Every new mother is to receive guidance about money from this summer under a scheme run by the UK finance watchdog.
Every new mother is to receive guidance about money from this summer, under a scheme run by the UK finance watchdog.
The Financial Services Authority will distribute packs giving information on topics such as budgeting, benefits and childcare options.
The Financial Services Authority will distribute packs giving information on topics such as budgeting, benefits and childcare options.
The FSA thinks some families could save themselves hundreds of pounds by using the guides, which are being rolled out UK wide after successful trials.
The FSA thinks some families could save themselves hundreds of pounds by using the guides, which are being rolled out UK-wide after successful trials.
Midwives will pass them on in the early stages of pregnancy.
Midwives will pass them on in the early stages of pregnancy.
Action taken
Action taken
The Parent's Guide to Money (PGM) also addresses topics such as maternity leave and how to save through Child Trust Funds.
The Parent's Guide to Money (PGM) also addresses topics such as maternity leave and how to save through Child Trust Funds.
People with access to a computer can use a CD-Rom to work out a budget or see how much tax credit they might get.
People with access to a computer can use a CD-Rom to work out a budget or see how much tax credit they might get.
The information is credited with giving greater financial confidence, especially to young and less financially well-off parents-to-be FSA report
The information is credited with giving greater financial confidence, especially to young and less financially well-off parents-to-be FSA report
The pilot guide was distributed to about 1,500 prospective parents through employers, children's centres and to pregnant women directly.
The pilot guide was distributed to about 1,500 prospective parents through employers, children's centres and to pregnant women directly.
Chris Pond, from the FSA, said: "Our research suggests that a lot of people are confused and sometimes bewildered by the range of things they've got to think about.
Chris Pond, from the FSA, said: "Our research suggests that a lot of people are confused and sometimes bewildered by the range of things they've got to think about.
"Things like the Child Trust Fund and tax credits, how they deal with debts and mortgages, what they should do about going back to work and what their rights are in going back to work, as well as the costs of child care."
"Things like the Child Trust Fund and tax credits, how they deal with debts and mortgages, what they should do about going back to work and what their rights are in going back to work, as well as the costs of child care."
The FSA said nearly 70% of the mothers-to-be who had taken part in the trials reported that they went on to take some sort of action as a result.
The FSA said nearly 70% of the mothers-to-be who had taken part in the trials reported that they went on to take some sort of action as a result.
Some 89% felt they had benefited from reading the guide and had found the information useful.
Some 89% felt they had benefited from reading the guide and had found the information useful.
The most common advantages mentioned were being alerted to benefit entitlements and prompting them to think about saving and budgeting.
The most common advantages mentioned were being alerted to benefit entitlements and being prompted to think about saving and budgeting.
'Positive impact'
'Positive impact'
An FSA report on the trials said: "The PGM was well received by all and considered to be a new and helpful means of providing those about to embark on starting a family with all the important financial information they would need.
An FSA report on the trials said: "The PGM was well received by all and considered to be a new and helpful means of providing those about to embark on starting a family with all the important financial information they would need."
"Findings suggest that the PGM has a positive impact on understanding financial matters and encouraging prospective parents to take positive action to prepare themselves financially.
The pack has been welcomed by parents and parenting groups, who say it is a useful source of information.
"The information is credited with giving greater financial confidence, especially to young and less financially well-off parents-to-be, and encourages them to search for additional information."
One supporter is Andrea Gunnell, who is expecting her second child. She says she has previously turned to friends for advice.
"My contract at work is ending at the end of the month, and I wouldn't be getting maternity pay like I did the first time.
"I assumed I wouldn't be able to get anything, and it was only through a friend telling me about maternity allowance that I realised that I would actually be entitled to something."
Sally Russell from the parenting website netmums.com told BBC News 24 there were a lot of good aspects to the pack.
She said: "There are lots of things to consider which you don't think about until you've had the baby - that's what I liked about the pack - it allows you to think about the issues in advance, which is good.
"It encourages people to talk together and work things out together."
Are you a new mum? What do you think about this scheme? Send us your comments using the form below:
Are you a new mother? What do you think about this scheme? Send us your comments using the form below:
