Fashion adding to baby costs
New mothers splash out an average of £1,062 on ensuring both they and their baby look fashionable, it was claimed today.
A recent report by personal finance website MoneyExpert.com showed that parents accumulate an average of £1,140 of debt on loans, credit cards and overdrafts during the first year of their child's life.
The website suggested that many couples resort to borrowing because one parent has had to give up work or cut back on their hours in order to look after the newborn.
However, the findings of a new survey by online bank Egg suggest that perceived pressure from peers and the media for new mothers to look good may also be contributing to the debt.
It discovered mums spend an average of £939 on things for their baby, with many feeling they have to buy buggies and clothes with designer labels.
The average new mum also spends £123 on clothes, haircuts and in some cases the services of a personal trainer, in an effort to ensure they look good.
Egg's chief marketing officer Alison Wright said that it is best to be prepared for this kind of spending in advance, as the arrival of a new baby can cause havoc in a family's finances.
"This is where a little bit of financial planning can go a long way [to] ensuring new mums can enjoy being new mums without having to worry about money matters," said Ms Wright.
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