'Most parents spend more than they can afford on a new baby'
Two-thirds of parents admit to spending at least 20% more than they could afford on preparing for their baby’s arrival with one in four experiencing financial difficulties following the birth of their child, according to a new study.
The average first-time parent now spends £1,786 on essentials for baby’s arrival, from feeding equipment, clothes and baby monitors to more expensive items such as prams, car seats and cots, says the survey for How to...Prepare for your baby's arrival, a new six-part series on Sky 201 or Freesat 403.
Of the 2,000 parents surveyed, two-thirds admitted to feeling marked anxiety resulting from financial worries following the birth of their child. The main causes included childcare costs (68%), loss of earnings due to maternity leave (48%), financial outlay of preparing for a new baby (26%), long-standing financial problems (24%) and reduced benefits/family tax credits.
Alistair Clayton a spokesperson for the series which starts today at 7:30pm and is repeated on Sundays at 6.00pm, said: “In anticipation of their baby’s arrival, first-time parents often feel under pressure to overspend in preparation for every eventuality: outfits for every occasion, expensive nursery equipment and gadgets they’ll never use. Lack of money, in conjunction with the stresses and strains associated with caring for a new baby, makes for a toxic combination. It’s therefore hardly surprising that a quarter of parents admitted that their relationship with their partner felt strained.”
“The aim of How To...Prepare for your baby's arrival!" is to tackle the problems that cause new and expectant parents so much stress -- from how to save money to dealing with feeding problems and tackling health issues. This is a guide to help parents manoeuvre the minefield that is early-stage parenting so they can focus on what’s really important: spending quality time with their baby.”
The series will cover a host of topics – from money and time-saving ideas and stocking up on the baby basics to how to choose the high chair,pram, buggy and nursery equipment.
It will also examine the latest ideas and concepts in parenting along with the health needs of expectant mums, aided by expert advice from midwives, and will provide help on topics like feeding, weaning, bath-time and bed-time, and how to plan financially for the future of your child.
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