Organising finances
The arrival of a baby means an extra person to look after. This may be your first child and so up to this point, you may have been spending your money however you like. Things must change now that you have the responsibility of looking after another being. Organising your finances includes budgeting, saving and setting up support payments. Becoming a parent includes a variety of different financial obligations and as a parent, it is your responsibility to fulfil these obligations.
As a parent, you may need to consider the financial costs of the following:
- Nursery equipment
- Hospital fees
- Obstetrician fees
- Pregnancy classes
- Baby necessities such as clothing, nappies, formula etc.
Some of these costs are large in numbers and so budgeting and saving money will assist in having enough money for the child once they are born. This will impact the child as they are sure to have an adequate standard of living supplied by their parents who have put time into organising their finances.
There are a range of support payments available to parents from the government that will assist in the arrival of your child. These payments include:
- Child care rebate
- Family tax benefit
- Dad and partner pay
- Parental leave payment
Accessing these payments will assist you in covering some costs when becoming a parent and ensure that the child is able to access things they need without jeopardising other aspects of their needs.
As a parent, you may need to consider the financial costs of the following:
- Nursery equipment
- Hospital fees
- Obstetrician fees
- Pregnancy classes
- Baby necessities such as clothing, nappies, formula etc.
Some of these costs are large in numbers and so budgeting and saving money will assist in having enough money for the child once they are born. This will impact the child as they are sure to have an adequate standard of living supplied by their parents who have put time into organising their finances.
There are a range of support payments available to parents from the government that will assist in the arrival of your child. These payments include:
- Child care rebate
- Family tax benefit
- Dad and partner pay
- Parental leave payment
Accessing these payments will assist you in covering some costs when becoming a parent and ensure that the child is able to access things they need without jeopardising other aspects of their needs.