14th June 2023
Children are a hefty financial commitment, so we were asking how you would best prepare for them. Almost half of those surveyed reassess the household budget, possibly cutting back on certain bits to make room for the additional ongoing costs. Just over a third looked further forwards, setting up saving accounts to benefit the children when they’re older, and the remaining 16% opted to shop second hand to save money on the baby essentials.
|How did you, or plan to, financially prep for having children?||Results|
Reassess your household budget to prepare for the additional ongoing costs
Set up a savings account for the child to access when they’re older
Shop baby items second-hand and/or stick to the bare minimum
This month we’re asking if you consider the saying that an engagement ring should cost three months wages to be true. Let us know your thoughts here.