Irish parents spend around €250,000 on their children before the kids reach 25.
That amount goes on the likes of food, education, clothing and holidays.
One of the biggest expenses is the First Communion, which can cost between €700 and €1,000.
The survey for Irish Country Living magazine recommends that new parents should avoid buying silly extras - like wet wipe warmers - when preparing for birth, and instead to shop around for essential items such as a pram, cot and changing table.
Consumer expert with the Irish Independent, Sinead Ryan. says there's huge pressure on families when it comes to extra curricular activities.
She observed: "Everything from dance to football to theatre... all of these cost a fortune.
"Maybe we are at the stage where we're afraid to let children just amuse themselves, and go out and play."
She added: "Children of the 1950s, 60s and 70s just had to get on with it - there wasn't the money to do that kind of thing. So there certainly is a lot more indulgement."
