The latest Statec report on social cohesion has estimated that a couple with a child aged six and under requires a budget of at least €3,608 per month to live on - more or less the equivalent of two people earning minimum wage.
The budget increases with the number of children, of course, with families of three children requiring at least €5,186 per month.
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According to Statec, the benefits granted to parents (family, school and birth allowances) only partially cover the cost of parenthood. During a child’s first years, the state covers 100% of the “minimum needs”.
However, as a child ages, their needs increase, leading to a rising budget. For children aged between eight and 14, benefits will cover up to three-quarters of the budget required, dropping to just 46% for older teenagers.
Benefits such as the REVIS, or social inclusion income, may be suited for couples with one child when combined with other allocations as, according to Statec, it “exceeds the minimum budget in virtually all cases.” However, without the REVIS, the minimum wage for unqualified employees is not sufficient.
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The budget required for a child aged under six months is around €334, says Statec, rising to €411 for a child under 18 months.
Children aged 5 require a monthly budget of around €332, according to the report, while a girl of 12 would need €487 to ensure all basic needs are met. This increases to €539 for a 15-year-old boy, and €744 for a 17-year-old girl.
Let us know your thoughts on these budgets in the comments below!
