How do pregnant women think about their family's future finances?

As the family grows, it is more important than ever to start looking at family finances, especially in these times of a tough economic climate. We wanted to find out how pregnant women and their partners think and plan when it comes to the finances of a growing family. Therefore, we conducted a user survey based on responses from 350 pregnant women in the Baby Journey app.

Concerns about family finances already in the first trimester

For the majority, as many as 61%, planning for family finances starts as early as the first trimester of pregnancy. This is to make sure, and make a plan, that the finances will work out. 

65% of all respondents say they are worried, or somewhat worried, about the increased costs of having a child, while 35% are not worried at all. At the same time, only 1 in 4 say they actually know the cost of having a child and up to 20% say they have no idea about the cost of a child. 

Do you know how much a child costs?

Yes 25 %
Well, about 56 %
No, no idea 19 %

Save or consume?

Laying a good financial foundation requires an awareness of what your personal finances look like. When we asked pregnant women to rate their overview of their own finances, as many as 70% responded that they have a very good overview. Only 1 % felt that they had no overview at all.

For most people, having a baby comes with a lot of purchases, while a safe buffer and child savings are two types of savings that could be more valuable. Despite the intense buying period of pregnancy, more than 4 in 10 say that their focus during this period of life is on saving. By the end of the pregnancy, the third trimester, more than 80% already have or plan to start saving for children. 

How do you plan to allocate parental leave?

Parental leave is, of course, an important part of planning the family's finances. At the beginning of the second trimester, half of the pregnant women say they have decided how to divide their parental leave. A few weeks later in the pregnancy, 62% of pregnant women then state that they will take parental leave most of the time, while 11% state that they will share it equally with a partner.

Understanding how parents-to-be and new parents think allows brands to tailor messages to meet the needs of this audience. Baby Journey are experts in communicating with pregnant women and parents with young children: contact us to find out how we can help you reach the families of today and tomorrow!