Financial Planning for New Parents in Australia – What to Know in 2025 Welcoming a baby is exciting—and life-changing. But it also comes with new financial responsibilities. Here’s a 2025 guide to help new parents in Australia plan smartly and reduce money stress. 🍼 1. Create a Baby Budget Include essentials: nappies, clothing, cot, pram, feeding items Set a one-time setup budget + ongoing monthly costs (~$500–$1,000/month) 💰 2. Understand Government Support Parental Leave Pay: Up to 100 days paid leave via Centrelink Family Tax Benefit: Paid fortnightly to eligible families Check your eligibility on Services Australia 🏥 3. Review Your Health Insurance Ensure pregnancy, delivery, and newborn are covered Consider adding your baby to the policy right away 🎓 4. Start Thinking About Future Education Open a high-interest savings account or kids’ investment fund Start small—$20/week adds up to thousands by age 10 🧾 5. Update Your Budget a...