Baby or Bust Financial Planning for new parents & parents to be

A totally unique book in which financial wisdom and the advice of a mother of four are combined.

700 new babies are born in Australia every day, making childbirth, by all accounts, a pretty commonplace event..... but for each set of parents the events unfolding are far from ordinary.

The arrival of a new baby is always cause for celebration, but it can bring stress to a couple coming to terms with new financial challenges. With so much about to change in new parents' lives, financial planning rarely gets top-billing, but by not properly planning for your family's future you could leave yourself open to complications later down the road.

some costs associated with new arrivals are obvious - clothing, food and nappies, but what about the hidden costs of raising a child of which most parents are unaware? Many couples find themselves living on one income for some time - coping on a single income when you are used to two can be difficult, as can covering childcare costs should you go back to work.

In 'Baby or Bust', author and mother of four, Nicola Field, explains how by following some simple strategies, parents can gain control of their money to smooth the path of parenthood and establish lifelong financial security for themselves - and their children.

'Baby or Bust' is designed to get you over a number of hurdles in parenthood, the book offers advice to parents on planning for a baby, taking maternity leave, how to live well on one income and the pros and cons of returning to the workforce.

Nicola Field's advice is more than just that of an financial expert's having brought up four children of her own, she understands what first time parents are going through and recognises their concerns.

Your bundle of joy comes with a bundle of financial considerations - everything from managing the mortgage on one income to paying for your child's education. So from the moment you decide to start a family it's worth taking the important step of getting financial fit for parenthood.

With lots of easy to follow tips and plenty of good, sound money advice, this entertaining and informative book is a must read for anyone about to start a family. You may not be able to stop the baby from crying at 3am but at least you won't be lying awake worrying about the family finances.

TOPICS
Deciding when to have children
Managing the extra costs
Living well on one income
Taking parental leave
Working out which government benefits you are entitled to
Saving for your child's education

Nicola Field is a mother of four and former chartered accountant. She is a contributor to numerous publiccations including Money Magazine, The Bulletin and Real Living Magazine. Nicola also wrote: Financial Snakes and Ladders with Paul Clitheroe.

Review: Many people underestimate the responsibility of becoming a parent. A baby represents many changes for parents. We often associate new babies with sleepless nights, mountains of dirty nappies and lots of really cute clothes, but having a baby is actually a big financial responsibility and requires so serious planning. Great insight into what lays ahead.