Having children is expensive and will involve a drop in income, either through paying for childcare or through reducing hours at work.
The other major lifestyle change which is similar is retirement- stop work therefore no income.
There is a consensus that individuals should save for their retirement and the more they can save the better their retirement lifestyle.
In order to save for retirement there has to be a significant drop in disposable income in the present day.
However, although lots of people do save up to have children; many, many people find the adjustment to income difficult to handle.
Perhaps there should be a simple, well advertised bond or savings vehicle which individuals could start paying into well before they have children.
This would have the advantage of savings to allow individuals to cover additional costs and help them adjust to the lower disposable income in the preceding years.
I know that there are products available but they are not mainstream.
I am talking about this becoming the norm. Eg If a couple is talking about having children in the future then the general expectation is that they will have set up the account.
So aibu to think that this is a good idea