Par­ents

The Weekend Post - - News -

PAR­ENTS are drown­ing in the ex­pense of hav­ing a baby and are go­ing into mas­sive debt as a re­sult. News Corp Aus­tralia can re­veal a sur­vey of 1002 Aus­tralians in July found one in five par­ents had to re­turn to work ear­lier than planned due to fi­nan­cial stress af­ter hav­ing had a baby. Alarm­ingly, one in 10 fam­i­lies said they had re­lied on credit cards to cover ba­sic liv­ing costs in the first year of their baby’s life. The re­search, con­ducted on­line by PurePro­file on be­half of Mozo, also found nearly 70 per cent of Aus­tralian fam­i­lies with an in­fant felt some level of fi­nan­cial strain in the first year of their baby’s life and one in five par­ents found the ex­pense of a new baby was more than they had an­tic­i­pated. Nearly half of all par­ents ex­pect­ing a new bun­dle of joy are mak­ing a con­certed ef­fort to bud­get and fi­nan­cially pre­pare be­fore the birth of their baby, but de­spite their ef­forts, many are strug­gling to make ends meet and cover costs.

Mozo di­rec­tor Kirsty La­mont said the re­search high­lighted the ris­ing cost of babyre­lated items such as nappies,

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