You may never be ready to have a baby, but new research shows that almost half of people would like to be more financially prepared before they become parents.
A huge 49% of parents with children under 12 years old wished they had saved more before having their first child according to the respondents at Finder.com.au. poll.
And nine percent would have preferred to be debt free before starting a family, while 12 percent regretted not buying a house before welcoming their firstborn.
Nine percent would have preferred better job security and eight percent favored being higher in their careers before committing to the ongoing costs of having a child.
A new survey conducted by Finder.com.au found that 49 percent of respondents with children aged 12 or younger would have preferred more savings before having their first child
The survey of 2,013 parents shows that money problems are not exclusive by age, with more than 49% of first-time parents of 40 and who wish to have saved more, compared to 51% in their 30s and 46% in his 20s.
The median age of all mothers for births registered in 2016 was 31.2 years and the median age of the parents was 33.3 years, according to the Australian Bureau of Statistics.
According to the Australian Bureau of Statistics, the average age of all mothers for births registered in 2016 was 31.2 years and the average age of the parents was 33.3 years
Kate Browne, a personal finance expert at Finder.com.au, said that age meant nothing when it came to preparing for a baby.
"Even though many parents wait until they are thirty or forty to have children, these parents are not necessarily more financially secure," he said.
"If one or both take a break or reduce their hours, this could mean that they will gain less at a time when they will potentially need more."
"A good savings is a good idea, no matter what stage of life you are in."
Ms. Browne urges new parents to have a savings plan to be prepared, since switching from full-time work to part-time work can lead to financial challenges.
The most recent survey by the Australian Bureau of Household Expenditure Statistics revealed that, on average, a single person under the age of 35 spends $ 849 per week compared to $ 1833 for a couple with a child under the age of five.
First-time parents must have a savings plan to be prepared, since the change from full-time work to part-time work can lead to financial challenges
ABS chief economist Bruce Hockman said families had to spend more to survive with education as a big driver of costs.
"We are seeing an increase in spending for families with children in many areas," he said.
The increase in education spending came mainly from spending on school fees, which increased by almost half between 2009-10 and 2015-2016.
"Expenditure on child care also increased significantly, almost doubled during that six-year period."