Tuesday 8th of December 2009
A new survey has revealed that it is mums, rather than dads, who are more stressed about the arrival of a new baby.
The expense of expanding a family could mean your attention has been turned to your unsecured debt levels as you may know that constantly relying on credit cards and personal loans will not help your family’s future financial security.
You could have already discovered that individual voluntary arrangements (IVA) are one way to clear debts over £15,000 but you may still have a few questions on IVAs, in particular, will your family home remain in your possession.
Indeed, a new poll from Aviva shows that a fifth of first-time dads are sorting out family finances during their partner’s pregnancy, while over a quarter are worried about the dent in their household coffers in the first six months of their child’s life.
Louise Colley, head of protection for Aviva, says: "As a parent myself, I found that some basic financial behaviours can help you to feel much more in control and prepared for supporting a baby."
You may be reassured to hear that as long as your keep up with your monthly, manageable IVA repayments there is no reason why your expanding family cannot remain in your current home.
By Rachel Powell
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- An IVA could help you meet your dream of paying off your mortgage
