How to Budget When Preparing for a Baby

We all know how expensive having a baby can be.  And you have just a few months left until your bundle of joy comes into the world.  So, the question is, are you and your wallet ready?  

Budgeting is already hard enough but add to that trying to prepare for having a baby on a budget and things get a little more complicated.

Having a baby is stressful enough without having to work out your finances. Your body is changing and your hormones are all over the place, so emotionally, mentally, and physically having a baby can be draining.  

But in order to not add more stress to what can be a stressful time, it is best to make sure you have a game plan when it comes to your finances.

Below we'll go through some of the best tips and tricks to help you prepare for your baby on a budget including how you can get some freebies.  Having a baby doesn't have to break the bank.  And we are here to tell you how.

What is the Cost of Having a Baby?

First things first.  Do you know how much it costs to have a baby in the US?  In order to adequately prepare for having a baby, you must know how much you can expect to spend.

According to Business Insider, the average cost of having a baby in the states is $10,800 dollars.  And if you factor in before and after care, that figures jumps up to about $30,000.  

An article by ValuePenguin.com states that C-sections will run you around $27,000.  And this doesn't include the after care.

Furthermore, these costs fluctuate greatly between states.  What may cost $10,000 in one state, may cost $20,000 in another.  According to the same article by Value Penguin, vaginal birth can fluctuate by $30k between states and C-sections by as much as $50k.

All in all, you should Hope for the best, prepare for the worst.  

Check the costs in your state then prepare for the worst case scenario.  Since C-section typically will cost you much more than a vaginal birth, if possible, try to save enough money so that you can cover this scenario.

How to Prepare for a Baby on a Budget

Look at Your Current Finances

Preparing for a baby on a budget, means first you are going to need to know where you stand financially.  So take a look at your current finances.  

Do you have a good sized abundance fund?  If not, then you need to put that on your priority list.  Because once the baby is here, there are bound to be a lot of unexpected costs and emergencies popping up.  You should have at least 6 months worth of expenses in your abundance fund.

Next, see where you are spending the bulk of your money.  Are you eating out one too many times a week?  Paying for a gym membership you are not even using?

Look for areas where you can reduce your spending and instead put that money towards building up your baby fund.  You'll need to be in super saving mode because you just have a few months until your baby will be here.

So, now is the time to figure out ways in which you can save more and save fast.  You may even want to open up a savings account specifically for your baby.  After all, you don't want to use this money by mistake.

Note: You always have the option to make more money instead of save more.  But that depends on your situation.  Of course, your savings would increase even more if you could both save more and make more!

To supercharge your savings see if any of these savings challenges will work for you! 

Create Your Baby Budget

Of course, with all this rearranging of your current budget, let's not forget that you will need to set up a budget specifically for your baby.  Since we do know that the average baby costs around $30k including all the pre/post natal care, that could be a great starting point for your baby budget.

If you want to get more specific and see exactly where your money is going, you may want to go through and list out everything you will need (including your doctor's visits).

Here's what you can expect to budget for when having a baby:

Already you can see just how much you are going to need to spend to make sure you are baby ready.  And this list doesn't even include things like a changing table (which, hopefully, if you use the tips given later you won't need to buy).

But, since, you are trying to have this baby on a budget, keep in mind that some things on these "Baby Must Have" lists are optional.

Save, Save, Save 

Once you are clear on your baby budget and know where you going to be getting the extra money from, it is time to get to work and save.  While this may seem like the boring part, feel free to spice it up!

You could use these baby savings trackers to make saving for your baby fun.  Use the different savings tracker sheets for different baby items.  Or share them with friends so they can help you save too!

To keep track of all of your expenses, you could use something similar to this wedding planning spreadsheet for your baby.  Just create a simple spreadsheet where you can keep track of costs and the things you've already purchased. 

Overall, this is the part where you just have to buckle down, stay focused, and do it.  A spreadsheet or a tracker, like the ones mentioned above, will help you stay focused and on track for saving the money you need for your little one.

11 Tips for Having a Baby on a Budget

Have a Baby Shower

This is, in my opinion, the BEST way to have a baby on a budget - Throw Baby Shower!  What better way to get all of those expensive diapers, car seats, cribs, etc, than to have someone else pay for it!

Decide in advance what items from your baby list that you want your guests to pay for and which items you'll take care of.  This will make your budgeting a lot easier.

Create a Registry

To help your friends and family coming to the baby shower actually get the items you want them to, you're going to need to create a registry.

Sign up to create your registry online and start adding all the cute baby gear you want.  Be sure to put some lower priced items on the list as well.  That way, even your little cousin can buy something for you.

