“Babies are expensive!” says bank looking for business from new parents

Despite being prohibited from sale on the open market, it’s hard to deny that children are expensive creatures – a point which was rather well made in the Daily Mail recently:

The baby buffer: Parents-to-be put aside £2,547 to pay for their new arrival as the cost of starting a family rises

From university fees to pocket money allowances, everyone knows that children don’t come cheap. 

And according to the latest research, typical parents-to-be have a ‘baby buffer’ of £2,547 in the bank to prepare for their new arrival.

A detailed study into the financial implications of bringing a baby into the world found that most of the money goes on the practical aspects of having a baby such as buggies, cots and car seats.

Source: Daily Mail, 22 January 2013

It’s a radical suggestion, of course, that procreating can be a strain on the bank balance – file this story firmly in the ‘confirming what everyone already knew’ drawer. 

Speaking of bank balances:

Simon Healy of new British bank Aldermore, who carried out the research, said: ‘It is a wise move to start thinking about saving before you start to plan a family but it’s not always possible.

‘If children are on the horizon, it is a good idea to put something away every month or so. 

‘It all adds up and may help ease the financial burden when the new arrival makes an appearance.’

In fact, this whole story was based on a press release from Aldermore, a new bank looking to claim a share of the young-family market.

The research was, unsurprisingly, carried out by 72 Point’s Onepoll – who helped create a press release which was picked up by Bianca London of the Daily Mail, with a remarkable 84% of the copy used verbatim.