If you’re expecting, congratulations! This is an exciting time that comes with lots of firsts and many new experiences. Having a baby is not only exciting and rewarding, but expensive. You may be relentlessly researching cribs, strollers, and baby food to prepare for the impending date.

However, before you order thousands of dollars worth of baby goods, it’s important to think about what to expect financially when you’re expecting. Of course there are the obvious costs of food, diapers, toys, clothes, etc. However, there is a list of things that you may not have factored into your baby budget plan.  If you are looking to create a solid financial plan before your due date, look no further than this guide that will help you plan like a pro. 

Make a Proper Budget Plan

First determine your pre and post birth budget plans. Babies have a lot of needs that you will have to factor into your budget. This is an important step for parents to consider at all stages of the process. You are going to want to get really clear on how much you are going to spend during your pregnancy and the 6-12 months after.

This will help set you up so you can delete finances from your list of things to do when the baby arrives.  Here are a couple different budget plans that will help you properly plan. Things like the 50/30/20 budget will help you divvy your paycheck while the bullet journal method will help you stay organized. 

Factor in Daycare or Babysitters

If you are a working parent, make sure to figure out an arrangement for care during the day. Before the baby comes, research potentials in your area. Then get a quote so you can start planning your budget around the nanny or day-care center that you will be using. It’s always a good idea to keep someone in mind for this task. 

You can get sitter averages on sites like Sitter City and Care.com. Take a look to find out what an average price might look like in your area. 

Don’t Splurge on Clothes

Of course you think about clothes when having a baby. Most parents stock up on dozens of onesies, cute outfits, and accessories for their mini-me. However, it is important to keep in mind how fast your child will grow out of these clothes. Dropping cash on every adorable baby clothing item you see will only leave you in a place of regret when in a months time they have grown out of it.

Instead, invest in staples like cribs and strollers over luxury baby wear. This will help save you in the long run because your baby will be growing out of clothes faster than you realize. 

Have a Solid Emergency Fund

No parent wants to think about the potential emergencies that can occur after you have you baby. However, it’s likely you will have certain expenses like the common cold or other issues that could arise. You are going to want to put away at least $1,000 for your emergency fund. This will be a safety net for any unexpected expenses you may encounter. This is a smart thing to have in general, but it is especially important when you have a baby on the way.


Review Your Insurance

Next on your list should be insurance. This is going to be important to during the first years of parenting. You will want to do a deep dive into your insurance plans to make sure that it is still working for your lifestyle as you grow your family. Have a conversation with your insurance provider about the options you have and what will be best as you enter this new stage of your life.


Budgeting can be overlooked but is an important thing to take into consideration when you are expecting. Get your finances in order so that you won’t have to stress when the time comes. For tips on how to teach you kids good money habits, click here!