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Medical costs

This is a great time to check with your chosen public or private healthcare providers to further understand the upcoming costs with the arrival of your newborn. Both public and private healthcare policies may not cover all expenses so it pays to do your research and ask your practitioners what is covered under your policies.

Getting the support

To help ease into parenthood, it’s a good idea to think about the support you may need – especially in those early weeks with the baby. You may consider getting help from family and friends to run household errands or help prepare meals – so you can take some time out to bond with your baby following their arrival.

Getting your home ready

Preparing for the arrival of your baby often involves an extensive shopping list - including a cot, clothes, nappies, infant toiletries, pram and a car seat. But with a bit of budgeting and savvy online shopping, you can help ease that financial pressure. You can set up Savings Goals with the Westpac Life Account to help track your progress.


Planning for the next nine months

Step 1: Keep track of your financial situation

During this time there will be many outgoing costs associated with pregnancy. It’s important to not lose track of your financial situation as these costs quickly add up. Keeping your family budget up to date is a great way to stay on top of things.

Step 2: Consider reducing expenses

Little everyday savings can go a long way. See where you could reduce expenses by dividing your expenses into two categories – essentials and nonessentials. You may be eligible to access a range of options to help support you in this time including reduced payments on your home loan.

Step 3: Protecting your family

With a new family member on the way, now is a great time to take stock of your most valuable assets and protect your family in the times they need it most. There are a range of insurance options available to cover your home, contents and life.

 

 


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.
 

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Any recommendation made in this communication does not take your objectives, financial situation or needs into account. Read the terms and conditions at westpac.com.au before making a decision and consider if the product is right for you. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714