Top Tips For Budgeting When You’re Pregnant

A photograph of some pink folded baby clothes and booties - Top Tips For Budgeting When Pregnant - Mrs H's favourite things

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There are few things more exciting than waiting for the arrival of your new baby. Whether you’re pregnant with your very first child, your second, or even your third, there are a lot of things to think about to make sure that you’re on track both mentally, and financially.

A little bit of preparation can be all it takes to make sure that you’re not suddenly shocked by the change in your money situation when your bundle of joy arrives. After all, there’s a lot of new money going out, and sometimes less money coming in. The following tips can help to ensure that you make the most of your budgeting time when you’re pregnant.

Top Tips For Budgeting When You’re Pregnant

1. Know your Money Situation

From the very first moment that you find out you’re pregnant, it’s important to work out your budget. It’s never too early to be aware of your financial situation. The more you know about what’s going out and coming in each month, the more you’ll understand exactly what you can afford.

The good news is that there are plenty of tools online today that can help with your budgeting strategies, including apps that track your spending habits for you. Remember, when planning your money situation, make sure that you take things like benefits and maternity or paternity pay into consideration.

2. Reduce Expenses Wherever you Can

There’s a good chance that your income will change when you’re having a baby. If you or your partner stop working, then you might need to think more carefully about where you can start cutting back. A good way to start is to divide your outgoing expenses into non-essential¬†and essential items.

Once you know which essential expenses you have to pay, you can look for a way to cut down costs by shopping around for better prices. For instance, you might be able to get a better deal on your utility bills from another provider, or you could cut down on grocery costs by avoiding branded products.

On the other hand, when it comes to your non-essentials, you can think about the things you might be able to do without. While you don’t necessarily have to give up everything you enjoy, you will need to make some compromises.

3. Look for Ways to Reduce your Debts

Just because you have a new baby coming doesn’t mean that you can ignore your debts. In fact, you may even decide that you need a new personal loan to help you manage all the new expenses that are coming your way. Rather than just letting your debts pile up, consider how you can improve your financial situation by examining what you owe.

For instance, if you discover that you’re paying money back to a lot of high-interest credit card debts, you might be able to reduce your outgoing expenses by taking out a debt consolidation loan instead. Not only can this minimize the amount of interest you have to pay, but it also means that you don’t have to stress over paying multiple loans off at once. Sites like can help you find a great deal.

4. Remember Your Savings

A savings account is a crucial component of good financial health for anyone – but it can be particularly important when you’re having a new child. Building up savings can help you to cover some baby costs and see you through any periods of unexpectedly lower income.

When choosing a savings account, it’s worth looking for something that allows you to dip into the money you have when you need it, rather than selecting an ISA or something similar that would lock your money away. However, if you’re concerned that you might be tempted to use your savings, try to make it a little harder to access your cash by choosing an account without a debit card for instance.

5. Find Ways to Boost your Income

Finally, if your budget is leaving you in a state of constant worry, then it’s important to find ways that you can boost your income wherever possible. You might be entitled to things like Child Benefit and Tax credits to assist with the costs of raising a family. Speak to a group like the Citizen’s advice bureau to determine what kind of support is available.

At the same time, remember that there are plenty of ways to look into making money as a stay-at-home parent. For instance, you could sell off your unwanted possessions or work as a freelancer contributing to blogs or graphic design projects.

How did you budget when you were pregnant?





This is a collaborative post.

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