City watchdog to advise new parents on moneyFSA will give packs to pregnant women
20 February 2008
The City watchdog is to give special packs to pregnant women offering them advice on managing their finances once their baby arrives.
The Financial Services Authority (FSA) packs will contain information on budgeting, benefits parents may be entitled to and child trust funds.
The packs, which are written in straight forward language with no jargon, will be given to women by their midwife during one of their anti-natal appointments to give them a chance to read the information and plan before they have the baby.
The scheme has already been piloted in Tower Hamlets, Yorkshire and Humberside, Brighton and Blackburn, and the FSA plans to roll it out across the rest of the country later this year after receiving positive feedback.
An FSA spokeswoman said: 'The guide is designed for new parents as having a baby can have quite an impact on your budget.
'It gives people tools to work out a budget. It also gives them information on benefits they may be able to claim and where they can get more information about that.
'Talking to midwives, financial worries can actually be quite a big issue and can be quite distracting.'
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