Sainsbury’s Bank Credit Cards recently undertook some research(1) in to the costs associated with having a baby, looking at the six months prior to having the baby, and six months after having the baby.
Parents with children under the age of five say they spent on average £2,832 in the six month lead up to having their child. The largest cost comes from purchasing or upgrading a car (£1,209) and upgrades to the home, including decorating a nursery (£463).
On average, UK parents claim to spend more in the six months after their child was born, an average of £3,982. In addition to the baby essentials (some people choose to leave buying these until after the birth) there are the added day to day costs such as feeding items and nappies to consider.
Spend (broken down by item) – six months leading up to the birth
|Other nursery furniture||£235|
|Baby toys & clothes||£265|
|Buy or upgrade car||£1,209|
|Upgrades to home (incl decorate nursery)||£463|
Spend (broken down by item) six months after the birth
|Formula milk /feeding items||£352|
|Other nursery furniture||£324|
|Baby toys & clothes||£375|
|Buy or upgrade car||£808|
|Upgrades to home (incl decorate nursery)||£405|
Simon Ranson, Head of Banking at Sainsbury’s Bank commented: “A new addition to the family is an exciting time for everyone but with so many things to prepare for there’s no doubt that costs can quickly add up. New parents can spread the cost of large costs and essential spending with the use of a 0% purchase credit card.
“Key to getting the best from a purchase credit card is to make sure you are paying enough back each month so that you’ve paid off what you’ve borrowed by the end of the 0% term.“
Sainsbury’s Bank’s Purchase Credit Card offers 0% interest on purchases for 28 months and 0% on balance transfers for 18 months(2) and has no annual fee. Customers are also awarded two Nectar points per £1 spent in Sainsbury’s and on Sainsbury’s fuel, and one point for every £5 spent elsewhere.
Notes to editors:
|Purchase rate is||With a representative||With a representative|
|18.95% p.a. variable||18.9% APR variable||£1,200|
Sainsbury’s Bank Nectar Credit Cards are available to new Sainsbury’s Bank Credit Card customers only. We treat all our customers and their applications for a Sainsbury’s Bank Nectar Credit Card on an individual basis. The interest rate and credit limit we offer are determined by the details you supply, along with an independent verification of credit and repayment history. To keep your promotional rate you must pay at least the minimum payment by the due date and stay within your credit limit. Nectar points collected using your Credit Card are in addition to the points you collect from swiping your Nectar Card or using it online during a transaction.
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Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.
Sainsbury’s Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury’s Bank plc is covered by the Financial Services Compensation Scheme (FSCS).