Budgeting for the cost of children
Having a baby does not come cheap. But here are some simple ways to keep your household budget under control. See our Budgeting and baby calculator.
Having a baby is a shock to the household finances. Your income may fall if you or a partner has to cut back on work. At the same time, there seems to be an endless stream of things to buy for a child.
Budgeting is a straightforward tool to help you keep control of your household money. You can use it to help you deal with the financial impact of a new arrival and to plan ahead for future expenses as your family grows up.
The first step is to draw up a list of all the money you have coming in and everything you spend. You can use the Budget builder or the calculator on the website. For further help, see the Managing your money guide on the Moneymadeclear website.