A mother shares that her nine-month-old baby has more savings than she does due to early financial planning and support.
Aromi Afoladi is a 30-year-old mother from Tower Hamlets, London.
She has gained attention because her nine-month-old daughter has more money saved than she does.
This surprising situation emphasized the importance of planning for a child’s future and how family support can make a big difference.
Aromi and her partner realized that raising a child can be very expensive.
According to a report from the Yorkshire Building Society, it costs about over $200K to raise a child in the UK until they turn 18.
This means parents often face financial challenges, especially with the rising cost of living.
Knowing this, Aromi decided to start saving money for her baby even before she was born.
“When I found out I was pregnant we knew babies are super expensive. We decided to put savings away,” Aromi said.
Mom reveals reason why her 9-month-old baby has more savings than she does
During her pregnancy, Aromi set aside $800 each month for baby-related expenses, such as clothing and toys.
They were fortunate to receive many gifts from family members.
This support allowed them to put the saved money into a special account for their daughter.
By the time the baby was born, they had already saved $5,340.
When their daughter was born in December 2023, the couple continued to build her savings.
They held a traditional naming ceremony, which is an important cultural event.
What is the ISA that Aromi opened for her baby?
During this ceremony, they received $2,670 in cash and gift cards. Aromi used this money to open a junior ISA for her daughter.
This type of account allows the money to grow until the child turns 18, making it a smart choice for long-term savings.
Thanks to interest, the amount in the junior ISA has grown to around $4,005.
Now, Aromi’s daughter has a total of $9,346 saved up, which is quite impressive for a baby.
Aromi mentioned that she and her partner currently have no savings because they are using their money to pay for their home.
Aromi is also on maternity leave, which limits their income.
She explained, “She has more money than me because our money is going into the house.”
“She has more money than me because our money is going into the house and I’m on maternity. We’re very fortunate.
She has $9,346 and she’s nearly 10 months old,” the project manager continued.
The money saved during Aromi’s pregnancy is kept in her partner’s ISA account.
They occasionally use this money for expenses related to their daughter.
Aromi feels grateful for their situation and emphasizes that they are very fortunate to have family members who support them.
She encourages other parents to consider similar financial strategies for their children.
Instead of buying toys, she suggests that family and friends contribute to the child’s savings account.
“We acknowledge we’re extremely fortunate to have all the family gift us stuff to put her in this position,” she said.
“We encourage family instead of buying her toys if you feel inclined to gift her something to get her money for her junior ISA.