Also, bonus point good news, just by signing up for a baby registry you may be able to get some free goods!  For instance, with the Amazon Baby Registry, you get a free welcome box valued at $35 plus you can get 10% off any items left in your registry ($15 for prime members).

Don't be afraid to shop around on different sites to see which ones have the best perks along with the baby products you want.  And actually you may want to sign up for as many registries as possible as most offer free goodies and discounts!

Top Tip:  Set your due date for your registry well before your actual due date.  That way you can get those completion discounts before you have your baby.

Sign Up to Rewards Programs for Free Stuff

There are plenty of stores trying to cater to new mommies and many offer some pretty good rewards programs.  So if you know you will be shopping there often, it would be good to sign up for their programs so you can start earning points and getting free stuff.

Some of these programs will give you early access to certain products, free shipping, special coupons and discounts, and even a present for your birthday!

Buy Used 

Whenever you can, buy used.  There are many secondhand shops and baby consignments stores popping up all over the place and probably you can find whatever you need for your baby used. 

Babies grow so fast and sometimes mommies have lots of clothes and toys that have pretty much never been used.  So you can find some steals at these secondhand places.

Be careful and be sure do your own research though as there are some things you simply can't buy used!  For instance, did you know you can't use a child car seat that has been in an accident previously? 😮

Join Buy Nothing Groups

Have you heard of Buy Nothing or Freecycle groups?  Well, these could be a gold mine for new or soon-to-be new mommies.

There are a ton of people who have loads of things that they don't want to throw away for whatever reason.  And they are more than happy to give them to someone who could put it to good use.  So join a group online and start networking to see which things you could get for free!

DIY It

Unless you have a handyman for a hubby like my sister, you might not be up for handcrafting your own bassinet.  But there are some things you can get down and dirty with.

Well, maybe not quite dirty but you get what I mean.

Do you sew, crochet, or knit?  Want to learn?  You could try your hand at making the curtains for the nursery.  Or maybe put your sewing skills to use making blankets and sheets.  What about crocheting a hat for your baby or cute little booties?

Repurpose Items in Your Home For Your Nursery

You don't want to spend tens of thousands of dollars decorating your nursery.  One, because you probably will be too tired to appreciate it and two, because your baby won't care.  So, here's where some of those things you have lying around or tucked away in the attic could come in handy.

Pull out that old rocking chair you inherited from grandma.  Move one of your dressers into the baby's room to double as your diaper changing table.  Take the curtains from your office and put it in the nursery (since, quietly, that's probably going to be your new office anyway).

Doing this, could save you from spending unnecessary cash on your nursery.  So, take some time to look around your house.  What items can you reuse in your Nursery?

Buy Cloth Diapers

Not only will buying cloth diapers save you money, it is also good for the environment!  

Everyone knows that diapers are one of the biggest expenses you'll have to pay when you have a baby.  So if you could find a way to reduce this expenses immensely, wouldn't you take it?

Well, cloth diapers may be the answer to your prayers but of course they might not be for everyone.  You may be too tired to deal with cloth diapers.  And maybe opting to do a mix of both will be the best for you.  It is up to you!

Just know that there are options out there for those of us not will to part with all the cash that disposable diapers require.

Don't Buy Too Many Clothes

Babies grow fast.  And one mistake that many new parents make is buying way too many clothes for the baby.  While it might seem like everyday will be a fashion show when your little one arrives, I assure you that that simply will not be the case.

More often than not your baby will probably just be rocking that good ol' fashioned diaper.  At least in the beginning.  And rather than putting on a 3 piece suit everyday, you probably can only be bothered to keep him or her in their nightgown.

So don't spend too much money buying cute outfits.  Because not only will you probably not use most of them, but your baby is going to grow so fast that you'll probably be giving those unused show stoppers away.

Pump and Freeze Your Milk

If you are one of the lucky mama's that are blessed with a good milk supply, you may want to consider pumping more in your free time and freezing them.

This would not only save you on time later but you may also be able to donate the extra milk to a good cause.  What's more, you may even be able to sell some on the side to make a few extra coin! 

Ask Doctor and Nurse's for Free Samples

Did you know that Doctors and nurses get formula samples and other goodies from sales people all the time?  And the good news is you can get your hands on these goodies too!

All you have to do is ask!  They may also have coupons that you could take advantage of as well!

All in All

Having a baby is a very fun and exciting time!  And although you and your lifestyle will change significantly as a result, you should enjoy this journey as much as possible.

By staying on top of your budgeting and finances from the start, you'll be able to relax and enjoy your pregnancy without all the added stress.  If you have any other tips and tricks you've heard of or used, I would love to know them!  Let me know in the comments below!

Take Care! And Good Luck Mama!