How to prepare your finances ahead of a baby
20 September 2016
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Yorkshire Building Society has compiled a list of tips for new parents detailing some key steps and considerations to help them prepare their mortgage, insurance and savings for the new arrival, along with some ways parents can make their money go further when raising their child.
Expecting a baby is an exciting time for parents, but it is crucial that they ensure that they are fully prepared for what the future holds, to avoid any potential issues further down the line.
Tanya Jackson, Head of Corporate Affairs at Yorkshire Building Society, said:
Pregnancy can be a hugely exciting yet busy time for expectant parents. It’s easy for new parents to overlook things at such a busy time, but it’s crucial that they take all the necessary steps to prepare themselves financially for what the future may hold.
The most important thing parents can do is plan finances carefully and factor in all of the costs they expect, including the effects of a likely reduction in income during maternity or paternity leave. Doing that preparation properly can take away any worries or stress and let you focus on the most important things – being a proud new parent.
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