Starting a Family

Starting a Family

Starting a family is probably the biggest single
life-changing event in your life. Raising a family
has an enormous impact on your financial
circumstances. It is very difficult to estimate the
cost of having a baby and starting a family.

The costs of raising a child vary according to who you ask, for example:

Lifestyle Change

Starting a family means a new lifestyle. Your shopping will include lots of new items like baby food, clothes, a cot, pram, push-chair and so on.

Government Support

There are various forms of Government support and benefits you may be entitled to when raising a child.

Saving for Education

If your children are planning to study in the future, it is a good idea to start a savings plan now.

Vacation Budgeting

If a family and two children book a week's apartment holiday in Spain for £1000, how much do they need to budget?

Children and Money

Children who know about money and how it works are more likely to be able to manage their finances competently as adults.

Advice Guide

A useful advice guide summarising the key information and advice in this section.