Num­ber crunch

Pregnancy Life & Style - - GOOD ADVICE -

QMY HUS­BAND AND I HAVE JUST FOUND OUT WE ARE EX­PECT­ING A BABY – IT’S A BIT OF A SUR­PRISE AS WE WERE HOP­ING TO SAVE FOR A FEW MORE YEARS BE­FORE START­ING A FAM­ILY. HOW WILL WE COPE FI­NAN­CIALLY?

AMoney magazine se­nior writer Su­san Hely says: Money wor­ries are com­mon among mums-to-be, and for good rea­son – many women fo­cus on fall­ing preg­nant and only later fig­ure out how they’re go­ing to af­ford a baby on a sin­gle in­come.

Preg­nancy is the time to knuckle down and save, even though there is a temp­ta­tion to think of it as the last chance to take that hol­i­day with­out a baby or to buy lots of lovely baby equip­ment. Sit down and go through your fi­nances, which in­cludes list­ing all your baby-re­lated costs, and what gov­ern­ment tax ben­e­fits you can claim.

The most pain­less way to save is to have an au­to­matic de­duc­tion made from your pay into a high-in­vest­ment ac­count, prefer­ably a bonus-saver style of ac­count. Shop around be­cause there are good in­tro­duc­tory rates on of­fer.

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