A baby changes everything, including your money.
Parental leave, childcare, single-income periods, school costs, life insurance and a long-term plan that now has another person in it. We help Australian parents turn the financial side of family life into a plan they can actually live with.
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What's happening
- You are expecting a child, or your family is growing, and the household budget is about to change shape.
- One income may drop during parental leave while fixed costs keep going.
- You are weighing up childcare, return-to-work timing and whether the second income still stacks up.
- Your life insurance, will and super beneficiaries may not reflect having a dependant.
- You want a plan that makes room for both family life and long-term wealth.
What to think about as the household grows.
- 01
The income drop is bigger than it looks
Paid parental leave, accrued leave, employer top-ups and partner income each interact with tax and Centrelink. The net household drop is rarely what couples first assume, so it pays to model it properly.
- 02
Life and TPD cover gaps
Most parents are underinsured the moment a dependant exists. We model the cover you would actually need, usually held inside super to keep the premiums efficient.
- 03
Childcare and the second income
After childcare, tax and the loss of subsidy, a second income can have a surprisingly low effective rate. It is worth modelling whether to return early, late or part-time.
- 04
Start education funding early
Whether you choose public, private or a mix, starting an education fund early and in the right structure is one of the highest-impact moves a family can make.
- 05
Update wills and guardianship
Most new parents do not have an updated will, a guardianship plan, an enduring power of attorney or current super beneficiaries. The fix is straightforward and usually overdue.
- 06
Revisit the mortgage repayment plan
Repayments structured for two full incomes can quietly choke a single-income household. A repayment adjustment, offset use or refinance can ease the pressure without losing the long game.
How we help
Insurance advice
We size life, TPD and income protection cover to your real obligations, usually inside super, so your family is protected without overpaying.
ExploreBudgeting and cash flow
We build a sustainable household cash flow with a buffer that holds up through parental leave and the return to work.
ExploreWealth management
We keep the long-term wealth and education plan moving so it does not pause every time life happens.
ExploreQuestions we hear most often.
Have a question that is not here? Call 07 3399 2300 or book a consultation and we will answer it directly.
When should we see a financial adviser as new parents?
Ideally during pregnancy, before parental leave starts. The biggest decisions, leave timing, mortgage adjustments, insurance and will updates, all benefit from being made before the income drops. If the baby is already here, the next best time is the month you both return to work.
Should we get life insurance now we have a child?
Almost always, yes. The right cover replaces enough income and clears enough debt that your partner and child would not be financially destabilised. We size it precisely, usually held inside super for tax efficiency, and avoid overpaying for headline products.
Should one of us stop work, or both go part-time?
After childcare, tax and Family Tax Benefit interaction, the second income often has a much lower effective rate than couples expect. We model full-time, part-time and home-based work side by side so the decision is grounded in actual household economics.
What happens to our super during parental leave?
Most employers do not pay super on government-funded Paid Parental Leave, which can open a long-term gap, especially for the lower-earning partner. We model spouse contributions, contribution splitting and the government co-contribution to keep the retirement plan on track.
Build a household plan you will both stick to.
Get a written family-stage plan covering parental leave, insurance, estate basics, education funding and the next five years.