Name: Savings before the first child
Creator: Finder

Australian parents average over $41,000 in savings before their first child, plan accordingly.
Raising a child costs between $159,120 and $548,500 over 18 years, impacting long-term budgets.
Average annual secondary school tuition ranges from $599 (government) to $15,273 (independent) in NSW.

Couple

I'm planning a family

Becoming a parent

I've newly become a parent

Baby

I'm planning my family's financial future

I’m planning a family

Get ahead with saving, the cost of going public vs private and other important stuff. Future you will be grateful.

Did you know?

The average parent has just over $41,000 in savings before having their first child.
Australians spend an average of $726 for childbirth in the public system, compared to $2,400 with private health insurance.
Only 15% of gen Z parents opt to go through the private system.

Savings before the first child

Savings before the first child
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Savings before the first child
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Where parents gave birth

Where parents gave birth
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Where parents gave birth
Where parents gave birth	2026 %	2021 %
Private care	36%	28%
Public system	64%	69%

Out-of-pocket pregnancy costs

Out-of-pocket pregnancy costs
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Out-of-pocket pregnancy costs
Cost	% of respondents
$0	21%
$0-1,000	34%
$1,000-$5,000	33%
$5,000-$10,000	10%
More than $10,000	2%

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Cost of childbirth in Australia: Public vs private costs

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Did you know?

It costs the average family $159,120 to $548,500 over 18 years to raise a child, according to government data.
Most parents open a savings account for their child when they're just 1 years old (18%).
Parents feel more bill stress (45%) when it comes to rent and mortgage payments compared to non-parents (31%).
Families with 3 or more kids can expect to pay $124 more on average every quarter for electricity than households with no kids.

Paid Leave

Paid Leave
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Paid Leave
Duration	% of respondents
1 Month or less	58%
2-3 Months	14%
4-6 Months	13%
7-9 Months	6%
10-11 Months	1%
12 Months or More	8%

Unpaid Leave

Unpaid Leave
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Unpaid Leave
Duration	% of respondents
1 Month or less	40%
2-3 Months	24%
4-6 Months	23%
7-9 Months	5%
10-11 Months	3%
12 Months or More	6%

What parental leave cost their careers

What parental leave cost their careers
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

What parental leave cost their careers
Impact	% of respondents
Missed out on promotion	15%
Missed out on a pay rise	16%
Stalled move into management	10%
Overall financial position	30%
Long term wealth/super	22%
None of the above	49%

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Did you know?

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More than half (57%) of parents have given their children access to a savings account.
34% of parents with 3 or 4 children say they are currently extremely stressed with their current financial situation.

Financial products children hold

Financial products children hold
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Financial products children hold
Financial products	2026	2021
Savings account	65%	58%
Debit card	13%	6%
Share trading account	9%	7%
Cryptocurrency account	3%	2%

How much kids have saved

How much kids have saved
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

How much kids have saved
Amount	% of respondents
None	19.15%
Up to $1,000	39%
$1,000-5,000	26%
$5,000-10,000	10%
$10,000-$25,000	4%
$25,000 or more	1%

Who funds your child's savings?

Who funds your child's savings?
Amount Saved	Respondents
None	9.82%
Up to $1,000	14%
$1,000-5,000	14%
$5,000-10,000	17%
$10,000-$25,000	16%
$25,000 +	29%

Who funds your child's savings?
Responses	% of responses
Parents contribute	62%
Child has no savings account	20%
Child is main saver	10%
Grandparents	7%

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Written by

Gary Ross Hunter

Journalist

Add to Preferred Sources

Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise

Gary Ross has written 554 Finder guides across topics including:

Health, home, life, car, pet and travel insurance
Managing the cost of living

Family finances

Get help with family budgeting, childbirth costs and prepping your family's financial future.