During the 2000s, the Nordic countries have continued to invest in early childhood education and care while their parental leave systems have become more gender-equal, for instance through the enhancement of ‘daddy quotas’. When it comes to protecting families economically, on the other hand, there has been an incremental erosion of universal child allowances, although some improvements have been made in selective transfers to the most economically vulnerable families. The aim of this chapter is to discuss this trend in Nordic family policy 2000s and its outcomes on the wellbeing of families. The findings suggest a gradual shift from a ‘transfer-based’ to a ‘service-based’ family policy that accentuates labour market participation as the foremost remedy for poverty. Meanwhile, child poverty rates have climbed in conjunction with the 2008–2009 international financial crisis, most notably in single parent and immigrant households. This development warrants a discussion of the future family-friendliness of the Nordic family policy model.