You’re expecting a baby- congratulations!!!
Having a baby can be expensive.
They need a lot of new things, and there can be a lot of unexpected expenses.
But don’t feel overwhelmed!
I have a few great ideas of ways to save money when you’re having a baby so that you can be fully prepared for those baby costs when the time comes.
Note: I’ve also created a free money saving BINGO card- you can grab that resource here!
1. Create a baby registry
Guess what? Your friends and family members want to buy you and your new baby gifts!
Create a baby registry to help them out, and to let them know which items are the most essential and would be most appreciated.
If you’re not sure where to start, I created a free 10-page guide with tons of great tips and tricks for creating an amazing baby registry. You can grab yours here:
Free baby registry planning kit
Everything you need to plan the perfect baby registry!
- Handy printable checklist
- 4 sample registries on Amazon
- 5 genius baby products I wish I had for my first baby
- 6 brilliant ways to make your registry awesome
- Handy links for starting a registry
- And more!
2. Remember that you don’t need all the things.
It’s easy to start thinking that you need to buy all the tiny baby things for your new little one.
But I have a little secret for you: You don’t!
If you don’t want to spend money on a wipe warmer or a bathtub kneeler- don’t! There are an awful lot of baby things available out there that you do not actually need.
Talk to your friends about what baby items you’ll really need, and which ones can you do without.
And if you’re not sure… ask to borrow an item from a friend before you buy it yourself. No sense in spending a fortune on a baby swing if your baby is going to scream every time you put him in there.
(If you want to see some sample baby registries, you can check out the ones that I’ve created by clicking here. I added notes for each item about how essential I consider each one, so you’ll know which ones you can safely skip out on if you want.)
3. Buy used.
If you’re comfortable buying used items, you can save a ton of money that way.
It’s a great option because a lot of people go out and buy brand new baby items, then find that their baby doesn’t like them, or that their baby grew out of them really quickly.
The result? A lot of really great, quality baby items, barely used, at really affordable prices.
My two favorite places to find used baby items are the Facebook marketplace and consignment sales.
4. Take the time to do the paperwork
Take the time to understand the processes and paperwork involved in maternity and paternity leave, your healthcare and insurance options, and your medical bills.
I know it might seem boring, but I have personally lost money over incorrectly filed maternity leave paperwork. I have friends who lost money over a missed deadline to enroll their new baby in healthcare.
Don’t be like us! Take the time to double and triple check those important papers and deadlines. Make phone calls. Ask questions. And make sure you’re not leaving any money on the table.
You can find out more about how to keep your paperwork organized, as well as a checklist of all of the forms and papers you’ll need to complete in my ebook: The Ultimate Pregnancy Planner and To-Do Guide. Come check it out here!
The ultimate pregnancy to-do list, all in one place.
Pregnancy planner & to-do guide
Pregnancy doesn’t have to be complicated. Stay organized and tackle your to-do list one easy step at a time. Click the link below to see what you’ll get with this instant download!
5. Use a budget
If you don’t have a budget yet, now is a great time to start. Babies can be expensive, but if you start to plan now, you can figure out what those expenses will be ahead of time, and begin to prepare for them.
Here are a few expenses to anticipate when budgeting for a baby:
Change in income. Are you planning to switch from two incomes to one after your baby arrives? Will you take an extended leave that will result in a loss of income?
Childcare. If you are planning to return to work, how much will you need to budget for childcare costs?
Medical bills. Find out as soon as possible how much money you can expect to spend out of pocket for prenatal appointments, delivery, and follow-up care. Also, consider the cost of adding a child to your health care plan.
Purchases for the baby. You may need to set aside some money to buy items for your baby, such as clothes, nursery furniture, diapers, wipes, and formula. Some of these expenses will come before the baby is born, but many of them will continue to add up afterwards.
College fund. You may want to consider setting up a college fund for your baby. I know it sounds like an eternity away, but hear me out: Let’s say you have a lot of family and friends who have given you monetary gifts for your baby.
If your baby doesn’t really need any more new clothes, why not put those gifts away towards his or her future? As a bonus, when your great aunt (or whoever else!) asks what to get your baby for her first birthday, you can always say, “We would really appreciate a contribution to her college fund!”
An emergency fund. It’s always important to have an emergency fund set up- just in case. Now it’s more important than ever, since a tiny human is depending on you to take care of them.
Take a look at what you spend in about 3 months- what you would need in order to get by. Do you have at least that amount set aside in savings? If not, try to adjust your budget in order to save that up.
How to use the Monthly Budget Overview
There are a lot of great online budgeting tools available. (I’ve heard really good things about the EveryDollar app.)
