Preparing For A Baby Financially

Knowing that you’re pregnant can be one of the happiest feelings you can ever feel. Bringing a baby in this world can be exciting and overwhelming for the parents. There are just a lot of things to do, from picking a name, scheduling photo shoots for the baby, nursery color, and more. But what parents forget to think about and prepare is their finances.

For you to be fully prepared once your baby comes out is also to be financially prepared. In fact, during pregnancy, there are also a lot of expenses, including monthly check-ups, ultrasounds, and the vitamins that an expectant mother should take. From pregnancy, until your baby comes out, there will be certain expenses that you should be prepared for.

Typically, parents will have to spend $12,000 on average for the expenses of the baby during the first year. This does not include yet the cost before and right after the pregnancy itself. The cost will depend on the kind of birth that you may have and the complications that may also happen during childbirth. Hopefully, your insurance can cover everything.

So I’ve rounded up some tips on how you can become financially ready for your baby.

Updating Your Budget

The first thing that you need to do is to make sure that you update your budget. Expect that there will be big expenses, so it would be best to check your current costs, so you know which one to cut back. This will help increase the savings that you have for your baby. Typically, the best time to start budgeting is during the third term of your pregnancy. This will be a goal that’s timely and very much achievable.

It is expected that your expenses will start increasing once you get a baby, but preparing ahead of time will help you become prepared.

Know Your Baby’s Needs

The next thing that you need to do is to know the basic things that your baby needs. It can be from the nursery, home, and car, there are different things that you should be purchasing. Typically, pregnant women have baby shower parties, and their guests usually give gifts to the expectant mother.

You can get a gift registry so that your guests would know as to which things your baby needs. Some of the primary things that your baby needs after birth are the following:

Baby binkies

Baby bottles

Baby food

Baby Monitors


Car seat

Changing table



High chair

Portable crib

Rocking Chair


Do Some Research

Before doing your shopping spree, it would be best to start researching on the best brand to choose. It would also be best to compute the prices of the things that you’re eyeing. There are a lot of sites that will let you compare the costs while also checking the safety features.

It would also be helpful to purchase secondhand items. Some sites sell used baby things so you can check them out. Remember that these things will not be used long, so it would be best to purchase secondhand ones. Some sellers even offer freebies, including free clothes when you are buying a specific item in their list. You can also get some secondhand clothes from your friends or family. Doing all these will surely help you save more money for the other things that your baby needs.

Talk To Your Spouse

After doing all those, it would be best to talk to your spouse about these things. It is ideal to talk about all the responsibilities before the baby comes out. This will help both of you to plan ahead, including opening separate savings account for your baby. Remember that besides the things mentioned above, your baby may need to be in daycare. This is especially true if both of you work.

Also, it would be best to discuss whether one of you should become a stay-at-home parent. Check your family and friends who can help you with caring or babysitting when both of you are away. Lastly, don’t forget to purchase life insurance for your baby, and even for your entire family to secure your future.


These are a lot of unexpected expenses when you have a baby. It can be overwhelming, but if you prepare early, you will be able to be ready with these expenses. Cutting out some of the things that you’re used to may not be easy, but if you don’t really need it, then removing it from your list would be best. When you become a parent, there are some things that you need to give up and prioritize.

Start preparing for your baby’s arrival by talking about it with your spouse. Talk about the budget as well as your plan on whether or not to stay at home to take care of the baby.

Photo Sources: Financial Times, Verifymag, Flickr

Based on Materials from Her Money