When a child is born, young parents can face staggering expenses. Is this (soon) your case? To avoid going broke when your baby arrives, don’t hesitate to ask for this financial assistance. We tell you everything.
In a couple, the birth of a baby (especially the first) is a real upheaval. Your daily life, your priorities, your activities and even your nights… In short, your whole life changes radically. Your expenses, also, are no longer the same. Goodbye restaurants every weekend, romantic vacations on the other side of the world and shopping galore. Hello bottles, diapers, strollers, potty chairs, cots, clothes and car seats (which are, let’s be honest, often very expensive).
A happy event, certainly, but also a good way to find yourself… completely ruined. Fortunately, it is possible to request certain financial help. To help you best prepare to manage your money before the birth of your child, we list the main aid you are eligible for.
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1) The birth bonus
At each birth, households with modest incomes may be entitled to the birth bonus as part of the Paje (young child care benefit). It is paid by CAF, and its amount varies depending on resources and the number of dependent children. If your income entitles you to it, an amount of €1019.40 will be paid to you during the 7th month of pregnancy. It is paid only once during the 7th month of pregnancy.
2) The basic allowance
Also awarded by CAF, basic allowance Paje is paid from the month following the birth or arrival of the child in the home until the month preceding his or her 3rd birthday. In the event of adoption, it is paid for a minimum of 12 months up to the child’s 20th birthday. She too is subject to income conditions and the number of dependent children. Its amount is €184.81 or €92.40 per month depending on your resources.
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3) The adoption bonus
There adoption bonus concerns, as its communication indicates, parents who adopt or welcome with a view to adoption, a child under 20 years old. It is paid by the CAF only once for each adopted child upon arrival in the home. The couple’s resources must not exceed the ceilings in force. Its amount is €2038.81.
4) The shared child education benefit (PreParE)
For parents wishing to reduce or completely cease their professional activity to care for their child (born or adopted), there is specific assistance from the CAF: shared child education benefit (Prepared). To qualify, the child must be under 3 years old (or 20 years old in the case of adoption) and the parent must be able to provide proof of at least 8 quarters of retirement contributions during the last 2 years for the 1st child, the 4 last years for the 2nd child and the last 5 years from the 3rd child. The amount depends on the degree of reduction of your professional activity and can go up to €428.71 per month in the event of total shutdown. The duration of the payment, for its part, depends on the number of children and the family situation (couple or single).
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5) The free choice of childcare supplement (Cmg)
Awarded by CAF, the free choice of childcare supplement (Cmg) allows you to finance part of the expenses related to the care of your child under 6 years old (an approved childminder, home care, an association or an authorized company, a micro-crèche or a family crèche). Its amount varies depending on the cost of the chosen childcare method, parental income, number and age of children. For example, if the household employs a childminder to look after their child, they can receive between 95.71 euros and 506 euros per month. In all cases, a minimum of 15% of the expense will remain the responsibility of the parents.
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6) Family allowances and family supplement
From the second child onwards, couples are automatically entitled to Family allowancesthe amount of which is fixed according to their resources, the number and age of the children they have in their care. THE family supplement, for its part, is a benefit paid subject to income conditions to people with at least 3 dependent children over 3 years old. There is no action to take to obtain it. Its amount varies depending on income level.
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Rights of women and children, violence, feminism, gender, discrimination, parenthood, education, psychology, health, couple, sexuality, social networks…. Joséphine loves deciphering all the social issues that drive our world…