We share 10 family finance tips to help you save money, including making sure you’re claiming all your benefit entitlements.
Don’t forget most families are eligible to get help from the government. Anyone responsible for a child can claim child benefit, for example. Pregnant women and new mums are also eligible for free prescriptions and NHS dental treatment.
Thinking carefully about your purchases can help you save. It may be worth seeing what you can get second-hand.
Why not check out one of our Nearly New Sales which have loads of baby essentials and accessories at bargain prices?
A Junior ISA is an account that lets you save and invest for a child under 18, tax free. With no tax on your ISA savings, you can see them grow faster.
Take a look at our guide on Junior ISAs to see if your child is eligible.
With lots of childcare options out there, there should be one to suit you, your child and your budget.
Take a look at our article which outlines the different options and costs.
You’ll also find information about tax-free childcare.
Did you know that a baby could cost as much as £7,200 or as little as £1,600 in their first year, excluding childcare?
Money Helper’s baby costs calculator can help you work out your expected spending, whether you are thinking of budgeting or want to see the potential costs if you plan to spare no expense.
No-one wants to think about what will happen if they are no longer around, but when you have a family it can be even more important to have a will prepared.
Consider talking to a solicitor or a will-writing service to find out costs. Find out what your options are for writing a will.
It’s not unusual to feel anxious about bills, especially if you’re on a tight budget and with the recent rises in energy costs.
There are ways to reduce your family’s energy bills while also making sure you all remain comfortable.
You are entitled to maternity or paternity leave, however long you have worked for your employer.
You are entitled to maternity or paternity leave, however long you have worked for your employer. Although, agency or contract workers may not be eligible.
Take a look at your statutory rights and chat to your employer about their schemes to find out what they offer.
Take a look at our section on maternity leave and pay for more information.
Interest rates have risen and it’s worth seeing how further rises might affect you, especially if you have recently expanded your family. If you have a mortgage or are thinking of getting one, take a look at Money Helper’s mortgage calculator.
When you have children it could be a good idea to review your life insurance, or consider getting a policy. Not everyone needs life insurance, but if your partner or children rely on your income to cover the mortgage or any living expenses, it could be a good idea to look into it before the baby arrives.
Read more about life insurance
This article is provided by Money Helper, previously the Money Advice Service.
Our helpline offers practical and emotional support in all areas of pregnancy, birth and early parenthood: 0300 330 0700.
Make friends with other parents-to-be and new parents in your local area and see what NCT activities are happening nearby.
You might find attending one of our Early Days groups helpful as they give you the opportunity to explore different approaches to important parenting issues with a qualified group leader and other new parents in your area.
