Research by Aviva has found that first-time parents in the UK spend over £425 million each year preparing for the arrival of their first baby.
That’s equivalent to £1,370 per family.
However, Aviva say that 60% of parents admitted that, in hindsight, they bought things that they either didn’t use or could have done without.
In addition, 27% of expectant or new parents said that they bought or changed their car with an average spend of £2,658, while 25% moved to a bigger house with an average spend of £20,813.
Source: Credit Action – April 2012 edition