Five financial tips for parents this Mother's Day

Having a baby is a pivotal time in anyone's life and the process of starting a family can change everything in an instant - not least a mother's finances. A detailed financial plan is an important tool for any mother - not only to plan for their child's financial future but also to mitigate any negative financial impacts that having a child can have on their personal finances. Rightly or wrongly, social norms continue to dictate that women often become the primary care giver when a couple has children. One of the ramifications of this is that women can suffer a ‘motherhood penalty', whic...