Finances for families

The arrival of a baby can impact on how much money you have coming into the family and how much you need to spend. Think about things such as making the most of your income, adjusting to living on a tighter budget, protecting your family against the unexpected, and building resources for the future.

Financial help

With the birth of a baby your earnings from work may go down or your benefit entitlement may change. However, you may be entitled to financial help through benefits, tax credits and the government’s Working for Families package which provides extra money to low- and middle-income families. This help can include:

• Paid parental leave - paid leave for working and self-employed parents who take leave from their jobs to care for a newborn baby
• Working for Families - a package that provides extra money for low- and middle-income working families, depending on their income. It is designed to make it easier to work and raise a family.
• Family Tax Credits - part of Working for Families. Family Tax Credits helps families with children under 18. It is made up of Family Tax Credit, In-Work Tax Credit, Minimum Family Tax Credit and Parental Tax Credit. You may qualify for one or more, depending on your circumstances.
• Childcare subsidy - helps with the cost of care for children under five and those eligible may get support depending on their income and number of hours their child is in childcare.
• Child support - financial help if your child’s other parent is not living with you.

Other benefits

You may be entitled to other government benefits such as accommodation supplements (for more affordable housing for low- and middle-income families), disability allowances, etc.

This information is not a complete guide to government help. We encourage you to check your own situation with the relevant support service.