Parents guide to money launched
10:52am Thursday 29th November 2007
Ed Balls, Secretary of State for Children, Schools and Families, is in Leeds tomorrow (Friday, November 30) to launch the trial of a new guide from the Financial Services Authority (FSA) to help parents understand and manage their finances.
The Parent's Guide to Money, being trialled in Yorkshire and the Humber, is a comprehensive guide to all the financial aspects of the arrival of a baby and parenthood.
The guide is a free 'one-stop' information pack of leaflets, contained in a baby-proof folder. The leaflets deal with a range of financial information which might concern new parents, such as budgeting, benefits advice, childcare costs, maternity and paternity rights, savings and work. The guide also includes a CD-ROM for use on a PC with a number of easy-to-use calculators to help balance family finances.
The FSA has funded and developed the guide, working closely with parents and the professionals who work with them. The guide is being trialled in the Yorkshire and the Humber region, in partnership with the Strategic Health Authority and the regional Government Office, before being rolled out across the country.
Midwives will distribute the jargon-free guide to expectant mothers. Health visitors, Children's Centre staff and other support workers will provide additional advice to young parents.
Chris Pond, Director of Financial Capability at the FSA, said: "The trial of the Parent's Guide to Money with expectant parents in Yorkshire and the Humber is a groundbreaking event - their experience will shape the help for expectant parents around the country.
"The arrival of a new baby can turn parents' lives upside down - there are a hundred and one things to think about, including finances. We hope that the Parent's Guide makes them feel more confident about managing their money to help give their child the best start in life."