Having a baby
25/06 - Category: Family, Health & Wellbeing
"Children reinvent your world for you." -Susan Sarandon
Discovering you are pregnant is one of the most exciting moments in life. A new baby triggers feelings of elation, excitement and possibly surprise. But once the emotions settle and reality sets in, there are other more practical issues to consider.
Thinking about how you will handle things like loss of income, your own physical needs and how to accommodate an expanding family is important when it comes to planning for your future.
These days, many Australian households rely on two incomes, and until the national paid parental leave scheme is in place in 2011, having a baby more than likely means a loss or reduction in your income for a period of time.
And the cost of having a baby doesn’t start when the child is born. For example, you may need to budget for antenatal care, which is the care you receive during pregnancy. And if you choose to have your baby privately, while it means you are able to choose your own doctor, it is likely that there will be some out-of-pocket expenses, even with private health insurance. It’s a good idea to ask for an estimate of what these will be. As a public patient in a public hospital you may receive the same level of care as a private patient although you don’t have a choice of doctor or room, but you will not be charged any fees.
Beyond the cost of healthcare, a new baby can often mean a new car, moving house or renovating. And the temptation to buy every accessory that babies require can be strong. When my first baby was born I had everything - baths, bouncy chairs, slings, prams, wraps, toys, mats - it goes on! By the time the fourth arrived and I knew exactly what I needed and didn’t bother with anything else, the amount had virtually halved. It’s worthwhile to talk to others to determine what you really need, versus what you think you do.
If you plan to return to work, then childcare will also be a major expense to factor in. Options range from centre-based childcare like long-day and after-school care, in-home care like a nanny or au pair or less formal arrangements like family or friends. Getting the mix right can take time, and planning it can also evolve as your needs and those of your child change.
For more information, you may want to download a copy of ANZ’s Having a baby LifeGuide, which has a range of tips to help you plan for and look after your new arrival.
