When you become a parent, there are all sorts of things that start running through your home. You consider the invincibility that you once thought you had. There are worries about finance, along with your home situation and your health. Then suddenly life seems to get faster, the years roll by and you’re thinking about university fees, weddings and grandchildren. There are both short term and long terms worries when you become a parent. Let’s take a look at parenting during a cost of living crisis and how we can adapt and learn as we raise our kids.
The Impact
Becoming a parent is a magical time. We often long for a family of our own, finding someone to have children with and maybe even go through health complications to actually bring our children into this world. However, there can be a lot that clouds the joy and excitement of becoming a Mum or Dad.
There is a huge link between money and mental health. This is why it has been so difficult for many people parenting during a cost of living crisis. With that said, being able to get a handle on your personal finances will allow you to have more headspace for the happy moments in life. There will be sleepless nights with children, but they should be about the child, not about your finances. If you know your budget, spend what you have wisely (you do have to spend some cash when you have a baby!) and keep on top of things, you’ll be able to navigate your way through.
The Research
If we take a look at some new research, we’ll see it reveals that 90% of mums worry more about money once they are expecting or have a newborn baby. That’s 9 out of 10 mothers! That’s a huge impact that this life-changing event has on your financial thoughts. More than half (51%) also described that their feelings were anxious or worried.
There are an array of concerns, with the top three being as follows. 81% of those asked were concerned about household bills, 61% were worried about childcare costs and around half (49%) were concerned about returning to work once maternity leave ended.
Parenting during a cost of living crisis is no joke. One of the areas that concerns me as a money blogger, trying to help people with their finances, is that 43% of those polled were uncertain or confused about their maternity pay, the benefits they could claim and the whole aspect of tax credits. 41% of those questioned would like better advice in this area. There should be a better way to access this information, rather than relying on searching online for yourself. There is enough to worry about without adding extra on top.
This research has been conducted by Graco UK, to support the campaign Family Matters. If you head over to their Instagram account you will find that the company are using their platform to help parents with guidance and advice on a range of subjects. They will also be gaining the insight of parent experts to help put worries aside. This is invaluable for expectant, new and already-established parents alike.
Quality & Longevity
As mentioned above, we do need to spend some money when we have children. They need things we simply don’t have before becoming parents. From car seats and bottles to nappies and clothing. One of the best things you can do though, is focus on quality and longevity. You want what you buy to last.
This is where Graco UK have come up trumps, with exceptional value and even a reduction in prices. As a father of three, I am a proud Graco user, as we bought a Graco travel system when we had our firstborn. This lasted through child number two (three years later) and child number three (three years after that)! I reckon if we had gone for a fourth child, we’d have still relied on the same travel system as it has plenty of miles left in it.
For those parents looking at a bedside cot, the award winning Sweet2Sleep retailers at just £80. This is such an affordable way of co-sleeping safely. Keeping child within arms reach will help you both sleep well and wake up feeling well rested and ready for a new day. For those wanting a stand-alone car seat, the Turn2Me i-Size R129 grows with your baby from birth to approx 4 years old. At only £149, this is something that will last throughout those first few years. What’s more, it rotates so you don’t have to struggle and damage your own back when you put your bundle of joy into their car seat.
If, like us, you are searching for a travel system that will do various things and last for a number of years, the Graco Near2Me Travel System & Car Seat is a great option. This bundle deal gives you change from £400 when you buy it from Smyths. Enjoy car rides as a family, early morning walks and afternoon snoozes, all within the same easy-to-use travel system.
Final Thoughts
There are many ways to save money when you enter parenthood but parenting during a cost of living crisis isn’t easy for anyone. Stressing about long term things won’t help the short term. It is much better to get your short term issues in order before focussing on the future.
Consider places like Facebook Marketplace for clothing bundles. Make sure to click through cashback sites when you make new purchases. Bank switching can give you a quick cash injection and reading up on your benefits entitlement before you give birth is important.
Be sure to keep in touch with your employer and consider what you want to do once your maternity leave ends. Many Mums want to return to work but some of them consider freelancing or starting up their own work around their new baby. Find ways to stay on budget and do what works for your family situation.
Be careful and clever with your money, enjoy every moment because they grow up too fast, and remember, Family Matters.
