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Tip 1: Working out what you’ll need

Your baby will need certain items in the first few weeks that you may not need to use again. So it might be a good idea to think about renting them or buying them second-hand.

Tip 2: Check ups

Newborn babies will generally need regular visits to the doctor or health care nurse for routine check-ups, and unexpected visits. These could add up financially so consider how choosing between the public or private health system could impact your finances.

Tip 3: Baby bonding time

Find out if you’re able to take maternity or paternity leave and check in with your employer to see what entitlements you’re eligible for. You should also familiarise yourself with any government services available for new parents.

There are many programs and resources to help you manage the cost of caring for a newborn baby.

Child rebate

Many parents may need child care so they can continue to work, train or study. If you're eligible, you could receive a 50% rebate on expenses up to $7,500 per child, per year^ from the Government.

Learn more

Paid parental leave scheme

Mums (or partners) could be eligible for up to 18 weeks leave and receive the national minimum weekly wage from the Government. To qualify, you must be the primary carer, meet the paid parental leave test, be permanent  Australian resident and have an individual taxable income of $150,000 or less in the previous financial year^.

Learn more

On our 200th anniversary, every child born in 2017 is eligible for $200.

If your parent opens a Westpac Bump Savings account in your name between 8 April 2017 and 31 May 2018, we’ll deposit $200 into it which you can withdraw when you’re 16*. Because you may not be with us yet, but we’re proud supporters of you from day one.

Conditions apply. Express interest

How we could help

Protection against the unexpected

With Life Insurance, you can have peace of mind knowing your family will be taken care of should things take an unfortunate turn.

Preparing for the next chapter

A qualified financial adviser could help you get your finances in good shape for your next life stage.

A place to call home

A new family member may mean it’s time to upgrade or renovate your home. Our Home Loans could help.

Getting a Super boost

Check if your employer makes contributions while you’re on parental leave and also consider partner contributions.

Things you should know

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you. If you need help, call 132 032.

*Offer may be withdrawn or extended at the bank’s discretion. The child must be born in 2017 and have a permanent Australian residential address. The account must be opened in the child’s name by the parent or legal guardian. $200 will be deposited if the Westpac Bump Savings account is opened and the child’s identity verified by 31 May 2018. Deposit will be made within 3 business days of ID verification. $200 offer limited to one per person. $200 will be available to withdraw in the month the child turns 16 and will be forfeited if the account is closed prior. Read the terms and conditions available from 8 April 2017 at before making a decision and consider whether this product is appropriate for you.

Credit criteria, conditions, fees and charges apply.^

© Commonwealth of Australia.

© 2016 Westpac Bank – A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.