If you're expecting a baby in 2018, you're probably all too aware that kids can be costly.
But new research has revealed that the expense starts before the baby is even born, with one in ten adults spending £1,500 preparing for their first child.
Self-storage provider Space Station conducted a study of over 1,000 parents in the UK, to find out what their concerns and hopes were when it came to their first born child.
The study revealed that one in ten adults spend up to £1,500 (13%) preparing for their first born child, with financial worries (43%) amongst the biggest concerns.
When it comes to financing the items needed when welcoming a new child, the research revealed that parents-to-be turn to their own mums and dads for support, with 55% using financial help from their parents to buy clothes, nursery items (40%) and toys (40%).
As well as worrying about the financial cost of having a child, the other top concerns were the child’s future (40%) and not having enough life experience (35%) to look after a baby.
The top ten concerns of new parents are:
- Baby being fit and healthy (54%)
- Financial worries (43%)
- Not having enough life experience (35%)
- Their child's future (30%)
- Tiredness (28%)
- Childcare costs (21%)
- Not having enough space for a nursery (14%)
- Not having enough space in the home (13%)
- Location of the family home (12%)
- Whether the pets will be fine with the baby (12%)
Parents-to-be in Bristol (72%), Norwich (65%), Worcester (67%) and over half of those living in Southampton (51%) and York (50%) were most worried about the cost of having a child.
Despite these initial concerns, the majority of parents (63%) said their main feeling was excitement about becoming a parent for the first time. This was especially evident with those aged 18-24, with nearly three quarters (74%) saying they were excited.
We'd love to hear your thoughts on this story. Does this research echo your own concerns about having a child? And do you have any tips to share with other first-time parents who might be feeling anxious about impending parenthood? Leave us a comment here or come and join the conversation over on our Facebook page.