If you’re more of a paper person, you can download and use my Monthly Budget Overview below.
Tips for using the monthly budget overview:
Income. Start by filling in the expected column for each of your income streams. At the end of the month, you can go back and fill in the actual column. Add up your total monthly income.
Giving and Spending. Next, set goals for giving and spending this month. This includes all the money that will leave your bank accounts- whether it is given away, deducted automatically, or spent at the store.
At the end of the month, figure out your actual giving/spending (this can be an estimate based on something as simple as your credit card or bank statement) and total up your monthly giving/spending.
Saving. Now take your income and subtract the amount you gave or spent. That number is the amount you saved this month.
This amount of money can either be used to increase the amount in your savings, or used to pay off debt.
Savings and Debts. Use these sections to keep track of savings accounts and debts that you are paying off. Savings accounts might include a retirement fund, a college fund for your baby, or an emergency fund.
How to use the Monthly Spending Worksheet
Next, you can download my 2 Monthly Spending worksheets. The first one is filled out for you, and the second one is blank in case you want to personalize it for your own needs.
These pages are a helpful tool if you are trying to cut back on certain areas of spending.
Tips for using the monthly spending worksheets:
The basic categories. I broke down spending into four basic categories:
- Money that is given away through financial donations.
- Payments that you make on loans, such as your mortgage, your car, or a student loan.
- Bills and subscriptions
- Spending- basically everything else that you spend money on during the month.
Edit your subcategories. I added some basic subcategories to the filled-in version of the Monthly Spending Worksheet. You can add additional subcategories as needed.
If you have no idea where your money is going, I recommend starting out with very specific categories. Look up exactly how much you pay for your phone or electricity each month.
For spending, look through your credit card or bank statement, and try to estimate how much you are spending on gas versus groceries. (Sometimes your bank will do this for you online.)
This will allow you to isolate areas where you’re overspending, and track your goals and progress in those areas.
It should get easier as you get better. Once you have a pretty good handle on where your money is going, ease up on filling in every single category each month. You don’t have time to keep that up. Maybe you want to group all of your bills together. We like to track our spending by credit card rather than by category. (So we make a goal to spend less than $___ total on credit card #1 this month, for example.)
If you find that you’re spending more than you wanted to, you can always go back to breaking it down by category in order to figure out exactly where you overspent.
Keep in mind that your ultimate goal is to spend less and less time on your budget each month as it starts to come more naturally to you. Which is why you’re starting now, and not after your baby arrives. 😉
Those are all my tips for ways to save money when you’re having a baby! I hope that you found them helpful as you prepare for the arrival of your little one.
Congratulations, and happy planning!
-Laura
Save 5 Ways to Save Money When You’re Having a Baby to Pinterest:
More pregnancy posts from The Organized Mom Life:
Samuel’s Birth Story: A hospital induction
A little background: My other births Samuel is my 4th baby. Here’s how my other three births went: Emma: Induced at 41 weeks, born 41 weeks and 1 day Kate: Induced at 41 weeks, born 41 weeks and 1 day Andrew: Induced at 39 weeks, 6 days (I thought I was in labor, and was…
Questions to ask when looking for a daycare
Below are five steps to follow in order to choose the perfect daycare option for your child. Then you’ll find a list of questions worth considering before making your final decision. Steps to take when looking for a childcare option for your baby Step 1: Ask yourself some basic questions. When will you need childcare?…
Continue Reading Questions to ask when looking for a daycare
Pregnant with Baby #4
We’re having another baby!!! And we couldn’t be more excited about it. Here are a few more details about our exciting news: 😍 When are you due/how far along are you? I’m due in October, which puts me in the second trimester right now. (Right around 21 weeks.) Are you having a boy or a…
Baby Registry Checklist + More!
Creating a baby registry can be a little overwhelming: Where should I start? What should I include? What on earth is a micro-steam bag, and do I need one?! Creating a baby registry doesn’t have to be complicated In fact, it can be fun- You’re getting ready for a precious, new little baby, after all!…
Baby registry greeting: 3 sample welcome messages
If you are creating a baby registry on Amazon, did you know that you can create a personal greeting that will appear at the top of your registry page anytime anyone looks at it? This is a great opportunity to thank whoever is visiting your list, and to share pertinent information- like your nursery theme…
Continue Reading Baby registry greeting: 3 sample welcome messages
Sample Amazon Baby Registry
Thanks for checking out my sample Amazon baby registry! As a mom of three, I’ve spent a lot of time researching, buying, borrowing, and “testing out” baby products! And I’ve created these lists based on my top recommendations for you. 🙂 Note: As an Amazon Associate I earn from qualifying purchases. This post contains affiliate…
Leave a Reply