The research revealed that 90% of mums worry more about money once they are expecting or have a newborn and over half (51%) describe their feelings as anxious, and worried. The top financial concerns are household bills (81%), affording childcare (61%) and returning to work after maternity leave (49%).
Two thirds (63%) of the mums revealed that finances are affecting their mental health, with just under half (46%) admitting it is affecting the relationship with their partner.
To deal with this pressure, many mums have made changes to their lifestyle. Over half, (59%) are buying second hand clothes and second-hand baby items (54%), cutting spend on days out (57%) and not taking holidays (50%).
In more extreme cases, 17% of the mothers have returned to work from maternity leave earlier than planned, almost two thirds (61%) have reduced their food bill, 8% have applied for social housing, 6% have sold their car and 4% have had to move house. In life-changing consequences, almost two in 10 (17%) have cancelled plans to extend their family.
In terms of their rights, 43% are uncertain or confused by maternity pay / benefits / tax credits and 41% would like better advice in this area.
It’s clear that so many are struggling, so we had to see how we at Graco could help. Family Matters was created to help support all parents through this difficult time. We have teamed up with a fantastic team of parent experts who have a valued reputation for helping others with money concerns, mental health advice and more!
