Expecting a Baby? Here are Some Money-Saving Tips

by Jon Dulin on February 6, 2013 · 9 comments

Saving Money with BabyThe following is guest post. If you are interested in submitting a guest post, please read my guidelines.

Are you expecting a baby in 2013? If so, you might be wondering how you’re going to afford your little bundle of joy. Times are hard at the moment, but there are ways to get your finances in order and prepare for your new born.

Take Stock of Your Debt

If you slipped into the red during 2012, it’s important to take stock of your debt. This might sound like a grisly New Year task but it will help you understand your financial situation and move forward. To begin with, write down everything you owe and work out if there’s any way you can clear your outgoings before the baby arrives. Transferring outstanding balances onto a credit card with a lower interest rate could help or you might want to set up monthly payment plans.

Set Up a Savings Scheme

Before you know it, there will be another little person running around everywhere. They’ll need love, care and financial support for a number of years so it’s a good idea to set up a savings scheme. This can continue way past the birth and will provide you with a financial safety net as they grow up. If you need help and advice to get started, contact a financial advisor, speak to others on parenting forums, talk to your bank or make the most of the savings apps available.

Start Buying Things Now

Finding out you’re pregnant can be both exciting and daunting – particularly when you read the list of things your baby will need. The requirements are quite extensive, so it’s a good idea to stock up on nappies, wet wipes, soaps, creams, talcum powder and other things that will keep. Of course, you’ll probably get a wealth of goodies if you throw a baby shower, but it’s worth stocking up on the basics anyway. If your relatives want to buy something special, ask for an essential item like a high chair, car seat or pram.

Don’t Be Afraid of Second Hand Goods

When you’re expecting, it can be tempting to apply for a credit card and rack up huge bills on anything baby-related. The reality is your cherub will grow out of cute dungarees, little cardigans, miniature hats and tiny socks within a few months, so it’s not worth spending a fortune. Instead, reuse clothes your other children have worn in the past or buy items off you friends and relatives. You might even find some second hand clothes online or in charity shops that will do the job just fine. Give everything a good wash before you use it and it should keep your bouncing bundle warm and cozy.

Having a baby will certainly change a lot in your lives, but it shouldn’t leave your bank balance dry.

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{ 9 comments… read them below or add one }

Suba February 6, 2013 at 3:51 pm

We don’t have a baby yet, but as we know we want to start a family soon, I have been saving up for it in a targeted savings account for the last 1.5 yrs. My husband never took to cribs or anything confining when he was a kid, so we are not going to buy them until we know what the baby likes, but as part of finishing up our FSA, I did buy prenatal vitamins, some lactation supplies, baby thermometer etc.
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Catherine February 7, 2013 at 12:48 pm

Second hand can be just as nice as new! Babies are in their clothes for 2-3 months before it no longer fits and people donate amazingly good stuff! I also buy toys etc via online classifieds…another massive money saver is BREASTFEED! I know it’s harder to accomplish in the states since your maternity leaves are laughable but not impossible.
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Brick By Brick Investing | Marvin February 7, 2013 at 11:06 pm

When my wife and I found out we were having our daughter we literally started buying a little bit of everything right away. We would make methodical purchases of diapers and anything else we found a coupon for or on sale. I recommend doing this if not from a preparedness standpoint definitely from an economical standpoint. Nothing ever drops in price it only goes up. Throughout our daughter’s first year I literally saw the price of formula jump 10%


Sarah Park February 9, 2013 at 2:25 am

Thanks for these very useful tips. I am indeed expecting a baby in less than 7 months and as early as now, I am starting to slowly buy things and settle any debts left. I want to be prepared before the baby comes out.
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moneysma February 9, 2013 at 8:58 pm

Congrats!! Have you come up with ideas for names?


Alexa February 10, 2013 at 7:19 pm

It’s so smart to start buying diapers and such when you are pregnant. Diapers, wipes, and formula costs add up quickly so it is best to start stocking up before the baby is born.
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Kevin @ Credit Bureau Insider February 11, 2013 at 9:00 am

With all the extra spending that is needed mom’s income is sometimes the deal breaker. In the U.S. most women take an unpaid maternity leave, and many lose their jobs.

New parents need to budget for the possibility of lost income, and learn about the federal and state family leave laws.
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Glen @ Monster Piggy Bank February 12, 2013 at 7:14 am

Great tips!

I couldn’t believe how much money we spent on our new bub both before and after he arrived.
It don’t think people actually realize how expensive it can be until they have done it for themselves.
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Mary Rhodes February 14, 2013 at 8:38 am

My tip is not everything needs to be new!!
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