A survey by Laya Life has found that raising a child in Ireland now costs €15,000 per year, which is an increase of almost 40% in the last 10 years.

The first year of the child’s life and teen years have been found to be the most expensive, with the cost of pocket money increasing by 86% since 2015 to an average of €1,196 per year.

Charlie Weston, Personal Finance Editor with the Irish Independent, spoke to Matt on The Last Word.

Hit the ‘Play’ button on this page to hear the chat.