Having a baby

There are over 300,000 babies born in Australia every year.

Babies can bring allot of joy - but boy (or girl!) are they expensive!

Some studies have shown that babies in their first year cost between $10,000 to $15,000 in expenses plus the lost cost of income.

As babies grow, often financial obligations do too.

Moreover, often when women have babies this is the start of the $120,000 super gender gap.  That is women (in 2016) retired on $120,000 less than men in their super accounts.  Often women take time off work and return part time which means that less income -> less super. 

There are a few ways for you to get financially empowered when you're having a baby:

1. Get things in order - clear the debts!

2. Save up for baby expenses and loss of income in first year (with a buffer) 

3. Ask your partner (if relevant) to your super fund (and get this happening)

4. Create a forward looking budget - and live within your means!

5. Get your family protected - this means insurance & estate planning

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We are not financial planners, but can give you direction on what people like you are doing, help you complete the steps, give you factual information and general advice.