Finder makes money from featured partners, but editorial opinions are our own.

Finder’s Parenting Report for 2021

Finder's research reveals how Aussie parents are managing their finances and how they are teaching their kids about money.

Sophie Wallis's headshot

By

Sophie Wallis

Updated

Fact checked

Finder's Parenting Report 2021

Picture not describedParenting has undergone quite the makeover in recent decades. Technology and smartphones are becoming a bigger part of kids' lives, and a growing number of children have savings accounts and even share trading accounts. More recently, the COVID-19 pandemic has had a profound impact on Australian parents. Learning to navigate caretaking and homeschooling amidst a global crisis, while also dealing with the effects of the recession on family finances, has made raising children more challenging than ever.

Finder's Parenting Report 2021 delves into the data and trends underpinning family finances. We surveyed over 1,000 Australian parents of children under 12 to find out how they manage their budgets with children, how they teach their kids about money and finance, and how they navigated pregnancy and birth, among other insights. Finally, Finder's experts offer their words of experience on how to navigate family finances.

Download Finder's Parenting Report 2021.

Key statistics

Picture not described

Tips from the experts

Prepare for parental leave. You don't want to be stressing about having to go back to work as soon as your paid parental leave ends. Instead, try to save up early on, thinking about how much money you need for living costs while you're not at work. Having enough money to take 6–12 months off means you can get back to work sooner if you want, but without the pressure to do so.

Switch to family health cover. Finder analysed the cost of kids and found parents spend an average of $1,391 per year on healthcare and medical costs. Don't wait until your child needs braces to start thinking about health insurance. Switching to a family health insurance plan as soon as possible means not having to worry once your child starts to need a dentist or optometrist.

Get on the front foot with savings. Take advantage of the power of compound interest by setting up a savings account for your child early on. Not only will this help them to build their money over time, but it's also a great way to teach them about the importance of budgeting. To make the most of your little one's money, find a children's savings account that offers bonus interest.

Sophie Wallis's headshot
Written by

Analyst

Sophie Wallis is a senior insights analyst with a passion for data storytelling. She spends her time turning complex data into digestible stories and uncovering new consumer trends. When she isn't working, you'll find her planning her next overseas holiday or bingeing on a big novel. Sophie has a Bachelor of Economics from the University of Melbourne. See full bio

More guides on Finder

Ask a question

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site