet, comfortable retirement might appear to fly out the window. READ MORE »