Contributed by Money.co.uk
22/05/2020 - Money.co.uk
One in ten UK couples say lockdown has led them to plan a new baby, a national study* has revealed.Those most likely to plan for a lockdown baby live in London (18%), the North-east (18%) and Yorkshire & The Humber (14%), according to research by financial comparison experts money.co.uk.
Seven per cent of couples have already fallen pregnant while forced to isolate under the new quarantine regulations, according to the poll.
A third (34%) of couples said they are taking the opportunity to make more time for each other whilst conforming to ‘stay at home’ guidelines.
The personal finance experts at money.co.uk have now prepared a parental calculator https://www.money.co.uk/guides/parental-leave-calculator designed to easily show would-be parents how much maternity and paternity leave they can afford to take off, according to their personal financial situation.
Salman Haqqi, personal finance expert at money.co.uk, said: “It definitely looks like we can expect a lot of lockdown babies to be born in early 2021.
“Ensuring you are financially prepared for the arrival of a new addition to the family is really important, so if you are considering getting pregnant now is the time to start budgeting to avoid any costly surprises when the bundle of joy arrives in 2021.”
Lockdown has meant many couples are spending much less money, so can use that additional disposable income to press ahead with plans to have a baby.
Almost a quarter of couples (23%) said lockdown has meant they’ve had the opportunity to save money and try for a baby immediately. And yet, for most, the decision is an emotional one rather than a mathematical one. More than half (51%) said planning a baby is ruled by their heart, with 49% admitting the decision is ruled by their head.
Under lockdown, what’s the most popular way to break the happy news that a new baby is on the way?
Seventeen percent of expectant couples will tell their loved ones their happy news through a video call via Skype, Zoom or other video apps. 16% would call their family on the phone, 15% will wait until lockdown is over and 12% would tell their family in person but at a safe distance.
Lockdown has made family far more important than ever before, the report shows. Three in 10 of those polled say they appreciate their family more than ever since lockdown started. And 28% say, as a result of being quarantined, they plan to make more time for their family after lockdown. Another 34% say they now speak to their family more than they ever did before lockdown.
The change in the priorities of UK families means a new baby boom could be on the cards too.
Salman Haqqi added: “While having a child at any time is a true moment of happiness for everyone involved, it can also be a time of nervousness and worry. It is important to note that for most couples, ‘is having a baby affordable’ is the prime motivation behind their planning.
“With this in mind we’ve developed our parental calculator – which is designed to offer some reassurance to would-be-parents. Simply answer a few straightforward questions about your personal financial circumstances and our calculator will show you how much maternity and paternity leave you can afford to take off.
“It is also clear we are spending much more time together as families and we are not getting on each other’s nerves either – in fact, just 6% say lockdown has led to family fall-outs, with 30% of the UK claiming lockdown has changed their priorities and made them realise family is now much more important to them.”
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