Increase in cost of stay at home parent

It would cost more than €60,000 a year to replace a stay at home parent.

That’s almost 50% higher than it was a decade ago.

Research by Royal London Ireland estimates the role is now worth €60,112 a year.

That’s up more than five per cent on last year, and a sharp rise compared to when the study first began ten years ago.

The calculation takes into account childcare, cooking, cleaning, school runs and other daily household tasks.

A survey of one thousand adults carried out as part of the research found eighty two per cent still fail to recognise the true financial value of stay at home parents, with the average estimate coming in more than twenty five thousand euro lower.