Babies can reach the most wonderful moments in life. And for many, they get to the point where their personal finances aren’t the strongest.

In fact, some women who take maternity leave have no savings.

Pay cuts and spending on newborns during this period mean many mothers have to borrow money. Some even have debts.

A survey of parents by credit karma, a finance company, found that a quarter of parents take maternity leave with no savings and 26% of women are in debt during maternity leave.

According to the company, credit has increased by 60,560 since 2018, with an average borrower of more than 002,800.

Students with student loans face disastrous consequences as the interest rates on these loans remain very high unless they can be repaid during their vacation.

Credit Karma said women with interest-bearing loans earn an average of $701,770 in loan interest in just six months.

Given the ever-increasing bill from the cost of living crisis, this spells dire straits for new parents.

Akansha Nat, director of Credit Karma UK Partnership, said: “Women are often financially disadvantaged throughout their lives, and childbirth responsibilities play a significant role in this gender inequality.

“When the value of life affects the most people and every penny matters, it is more important than ever to enjoy all the support available to women.”

These debts, even if they are eventually paid off, can upset the women in their lives, affect their credit scores and, as a result, their ability to buy homes and other assets.

Credit Karma said a credit score damaged by childbirth could pay off an average of 00017,000 percent over a woman’s lifetime.

If you are suffering from maternity debt, there are resources that can help.

There is a benefit checker for changing steps and a list of grants available to expectant parents. The website also offers free money management tools designed to help people with their finances without judgment.