Are you prepared financially for your new arrival?
When you’re having a baby it’s normal to focus on the practical aspects of preparing for the arrival of a newborn, such as deciding where to give birth, choosing names and buying the essentials. In fact, there are so many practical things to consider that people often overlook the financial considerations.
What you need to know
By taking the time to consider your finances ahead of time, you’ll be able to avoid financial pressures and really enjoy the special time with your new family member. Now is the time to consider:
- Budgeting for the costs of having a child, such as the possibility of living off just one income
- How you will afford to buy the things your baby will need such as a cot, car seat and clothes and nappies
- Whether you will be eligible for financial assistance from the government through schemes such as paid parental leave, family tax benefit, child care benefit and child care rebate.
Try to save enough before-hand to cover pregnancy costs and living expenses
Before buying baby items, work out which are essentials and which are nice to haves.
Count on us
A Count adviser can help you:
- Put together a budget and savings plan
- Understand the benefits you are eligible for.