Having children
If you are planning to have children, big changes are on the way, not least to your personal finances. Your children will have different needs at certain stages of their lives, so early planning and research are important to help you cope with additional expenses, such as:
- medical costs when you are pregnant
- once off costs for baby equipment, clothes etc
- increased household spending on baby food, nappies etc
- ongoing large costs such as childcare
- future costs, for example for your child's education
- emergency fund savings - you should try to set aside at least 3-months salary.
Read our 3 stage plan to help you manage your money if you're planning a family.
| Stage 1 – Money planning before your baby is born |
| Stage 2 – Making provisions when you have children |
| Stage 3 - Planning for your children's future |