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How-to Guides » OLD GUIDE Cut the cost of having a baby

Having a baby can cost a small fortune. Here's how to keep your costs down – and set your baby up, financially, for life!

Make the most of benefits

How-to Guide Tips 2 tips on this task  | 

1) Get your Health In Pregnancy grant

No matter what your income, if you're 25 weeks' pregnant or more, the Government will now give you £190 in the form of a Health In Pregnancy grant.

Read more about the Health In Pregnancy grant.

2) Claim Child Benefit

You can claim Child Benefit as soon as your baby is born - just fill in this form.

You'll get £20 a week for your eldest/only child, and an extra £13.20 for any additional children. It's not means-tested, so you can claim it no matter what your income is. Find out more here.

3) Get £250 to start a Child Trust Fund

As soon as you start claiming Child Benefit, you should automatically receive a free voucher of at least £250 to use to start a Child Trust Fund.

If you don't get a voucher within a month of your claim, call the Child Trust Fund helpline on 0845 302 1470.

Find out more about Child Trust Fund saivng plans here or request one of our free financial guides.

4) Claim tax credits

According to HMRC, nine out of 10 families with children are entitled to tax credits. The rules are complex, but to sum up, there are two types: Working Tax Credit (worth up to £1,770 a year to couples and lone parents) and the Child Tax Credit (worth up to £545 per family, and £2,085 per child, per year).

Get a free guide to Child Trust Funds

Watch our video guide on how to cut the costs of having a baby!

Want some more advice on baby benefits? Why not ask a question using our Q&A tool? You may find that other members of lovemoney.com have experiences they can share which will help you.

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Tips on this task (2)

  • BeckyMarg
    Love rating 2
    BeckyMarg said

    I gather that you can get help with 80% of childcare costs. Direct.gov said this was available from the child being 3 years old. However, a colleague's wife claims to be getting childcare paid for and her child is only 6 months old. Does anyone know what benefits/grants/help you can claim for childcare?

    Report on 15 January 2010  |  Love thisLove  0 love
  • emma
    Love rating 4
    emma said

    hi Beckymarg

    Just seen your comment - you may find this articcel helpful!

    What Working Parents Need To Know

    Report on 10 March 2010  |  Love thisLove  0 love

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