Mummy Money Worries: How To Stop The Pinch

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Starting a family can put a strain ona1.jpg your financial situation. Maternity pay never stretches as far as you think, baby items always cost more than you expect and when you return to work, childcare can be expensive. If it’s your first baby you may fall prey to spending lots of money on furniture, gadgets and clothes your baby just doesn’t need. And you may already be totting up how much school fees, uniforms, birthday parties, toys and after school clubs are going to cost in the future. Today we’re going to take a look at how to tackle some of those Mummy money worries.

Maternity Clothes

Don’t fall into the trap of spending a lot of money on maternity clothes. After you’ve had a baby you’ll never want to see those huge elasticated pants again! Instead see if you have friends who you can borrow maternity clothes from. Or buy cheap at H&M or ASOS. These clothes are only a temporary fixture, so no need to waste a lot of money here.


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Cashback And Deals

Look online for deals on baby goods and check local supermarkets for multi-pack and bulk buys. Baby wipes and nappy sacks are often on offer at the supermarket and you can get super deals on nappies on Amazon. If you are using credit cards always make sure to get ones with cash back deals as this can save you £100’s over the year. Cashback cards can give up to 5% cashback on the first three months. Other cards offer things such as 1% back on fuel and supermarkets shopping. If you want to treat yourself to a new hair cut but can’t justify the spend, why not sign up for a model night where you can get a fresh new cut for free. And when it comes to baby, remember that they don’t really need most of the stuff that is advertised! A lot of it is just gimmicks. So don’t be persuaded by the subliminal powers of advertising. Nappies, milk, love and a safe place to sleep are what will mostly make your baby happy. So don’t necessarily buy lots of equipment before your baby arrives. Wait to see what you need as and when.


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If you have a new baby and you are already struggling with debt you may want to consider consolidation loans to put everything you owe all into one debt. Debt consolidation means that all your credit card loans are put onto one card so you then only have one monthly payment to make. It will be lower than what you are already spending so it is worth investigating if you are really stuck with payments. Just remember that you will spend more in the long run and the loan is usually secured against your house. However, if having one lower monthly payment takes a lot of worry off your shoulders, it could well be an option.


Also, always look into what benefits are available to you and if you are receiving the correct amount. You can get £20.70 a week in child benefits for your first child, providing your family income is not over £50,000. You will also want to look into child tax credit and working tax credit, which will be dependent both on your income and how many hours you work. Also, take a look into paid paternity leave, as Dad’s need some time off too!


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