The 'Cradle to College Cost Index' by Laya Life, found the cost of raising a child until the age of 21 is almost €170,000 - a 60 per cent rise since 2015.
One in four parents say the first year and teenage years are the most expensive times for parenting.
A survey of 1000 parents also found just over half want to financially support their children when they buy their own homes.
The 'Cradle to College Cost Index' by Laya Life, found the cost of raising a child until the age of 21 is almost €170,000 - a 60 per cent rise since 2015.
These parents say there are constant money pressures when it comes to raising children.
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