Member Article

Couples delaying baby plans over financial fears

Couples are putting off having babies due to concerns over their ability to look after a child financially, according to a survey for last week’s Financial Planning Week.

Almost two-thirds (61%) of respondents say their financial position will impact on their decision to start a family.

However, few are doing much to improve their situation with two-thirds saying they have not looked into how to best achieve their financial goals.

Nick Cann, chief executive of the Institute of Financial Planning, said: “This survey suggests people are holding off on having children because they don’t think they can afford to give them the type of comfortable upbringing we all wish for as a young family.

“However, if they sat down and considered their goals and ways to achieve them, they may realise their dreams are not as out of reach as they believe.”

The survey also found more than half of respondents (53 per cent) are failing to budget each month to ensure they are living within their means.

This was posted in Bdaily's Members' News section by Ruth Mitchell .