The imminent arrival of your first child, with the extra responsibilities and perhaps the need for more space, should trigger a re-evaluation of your personal financial strategies. One insurance company estimates that it now costs more than D227,000 to bring up a child to the age of 21.
The arrival of a child can mean moving from two incomes funding two people to one income funding three. Alternatively, it can mean funding childcare so that both parents can work. Although employers may provide a workplace nursery or childcare vouchers, these never cover the full cost of childcare.
Please contact us if you need any further advice on this.