It’s no surprise these days that more and more Dads are taking a hands-on role in the home, with Mums taking on greater responsibilities in the workplace. Gender stereotypes are disappearing - quite rightly too. So, are you a working Mum or Dad with a family and financial responsibilities?
Families looking after families
Help and support from your family is key, as is taking good care of yourself so that you can take care of everyone else. And if you can also spend some quality time with your youngsters as well during the week, then, well, you’re in a fortunate position. Not everyone manages it, and most working parents have to consider childcare costs of some kind along the way. Louise Colley knows that. She’s our Distribution Director, here at Aviva. She’s also Mum to 7-year old twins so she has first hand experience, working hard here with us, and working hard with her family at home too.
“Childcare doesn’t come cheap. I know that. I’m really lucky, I get a lot of help and support from my other half but it’s a fine balancing act between us. He collects the twins after school as he starts at 6am – I do the morning drop at our child minder, which is a massive help otherwise we wouldn’t be able to both work.
“But I also know that some parents aren’t so fortunate, and that childcare costs have risen dramatically over the last five years. According to the Family and Childcare Trust, some parents are paying £1,214 more today than they did in 2009. That seems like so much money, but some Mums and Dads are paying thousands of pounds every year … it really can be frightening, how it all mounts up.”
Your family, your needs
Understandably, every family wants to do things their way. Everyone’s circumstances are different, and what works for you may not work for everyone. But what’s true for every family is that a secure income can make a big difference to the child care you choose – and it may be hard to imagine how you’d cope if that income disappeared.
Recently, at Aviva, we launched our latest bi-annual Family Finances report. We discovered most of the parents we spoke to felt fortunate to be able to combine their family life with working, but it also meant someone had to – quite literally – hold the baby. As Louise says, “I’ve been lucky. I’ve been able to juggle working and having a family, but if I put both my ‘mum’ and ‘work’ hats on together for a moment, one thing is crystal clear: it’s never been more important for dual-income families to think about how they’d manage if their finances changed overnight.
Looking at life insurance, looking after your family
It’s well worth taking a few minutes to talk about life insurance as soon as you can. In fact, it may take you less time to raise the subject, and get a quote, than it’s taken you to read this article – which shows just how easy we can make it to find out what a life insurance policy may cost today.