Monthly cost per child: £75

They want the latest and greatest clothes, shoes and trainers and nothing else will do. Teens cost an annual £1,033.70 a year in clothes not to mention accessories.

Cost-cutting tips: Bargain stores such as TKMaxx and Primark are now cool and clothes cost a snip of the price of the big shops. Use internet shopping comparison sites such as Kelkoo to hunt for bargains or check out eBay. Have a boot sale to raise funds.

If all else fails, tell them you've left your purse at home.